Why Many 18- to 35-Year-Olds Are Exploring Side Hustles More Than Ever Before

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For many 18- to 35-year-olds, side hustles are an integral part of their income. According to a recent Intuit survey, almost two-thirds of people surveyed in that age group have a side hustle or are planning to start one. The survey also found that 49% of respondents were motivated primarily by the prospect of being their own boss, while 42% wanted to pursue their passions.

Here are more details on why many 18- to 35-year-olds are exploring side hustles more than ever before and some tips on how to manage a side gig.

Why Are Side Gigs Becoming More Popular?

In an interview with GOBankingRates, Kathy Kristof, the editor, founder and CEO of SideHusl.com, a website that evaluates and rates side hustle platforms, said she thinks part of the reason side hustles have become a trend among people in this age group is traditional work “failed” their parents’ generation. 

“They watched their parents get laid off and lose their ability to spend quality time with their families — and just a lot of negatives with a typical 9-to-5 job,” Kristof explained. “And so, I think it’s really inspired the urge to strike out on your own, set your own hours, set your own agenda on what you’re doing.” 

Another reason Kristof noted was the ease of being entrepreneurial these days compared with just a decade ago. “The online platforms help you market and invoice and find clients,” she said. 

Kristof explained that due to online platforms, people don’t have to begin their entrepreneurial journeys “from scratch.” They don’t have to take the steps their grandparents did when they wanted to launch businesses. 

“You now have a company that’s kind of behind you,” Kristof emphasized. “So it’s kind of the ideal in-between land from employment with somebody else and self-employment.” 

Types of Side Hustles

According to Kristof, there are three categories of side hustles. 

Some side hustles are “super entrepreneurial.” You can start these on your own. 

On the opposide end are what she called “plug-and-play” side gigs, like UberEats and DoorDash. “You just basically sign up,” Kristof said. “If you meet the requirements, you’re in, you go. But the downside is you have very little control over how much you earn and your working conditions because it’s basically all governed by the platform.” 

In the middle, she explained, there are platforms like Fiverr, Rover, Taskrabbit and Wyzant. These platforms help you “find the clients, but you stand out — and so you can decide what rate you charge,” Kristof said. 

Best Practices for Starting a Side Hustle

If you’re interested in starting a side hustle, start by thinking about your passions and skills, according to Kristof. 

“It’s one thing to be passionate about something that you really know nothing about — to be successful at a side hustle, you need to have basic skills in whatever that industry is or develop them,” she said. 

From there, she said, you can start researching online platforms. “There are some things I suppose that you’re better off doing on your own, but at least for just getting your toe in the water, it can take away a lot of the risk to join an online platform,” Kristof explained.

However, she stressed that it’s important to research online side hustle platforms. While some are great and enable people to earn good money, others, she said, are exploitative. 

“There’s nothing really quite as valuable as your time, so don’t waste it with a platform that’s going to cheat you,” Kristof said. 

How To Make Your Side Hustle Profitable 

The Intuit survey also uncovered that just 3% of respondents said they had failed in a side hustle and most respondents said they had achieved profitability within three to six months.

Kristof explained that with many of the online platforms geared toward providing side hustle opportunities, you can see profits on your first day. “The plug-and-play side hustles, there’s no issue,” she said. “With the ones that are in between that are kind of entrepreneurial — again — Taskrabbit, Rover, Fiverr, so many of them — the key is putting up a really great profile. Have a good photo. Explain what is unique about you.” 

By showcasing what makes you stand out and getting reviews as you get hired, you can increase your rates, Kristof said. 

“One of the other bits of advice that some people have told me on these platforms is, you start low and you build your rates up over time,” Kristof said. 

She used the example of dog sitting to demonstrate her point. Someone who doesn’t know you may be willing to hire you for a lower price. However, over time, as you work for them more and their trust in you builds, they might be willing to pay more. 

How To Balance a Side Hustle With a Full-Time Job

A side hustle, of course, is an additional time commitment. The Intuit survey found that 44% of respondents find time management to be a challenge. To balance a side hustle with a full-time job, Kristof advised putting it on your calendar.

“Make it part of your daily routine, kind of like going to the gym or anything that you make time for,” Kristof said. “The challenge with a side hustle is it’s extra. You’re already going to work for however many days, you already have a friend group that you want to go out with, you already have family, you have things that are in your life and regular.” 

To make money from a side hustle, Kristof said, you have to turn it into a habit.

How To Focus on Your Side Hustle Full Time

Some people end up focusing on their side hustles full time, relying on them as their primary source of income. 

“I do think what they do is sign up with these online platforms and test out the market,” Kristof said, adding that they see how much business they generate, if they’re growing their business and if they can stand out.

With time, their earnings can significantly increase. Kristof noted that most people she’s spoken to who have gone this route hit that point when they’re earning more from their side hustle than their full-time job and recognize their earnings from their side hustle could be much more if they did it full time.

But Kristof emphasized that for some people, money isn’t the be-all, end-all of their decision to focus on their side hustles full time. 

“Sometimes too, they look at it and go, you know, my income is probably never going to be quite as high, but my personal satisfaction is off the charts,” Kristof said.  

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