A side hustle can help you turn around a difficult financial situation. Whether you are looking to pay off debt, improve your retirement savings, or are looking to pad your cash flow to retire early, it may be possible with a side hustle. A recent Bankrate survey found that the average side hustler brings in $8,000 per year for their efforts. How does your side hustle stack up, and what can you do to reach that $8,000 range and beyond?
How Much Do People Earn With Side Hustles?
The June 2018 Bankrate survey found that 37 percent of Americans have a side job, meaning nearly 4 in 10 Americans are side hustlers. That is a massive number of people! If that number applies to all working adults, that means there are more than 50 million people with a side hustle in the United States bringing in a total $400 million per year!While 49 percent of side hustles bring in up to $200 per month, 15 percent of side hustlers bring in more than $1,000 per month. Imagine an extra $12,000 or more per year in income. What could that do for you? Could it help you get out of debt? Perhaps it could get you on track for early retirement? Maybe you would choose to split your side hustle income into savings and an extra annual trip? There are no rules for how you use your own money as long as you follow your budget.
