Side gigs are major money-makers for Gen Z. The rise of side hustles is partially due to the economic insecurity of the pandemic, not to mention the fact that everyone was quarantined and often unable to do their regular work if it involved a lot of in-person contact. The need to make a living led to supplemental income from activities like data entry, translating or creating videos.
A survey from LendingTree found that more than half of Gen Zers have at least one side hustle, with inflation and post-pandemic deficits being driving factors. Being as accustomed as they are to this source of income makes them uniquely qualified to shed light on the ins and outs of side hustling.
1. The Evolution of Traditional Part-Time Work
Many of these money-making activities are just expansions of traditional part-time work. For example, teenagers often babysit for a neighbor as a way to make some cash. The difference is that now, the income is being used for bills and rent rather than extras.
Furthermore, there are now smartphone apps to easily connect with a babysitter or even a pet sitter, which opens the door to more of these opportunities. Some hustlers might schedule out several pet-sitting jobs throughout the week. Factor in other side hustles like content creation, consulting or virtual assistance, and you end up with a full workweek. As a result, many in GenZ rely heavily on supplemental sources of income.
2. They’re Lucrative
Gen Zers make, on average, upwards of $1,500 per month from side hustling. This number grows larger for those who perform numerous side hustles simultaneously. What sometimes happens is that these individuals find a surprising amount of success that continues to snowball beyond standard full-time work. For instance, one might start a podcast that became extremely popular, leading to plenty of ad revenue and sponsorships, followed by opening a merch store so listeners can further support the podcaster.
3. Ones To Avoid
Gen Zers know that these gigs aren’t all created equal. Answering surveys is a commonly advertised activity, but it ends up being very time-consuming for pocket change-level profits. Similarly, low-paying gigs are found on freelance sites, which are just deposits for penny scraps and scams. Instead, you’ll want to focus on any of the aforementioned gigs plus ones like coaching, photography, blogging, web design or walking Rover. These choices can actually bring about tangible results.
4. Quality of Life
Many Gen Zers have had such poor experiences with mainstream careers that they’ve turned to side hustles to have more control and freedom over their life — being their own boss, in a sense. The corporate world has never been perfect, but many of the younger generation aren’t willing to simply take it. They’re advocating for change and focusing more on side hustles, some of which arose during the shutdown during the pandemic.
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Source: 4 Key Things Gen Z Knows About Side Gigs That Others Could Learn From
