Are side hustles really as lucrative as they seem?

The gig economy is becoming more and more prevalent in America, especially since the pandemic.

It allows people to work when they want to work or make money on top of their current job. It provides extra income to families who need it and allows college students flexibility to work between classes.

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What is the gig economy?

The gig economy is exactly what it sounds like, an economy made up of short-term assignments instead of continuous hourly work, called gigs.

People who work inside the gig economy are called gig workers. Their main objective is to make money outside the confines of full-time employment.  They could do these gigs as side hustles or full time.

What impacts the gig economy?

Arguably the largest impact on the gig economy has been technology. Before apps like TaskRabbit, Doordash and Uber were started, people found gigs through their network.

Now, technology easily connects people who need services with gig workers who want to provide those services, and in so many different verticals as well.

Pros of the gig economy

The gig economy essentially allows people to earn money outside of a traditional employer in ways that are meaningful to them.

The gig economy is also great for people whose health prevents them from working full time. It really allows the flexibility needed to attend doctors’ appointments, rest when needed and work enough to pay your bills.

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