• 2 in 5 Brits now have at least one side hustle in 2023
• The average income earned through side hustles in the UK is £206 per week
• Three quarters of Gen Z (aged 16-23) have a side hustle, more than any other generation

PRESS RELEASE –

New research from personal finance comparison site, finder.com has revealed that more than 2 in 5 Brits (44%) now work at least one side hustle on top of their day-to-day jobs, as households across the country struggle to make ends meet amid the cost of living crisis.

A side hustle is any work that helps you earn you extra money in addition to your primary job. For example, you could sell items online, do freelance work, drive people around in your car or do other odd jobs.

The study found that on average, those working side hustles in the UK are earning around £206 per week, which would add up to more than £10,700 in additional income every year.

Despite the average earnings sitting at £206 per week, 57% of those working side hustles earn less than £100 per week. A further 35% of these individuals earn between £100 – £600 from their side hustles, and only 5% earn between £600 – £1,000 per week.

Three quarters of those aged 16-23 have at least one side hustle in 2023

When broken down by age, there is a clear correlation that shows younger generations are far more likely to have a side hustle than older generations. In fact, 76% of those in gen Z (aged 16-23) now have at least one side hustle, and are earning an average of £223 per week from their additional work.

Just behind gen Z are millennials (aged 24-42), where 62% of the age group have at least one side hustle on top of their day-to-day work. However, millennials are earning more from their extra work than those in gen Z, with average earnings of £268 per week. 42% of those in gen X (aged 43-54) also have a side hustle, earning an average of £164 per week.

Those in the baby boomer (aged 55-73) and silent generation (aged 74+) were considerably less likely to have a side hustle than their younger counterparts, with 25% and 17% respectively taking on extra work on top of their day-to -day jobs. On average, baby boomers are earning around £89 a week for their side hustles, and the silent generation are earning an average of £70 per week.

Case study: We spoke with Tracey Greyvenstein, aged 54 from Abingdon, who has taken on 3 side hustles to try and make ends meet amid the cost of living crisis.

Speaking on the impact of the cost of living crisis, Tracey remarked:

“The cost of living increases have negatively affected me financially and most price increases just cannot be justified”.

“I have not been able to pay my mortgage, and some of my bills. The increased cost in energy is crippling with my energy bill going from £80 pm to £200 pm and I do not have any heating installed on my property.”

Tracey has had to resort to working multiple jobs in order to put some money aside for the future, she explained:

“I already have 3 side hustles and am still battling to get by. I cook for the local squash club, I sell clothes on eBay and enter as many competitions, and do online surveys for money, and take part in testing and paid case studies”.

To see the research in full visit: https://www.finder.com/uk/side-hustle-statistics

Methodology:

Finder commissioned Censuswide on 24/04/2023 to carry out a nationally representative survey of adults aged 18+. A total of 2,000 people were questioned throughout Great Britain, with representative quotas for gender, age and region.