Amid rising prices, many Americans say one job no longer covers basic expenses, turning side work from optional to essential. A new LendingTree report finds that 38% of consumers already have a secondary job, and 61% of those workers say they could not maintain their current standard of living without the additional income.
LendingTree noted that household finances are tight and that relying on a single paycheck makes it harder to reach goals. The study shows the most common gigs include food or grocery delivery (15%), online freelancing (15%), part-time or seasonal work (14%), cleaning services (13%), crafts or product sales (13%), and resale of used items (12%). Other examples include social media influencing, babysitting, pet care, day trading, and tutoring.
Average monthly earnings from side jobs are $1,215, with a median of $400. Reported income varies by gender: men earn about $1,580 a month, while women earn $749. Time commitments are significant as well. 45% spend at least ten hours per week on side work, 9% put in twenty hours or more, and only 19% work five hours or less.
The main reason for pursuing side income is the cost of living. 33% cite everyday expenses, 29% need help paying bills, 28% want discretionary funds, and 24% work to pay down debt. Asked about triggers, 49% pointed to the broader economy, 42% to inflation, with smaller shares naming the pandemic (21%), higher interest rates (20%), and stock market weakness (14%).
Despite the extra hours, 77% say side work has improved their quality of life. Among parents of young children, 82% agree, and nearly half of that group (47%) say they “strongly agree.” Summing up the sentiment, Instawork communications lead Kira Cavan said side gigs help people absorb higher prices for essentials and provide financial breathing room for things like a summer trip without tapping emergency savings.
BY HOONSIK WOO [woo.hoonsik@koreadaily.com]
