Survey Reveals 86% Harassed About Cash & Inflation

It makes headlines day by day, you see it in increased utility and grocery payments, and naturally the value of gasoline remains to be sky excessive—we’re speaking about inflation.

In a brand new Faculty Investor survey, we requested if folks have been pressured about cash due to rising inflation, and a convincing 86% stated sure

With the vacations quick approaching, inflation, which has increased over 8% in 2022, is weighing closely on all of our minds. 

In line with the Nationwide Retail Federation, shoppers plan on spending round $833 on gifts, decorations, and meals. However when you’re discovering it troublesome to maintain up with payments and on a regular basis bills, spending something further, a lot much less $833, feels unattainable.  

Our survey requested about facet hustles and what sorts of labor folks have been doing exterior of their “major’ job to assist afford the rising value of on a regular basis bills. What share of individuals have been facet hustling? How have been they planning to pay for vacation presents this 12 months? 

The outcomes present that whereas inflation is traumatic, it’s additionally sparking the will to choose up a facet job for further dough. Let’s discover the small print from our survey. 

inflation and stress
side hustle survey stress about holiday gifts

Who’s Aspect Hustling?

The vast majority of respondents, practically 55%, have a facet hustle. This further earnings can enhance wiggle room for month-to-month bills similar to hire and utilities, which is precisely what 65% use it for.  

side hustle survey

Seventy % plan on utilizing their facet hustle dough to pay for presents. 

Different fascinating findings round embody:

time devoted to side hustles

What Sort of Aspect Hustles Are Individuals Doing?

Extra cash is available in every kind of flavors because of the web, rideshare, and supply companies. We thought it might be fascinating to search out out what sort of facet hustles persons are into, and right here’s what they stated:

side hustle survey types
  • Doing on-line surveys (i.e., Survey Junkie, Swagbucks)
  • Supply (i.e., DoorDash, Instacart)
  • Freelance (i.e., self-employed, Upwork, Fiverr)
  • Promoting stuff (i.e., eBay, Poshmark)
  • Driving for Uber/Lyft
  • In-person work at a bodily retailer/retail
  • How Do Individuals Plan on Shopping for Items This 12 months?

    Once more, nearly all of respondents stated they have been going to show to their trusty facet hustles to fund their vacation purchases. Right here have been the whole responses:

    • 49%: Earnings from facet hustle
    • 21%: Bank cards
    • 13%:
      Purchase Now, Pay Later
    • 10%: Reward playing cards
    • 3%: Bank card rewards
    • 2%: Private loans

    An necessary consider sustaining a facet hustle is motivation. The largest purpose in having a facet hustle was to have the ability to pay for on a regular basis bills. This is what else we found about what folks have been doing with their extra cash: 

    side hustle motivation

    Are You Ready For This Season? 

    A facet hustle turns out to be useful to cowl increased on a regular basis bills introduced on by inflation in addition to pay for presents and vacation bills. 

    Should you’re prepared to leap right into a facet hustle, we now have loads of concepts so that you can get began. You may get began by filling out surveys for a bit further money or see our articles for get began with DoorDash or Uber. 

    With the uncertainty round inflation, it’s a good time to choose up a facet gig so you may have a bit little bit of cushion to get by way of the vacations and past.

     If a facet gig isn’t your factor, see the most effective sorts of investments for inflationary durations. 

    The Faculty Investor commissioned Pollfish to conduct a web based survey of 1,500 Individuals ages 18 and older. The survey was fielded November 8, 2022.