Top
Image Alt

The Investing Box

  /  Editor's Pick   /  Gen Z: 77% of 18-24-year-olds took on a side hustle during the pandemic

Gen Z: 77% of 18-24-year-olds took on a side hustle during the pandemic

Happy millennial black male puts coins in piggy bank, isolated on orange background

According to research by Airtasker, 77% of 18-24-year-olds picked up a side hustle during Covid-19. But what exactly is a side hustle? And why are they now so popular? Let’s take a look. 

[top_pitch]

What is a side hustle?

Put simply, a side hustle is work you do alongside your main job or form of employment.

For example, maybe you’re a full-time secretary, but you sell arts and crafts online for extra money. Or, you’re a part-time sales assistant but you also tutor English students in your spare time. In other words, if it’s not your primary source of income but it’s making you money, then it’s a side hustle. 

Why is Gen Z looking for side hustles?

There are a few reasons. 

Firstly, according to Airtasker’s research, members of Gen Z crave job satisfaction. How can a side hustle help? Well, it lets you monetise your interests, talents and hobbies. Even if you can’t afford to pursue your side hustle full-time, you can get some much-needed job satisfaction from making money doing what you love.

What’s more, members of Gen Z are financially savvy. They’re planning for the future. In these uncertain times, having multiple income streams is a smart way to cope if there’s a financial emergency. 

Finally, side hustles can teach you new skills. For younger people, side hustles could be a stepping stone to finding a job that offers long-term satisfaction.  

What are the most popular side hustles?

You can find a side hustle in any industry, but some sectors are more popular than others. 

  • Side hustles in education, like tutoring and coaching, are among the most desirable side gigs. 
  • Other popular side jobs include working as a virtual assistant, bookkeeper or accountant. These types of jobs are also great for learning new transferable skills.  
  • For those with an artistic flair, there’s a demand for side gigs in creative industries.
  • If you love working with pets, there’s good news: dog walking and pet sitting are still popular. And, we can expect demand for dog walkers and pet sitters to grow once more people return to the office.     

What can we take from these findings? Well, it doesn’t matter where your talents lie. There’s a huge variety of side hustles out there, so you’re bound to find one to suit your skills and experience.   

[middle_pitch]

How can I find a side hustle for extra income? 

Do you want your own side hustle? Great! Here are some tips for finding a new opportunity and making some extra cash.

  • Make a note of your skills and experience, and consider which jobs match your strengths. You never know: in time, you might turn a great side hustle into a full-time job you love!
  • Choose a side job based on your passions, if possible. Juggling multiple jobs can be tiring, but you’ll stay motivated if your side gig inspires you.   
  • Go for something flexible, like a freelance opportunity. Remember, it’s a side gig. There will be weeks when your main job or other life commitments should take priority.  

Takeaway

If you’re looking to make some extra cash, then a side hustle could be the answer. To get started, reach out to family and friends, or check out online job platforms like Fiverr, Upwork and Airtasker and start marketing your services. Or, depending on the industry you’re working in, you might find an opportunity on a traditional job board instead. 

Need some cash quickly? You don’t always need a side hustle. You could try flipping items for a profit or selling used goods on apps like Vinted or Depop. 

The post Gen Z: 77% of 18-24-year-olds took on a side hustle during the pandemic appeared first on The Motley Fool UK.

Is this little-known company the next ‘Monster’ IPO?

Right now, this ‘screaming BUY’ stock is trading at a steep discount from its IPO price, but it looks like the sky is the limit in the years ahead.

Because this North American company is the clear leader in its field which is estimated to be worth US$261 BILLION by 2025.

The Motley Fool UK analyst team has just published a comprehensive report that shows you exactly why we believe it has so much upside potential.

But I warn you, you’ll need to act quickly, given how fast this ‘Monster IPO’ is already moving.

Click here to see how you can get a copy of this report for yourself today

More reading