36% of people earn additional income from a side job, often just to cover expenses

Ruth Washburn, a full-time worker, has found a unique way to channel her creativity and passion for sewing into a profitable side business called Quilts and Bears. She spends hours each week crafting memory bears, quilts, and pillows from the clothing of loved ones, providing her clients with tangible keepsakes to cherish. Washburn finds immense satisfaction in knowing that her creations offer comfort and solace beyond just a photograph.

According to a recent survey by Bankrate, Washburn is among the 36% of adults who engage in a side hustle to earn extra income. While this percentage has slightly decreased from the previous year, the number of Americans with side gigs has significantly increased compared to pre-pandemic levels. Washburn’s story reflects a growing trend of individuals seeking additional sources of income to supplement their main earnings.

Ted Rossman from Bankrate notes that many people turn to side hustles out of necessity, using the extra money to cover expenses rather than saving or paying off debt. This trend is particularly prevalent among parents of young children, with 45% of them having a side hustle. Despite the strong job market in recent years, a significant portion of side hustlers, 32%, believe that they will always need this additional income to make ends meet.

Dutch Mendenhall, author and founder of RADD companies, emphasizes the challenges faced by side hustlers in various industries, including real estate. He highlights the importance of side hustles in supplementing income and ensuring financial stability for many Americans. Despite the potential for burnout from juggling multiple responsibilities, side hustlers like Washburn continue to find fulfillment in pursuing their passion projects.

The survey by Bankrate reveals that side hustlers earn an average of $891 per month in extra income, indicating a modest increase from previous years. Rossman acknowledges the dedication and hard work of individuals who take on side gigs but also warns of the risks of burnout associated with balancing multiple commitments. He encourages people to consider using their side hustle income to pay off debt or pursue personal interests, echoing Washburn’s sentiment that the rewards of such endeavors go beyond financial gain.

In conclusion, Ruth Washburn’s story exemplifies the growing trend of side hustles among Americans seeking additional income and fulfillment. While the challenges of balancing multiple responsibilities are real, the rewards of pursuing passion projects and providing valuable services to others are equally significant. As more individuals turn to side hustles for financial stability and personal satisfaction, Washburn’s journey serves as a testament to the power of creativity, dedication, and resilience in the pursuit of entrepreneurial endeavors.