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44% of Americans Report Having a Side Hustle Amid Inflation

March 28, 2023 by Bautis Financial
Dog Walking Side Hustle

If you have (or are thinking of getting) a side hustle, you're not alone. But these side hustle statistics — including the average income they generate — may surprise you.

According to a LendingClub report, 62% of all American adults were living paycheck to paycheck in February — up from 60% the month earlier. 

So, to make ends meet, more people have picked up a side hustle or alternative income source to improve their financial standing.

A report from Lending Tree found that 44% of U.S. adults report having a side hustle. By generation, 62% of Gen Zers (ages 18 to 25), 55% of millennials (ages 26 to 41) and 54% of parents with children younger than 18 have a side gig.

But, on average, Americans are only earning $473 a month, or about $5,700 a year, from their side hustle. 

43% of the Lending Tree survey respondents who had a side hustle said they need the money to pay their primary expenses or bills, with 68% saying they are not relying more on the extra income due to inflation.

The top side hustles include:

  • Making and selling items on websites like Etsy, Ebay and Poshmark.
  • Babysitting, pet sitting and care taking.
  • Delivering food or groceries with services like Instacart, DoorDash and Uber Eats.

On average, Americans spend 13 hours per week on these side hustles.

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Category: Finance News, Personal FinanceTag: Side Hustle, Side Hustles
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