In the gig economy, workers often find themselves juggling multiple jobs and side hustles to make ends meet. Mika Purni, a banking intern, is one such worker who works two jobs and manages two side hustles. She constantly worries about money and feels the need to monetize everything she does. Purni lives in a two-bedroom rental with her sister and has adopted a 'scarcity mindset,' collecting clothing and food to save money. Her days are spent working as a banking intern and a retail worker, and in her free time, she delivers food or resells thrift store items online. While Purni's side hustles help her get by, they don't make her rich, and the lifestyle takes a toll on her.
The gig economy, which heavily relies on gig work, has led to a decline in Canadians' purchasing power. Workers like Purni are caught in the cycle of 'hustle culture,' where they feel the need to hustle around the clock, leaving little time for leisure. The promised flexibility of gig work often falls short, resulting in long and grueling hours. Workers also experience guilt if they're not constantly earning or being productive. The gig economy has contributed to income inequality and a decline in the quality of life for many workers.
An increasing number of younger employees have side hustles, with 53% of Gen Z, half of Millennials, and 40% of Gen X having a side hustle [6e2e93d3]. The rising costs of housing, food, and fuel, along with the threat of job loss due to artificial intelligence, are driving the growth of side businesses. Side hustles can provide financial independence and personal fulfillment. Companies should embrace flexible policies to attract and retain talent and set clear expectations for employees with side businesses. Side businesses can benefit both employees and employers by providing additional skills and income.
To address the challenges faced by gig workers, some suggest the implementation of a basic income supplement. This would alleviate the need for constant hustling and ensure that people have enough money to afford the basics. It would provide financial stability and allow workers to have more control over their time and well-being. The story of Mika Purni sheds light on the struggles faced by gig workers and calls for greater support and solutions to improve their working conditions and overall quality of life.
According to a video interview with Dose of Travel Founder Nabila Ismail, 55% of Americans want to turn their passions into profit [005627f6]. Ismail, who started as a pharmacist, turned her love for travel into a travel blog and brand. She advises people to build a portfolio of their work, take unpaid opportunities to gain experience, and establish an online presence. Ismail also emphasizes the importance of negotiating and advocating for fair compensation. She mentions that having a personal brand and showcasing previous work can strengthen negotiating power. Ismail has turned down brands in the past and recommends Cape Town, South Africa as a favorite travel destination.
In Nigeria, side hustles have become a practical necessity in the current economic reality due to the soaring inflation rate [93a65f5c]. The need for extra income has led many Nigerians to explore various side hustle ideas. Some popular side hustle ideas mentioned in the article include event planning, personal shopping, mobile car washing and detailing, setting up home networks, dropshipping, selling private label products, selling artisan products, taking online surveys, being a virtual assistant, selling at local markets and festivals, creating and selling digital products, offering online courses and coaching, and being a local handyman. These side hustles can help increase living income, save more, become financially independent, and explore potential business ideas. Starting a side hustle requires dedication, perseverance, research, and guts. It is important for individuals to carefully consider their skills, interests, and market demand when choosing a side hustle.
In addition to the side hustle ideas mentioned in Nigeria, Forbes provides a list of five high-paying side hustles that can be started within a few hours [9a432224]. These side hustles include signing up to freelance platforms like Upwork and Fiverr, starting online tutoring on platforms like Tutor.com, selling digital items on platforms like Gumroad and Etsy, becoming a delivery driver on platforms like DoorDash and Instacart, and selling print-on-demand products on platforms like Printiful and Printify. These high-paying side hustles offer individuals the opportunity to earn a significant income while leveraging their skills and interests. The article advises individuals to craft their unique brand, promote their business, and continuously update their services to stay on-trend. By exploring both low-paying and high-paying side hustle options, individuals can find the right balance between financial stability and personal fulfillment.
A new study conducted by One Poll on behalf of Herbalife found that 40% of Americans are turning to side hustles, with 48% starting a side gig solely to make ends meet [8e7e93f3]. The rising cost of living and the need for extra income are driving the side hustle boom. Side hustles also offer the opportunity to work on passion projects, provide networking opportunities, and allow for socialization. Remote work and hybrid schedules make it easier for people to start profitable side businesses. Many workers feel underpaid and turn to side hustles to keep up with expenses. Non-linear careers are becoming more common, and side gigs can help individuals add to their skill set and remain competitive in the job market. AI tools like ChatGPT and Google Gemini are being used to save time and money in side hustles. Side projects also make career changes possible without leaving a day job. They provide a way to test out new careers and build a client base. Side hustles can combat feelings of isolation and loneliness that may come with remote work. They offer opportunities for social interaction and connection. Side hustles have many benefits, including earning extra money, learning new skills, trying out new careers, and networking. The article encourages readers to consider starting a side hustle.