More people turn to side hustles out of necessity as inflation drives prices up
A recent survey by BankRate found 41-percent of people with side hustles need the extra income to make ends meet.
BIRMINGHAM, Ala. (WBRC) – On a sunny Friday afternoon, Tabia Gaines is spending her lunch break as a vendor at the Civil Rights District Marketplace.
“I have a full-time job. I work Monday through Friday,” said Gaines.
She’s a full-time contract management specialist with her own skincare line.
“Some of my friends and family did say, ‘Uh, are you sure that’s what you want to do right now?’,” said Gaines with a smile.
She started Tabia Jenise Aesthetics last summer, in the middle of a pandemic, but with inflation at a 40-year-high, the extra income couldn’t come at a better time.
“Because of the economy, it’s kind of hard not to have another stream of income.”
She has another side hustle, too, a mobile bartending business she started in 2015. Her success managing that helped avoid typical growing pains with a new business.
In less than a year from selling her first product, Gaines will open a spa.
When asked how she manages it all, she said, “You will find time for things you’re passionate about.”
That’s Kathy Kristof’s answer, too.
“Think more like you did when you started your career search. What are the things that you’re passionate about? What do you love to do and also how much do you need to earn?”
Kristof is CEO and editor of sidehusl.com.
“We research, review and rate 450 different ways to make money,” explained Kristof.
She added, “We are catering to anybody who needs extra income.”
With inflation driving up the cost of everything, the pool of people looking for this guidance is growing. A recent survey by BankRate found 41-percent of people with side hustles need the extra income to make ends meet. That’s up 10-percent from 2019.
“You can have a thousand different profiles for why you need to be in this market, but it’s really anybody who wants to make $100, $1,000, $2,000 more per month,” explained Kristof.
Kristof’s team has reviewed sites that offer jobs for everything from dog walkers, to personal chefs, to mock jurors.
“Any professional service you can think of, whether it’s accounting, law, insurance, human resources, telemedicine, all of these things are absolutely going gangbusters right now,” she said. No matter your skill set, or time commitment, Kristoff said there is a side hustle for you.
“Forget about the [side hustles] that you know and try to explore the ones that suit you and fit your resources and your skills, find something that you find fun.”
That’s what Gaines did.
“I would say, bet on yourself. You know. who’s going to believe in you if you don’t believe in yourself? That’s my motto.”
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