A 2025 survey conducted by Bankrate found that more than one in four Americans are engaging in side gigs to supplement their monthly income, reflecting a growing trend driven by rising cost-of-living pressures [1]. The survey highlights that over 25% of respondents are taking on additional work outside their primary jobs, with popular side hustles including gig economy roles such as rideshare driving and food delivery, as well as freelance opportunities like graphic design, writing, and tutoring [1].
Financial experts emphasize the importance of diversifying income streams in uncertain economic times, noting that side hustles are not only helping Americans make ends meet but also enabling them to build financial resilience [1]. According to Brian Cheung, many individuals are using extra earnings to pay down debt, save for emergencies, or invest for the future [1].
The article provides guidance on how to start a side hustle, recommending that individuals assess their skills and interests, research opportunities online, and utilize platforms that connect freelancers with clients. There are also resources and apps available to streamline the process of finding and managing side gigs [1].
Experts caution that while side hustles offer financial benefits, they can also lead to potential tax implications and risk of burnout. They advise setting clear boundaries and keeping accurate records of all income for tax purposes [1]. Financial planners suggest using side hustle income strategically, prioritizing the repayment of high-interest debt, building an emergency fund, and investing for long-term goals [1].
Overall, the market sentiment indicates that side hustles are becoming a permanent fixture in the American financial landscape, as inflation and cost-of-living pressures continue to persist [1].
CONCLUSION
The Bankrate survey underscores a significant shift in American financial behavior, with over a quarter of the population turning to side hustles for extra income. As inflation and cost-of-living pressures endure, experts expect this trend to remain a key strategy for financial resilience and long-term planning.