Survey Reveals 86% Burdened About Cash & Inflation

It makes headlines every day, you see it in greater utility and grocery payments, and naturally the worth of gasoline continues to be sky excessive—we’re speaking about inflation.

In a brand new Faculty Investor survey, we requested if individuals have been careworn about cash due to rising inflation, and a powerful 86% mentioned sure

With the vacations quick approaching, inflation, which has elevated over 8% in 2022, is weighing closely on all of our minds. 

In line with the Nationwide Retail Federation, customers plan on spending round $833 on presents, decorations, and meals. However in case you’re discovering it troublesome to maintain up with payments and on a regular basis bills, spending something additional, a lot much less $833, feels unattainable.  

Our survey requested about aspect hustles and what varieties of labor individuals have been doing outdoors of their “most important’ job to assist afford the rising price of on a regular basis bills. What share of individuals have been aspect hustling? How have been they planning to pay for vacation presents this 12 months? 

The outcomes present that whereas inflation is aggravating, it’s additionally sparking the need to select up a aspect job for additional dough. Let’s discover the small print from our survey. 

inflation and stress
side hustle survey stress about holiday gifts

Who’s Facet Hustling?

Nearly all of respondents, practically 55%, have a aspect hustle. This additional revenue can enhance wiggle room for month-to-month bills equivalent to hire and utilities, which is precisely what 65% use it for.  

side hustle survey

Seventy p.c plan on utilizing their aspect hustle dough to pay for presents. 

Different attention-grabbing findings round embody:

time devoted to side hustles

What Sort of Facet Hustles Are Folks Doing?

More money is available in all types of flavors due to the web, rideshare, and supply companies. We thought it could be attention-grabbing to search out out what sort of aspect hustles persons are into, and right here’s what they mentioned:

side hustle survey types
  • Doing on-line surveys (i.e., Survey Junkie, Swagbucks)
  • Supply (i.e., DoorDash, Instacart)
  • Freelance (i.e., self-employed, Upwork, Fiverr)
  • Promoting stuff (i.e., eBay, Poshmark)
  • Driving for Uber/Lyft
  • In-person work at a bodily retailer/retail
  • How Do Folks Plan on Shopping for Presents This 12 months?

    Once more, the vast majority of respondents mentioned they have been going to show to their trusty aspect hustles to fund their vacation purchases. Right here have been the entire responses:

    • 49%: Earnings from aspect hustle
    • 21%: Bank cards
    • 13%:
      Purchase Now, Pay Later
    • 10%: Present playing cards
    • 3%: Bank card rewards
    • 2%: Private loans

    An necessary consider sustaining a aspect hustle is motivation. The largest motive in having a aspect hustle was to have the ability to pay for on a regular basis bills. This is what else we found about what individuals have been doing with their more money: 

    side hustle motivation

    Are You Ready For This Season? 

    A aspect hustle turns out to be useful to cowl greater on a regular basis bills introduced on by inflation in addition to pay for presents and vacation bills. 

    In case you’re prepared to leap right into a aspect hustle, now we have loads of concepts so that you can get began. You may get began by filling out surveys for somewhat additional money or see our articles for get began with DoorDash or Uber. 

    With the uncertainty round inflation, it’s a good time to select up a aspect gig so you possibly can have somewhat little bit of cushion to get by means of the vacations and past.

     If a aspect gig isn’t your factor, see one of the best sorts of investments for inflationary durations. 

    The Faculty Investor commissioned Pollfish to conduct a web-based survey of 1,500 Individuals ages 18 and older. The survey was fielded November 8, 2022.

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