Side hustles have become increasingly popular in recent years as more and more people look for ways to supplement their income and pursue their passions outside of their main job. In 2024, the side hustle trend continues to grow, with more individuals turning to various gigs and ventures to earn extra cash and achieve their goals. Here are 20 surprising side hustle statistics for 2024 that shed light on the income, gigs, and goals associated with this trend.
1. Side hustle income is on the rise, with 45% of Americans reporting that they have a side hustle that brings in an average of $1,122 per month.
2. The most popular side hustle gigs in 2024 include freelance writing, social media management, graphic design, and ride-sharing services.
3. 72% of side hustlers use their extra income to cover household expenses, while 48% use it to pay off debt and 26% use it to save for a specific goal.
4. Millennials are the most active in the side hustle economy, with 49% of individuals aged 18-34 having a side hustle.
5. The top goal for side hustlers in 2024 is to achieve financial freedom, with 60% of individuals citing this as their primary motivation.
6. 36% of side hustlers use their extra income to invest in their own business or pursue a passion project.
7. 63% of side hustlers work on their side gig for 10 hours per week or more, showing the dedication and commitment they have to their ventures.
8. The most common reason for starting a side hustle is to pursue a passion or hobby, with 42% of individuals citing this as their motivation.
9. The average side hustle income has increased by 25% since 2019, indicating that more people are finding success in their extra ventures.
10. 80% of side hustlers plan to continue their gig for the next year, showing the long-term potential and sustainability of this trend.
11. The gig economy has seen a 22% increase in the number of individuals working in it, with more people turning to flexible and on-demand work.
12. 68% of side hustlers say that their extra income has improved their overall quality of life, giving them more financial security and the ability to pursue their passions.
13. 46% of side hustlers have used their extra income to travel or take vacations, showing the freedom and flexibility that comes with having a side gig.
14. The most successful side hustlers are those who have diversified their income streams, with 61% of individuals having more than one side gig.
15. 54% of side hustlers report that their extra income has helped them to achieve a specific financial goal, such as paying off student loans or saving for a home.
16. 57% of side hustlers start their venture as a way to test out a business idea before committing to it full-time, indicating the entrepreneurial spirit behind this trend.
17. 39% of side hustlers say that their main job doesn’t provide them with enough opportunities for growth, prompting them to seek additional income and fulfillment through a side gig.
18. The top skills that side hustlers have developed through their ventures include time management, financial literacy, and marketing, making them more well-rounded and adaptable individuals.
19. 64% of side hustlers say that their main job supports or encourages their side gig, showing a growing acceptance of this trend in the workplace.
20. The side hustle trend is expected to continue growing in the coming years, with more individuals seeking out ways to earn extra income and pursue their passions outside of their main job.
Overall, these surprising side hustle statistics for 2024 highlight the increasing popularity and success of this trend, as well as the diverse motivations and goals of individuals participating in it. Whether it’s to achieve financial freedom, pursue a passion, or test out a business idea, side hustles continue to provide opportunities for personal and professional growth in today’s economy.