Millennials, born between 1981 and 1996, have surpassed Generation Z in embracing side hustles. The H&R Block’s Outlook on American Life Report, based on tax filer data, indicates that millennials are more likely to work multiple jobs. Financial challenges, like the aftermath of the Great Recession and ongoing family care responsibilities, have pushed millennials to pursue extra income. Additionally, many millennials see side hustles not just as a means of making money, but as a way to pursue their passions, solve problems, and express creativity.
Interviews with seven millennials who have side hustles shed light on their experiences. They revealed that balancing a side hustle with a full-time job can be challenging, requiring discipline, time management, and automation. It also involves building a supportive community and considering tax implications. Transparent communication with employers about side hustles is crucial, with many millennials advocating for openness about their endeavors to avoid conflicts of interest.
The trend of millennials engaging in side hustles shows no signs of slowing down. These findings emphasize the significant role of side hustles in the lives of millennials and the various motivations behind them, extending beyond mere financial gain.