Stat: US consumers turn to side hustles for financial stability

US – The 2024 Bankrate Side Hustles survey has revealed that about one-third (36%) of US adults have taken on supplementary work – also known as a side hustle – to cover living expenses and discretionary spending. 

Consumer financial services company Bankrate commissioned YouGov to survey 2,332 US adults in June 2024, and found that more than one in three (36%) use their extra income for essential living costs such as rent and groceries, 37% use a side hustle to fund discretionary spending and 20% use it to pay off debt.  

The survey also revealed that 32% believe they will always need supplementary work to sustain their lifestyles. This trend persists despite cooling inflation, indicating continued financial struggle amid the cost of living crisis.  

Side hustles are particularly popular among young adults; almost half (48%) of Gen Z have a side hustle in the US, compared to 23% of Baby Boomers. 

In our Work States Futures macrotrend report, we tracked the natural evolution of polywork and side hustling as workers expand their horizons beyond the confines of a single job to explore other projects and professions.