Nearly half of the nation is side hustling, survey says

Nearly half of the nation is side hustling, survey saysNearly half of the nation is side hustling, survey saysIs anybody able to concentrate on their real jobs anymore, now that everyone is side hustling? Perhaps earning some extra money on the side is a good idea in a country where a majority of people live paycheck to paycheck and 40% of Americans dont have $400 in cash in case of an emergency.According to a new survey of 2,500 people commissioned by Bankrate and carried out by YouGov, almost half the country (45%) has a side hustle whether its walking dogs, driving Ubers, or selling stuff on eBay. And nearly the same percentage (43%) in full-time jobs side hustled.Follow Ladders on FlipboardFollow Ladders magazines on Flipboard covering Happiness, Productivity, Job Satisfaction, Neuroscience, and moreOne in three said they needed that extra dough to get by.The average time spent on their side hustles weekly was about 12 hours.So how have we become a nation of hustlers?We have see n income stagnation for quite some time, says Alexandrea Ravenelle, an assistant professor at Mercy College. And even though incomes are finally back to where they were before the Great Recession, theres still a perception for a lot of people that their income is just not hitting their expenses. Even if incomes are going up, expenses seem to be going up even faster.Side jobs provide much-needed income, but they arent going to make anyone rich. Heres the breakdown in what most people make73% make $500 or less.12% make $501-1000.Only 6% make over $2,000.Why hustle?Survey respondents gave three main reasons for taking a side gig.Just over a third (34%) said they wanted disposable income. Another third (30%) needed extra cash for day-to-day living expenses. And 27% used the earnings to add to their savings.Millennials in particular side hustle because they want to save 31% of them are working extra to pad their savings, in comparison to 16% of Gen Xers and 18% of Baby Boomers. They are also the generation most likely to have a side hustle.Because Millennials experienced the Great Recession and saw their parents going through it, they probably are more aware than other generations about the importance of having a financial safety net, Ravenelle says.You might also enjoyNew neuroscience reveals 4 rituals that will make you happyStrangers know your social class in the first seven words you say, study finds10 lessons from Benjamin Franklins daily schedule that will double your productivityThe worst mistakes you can make in an interview, according to 12 CEOs10 habits of mentally strong people