Did you know that according to a study by GoDaddy as many as one in two millennials in the U.S. have a side hustle? Could it possibly be that when they all lost hope in the American Dream that they turned to the gig economy to restore their faith in their own future? While this may be true, it’s more likely something to do with the fact that so many of the generation baby boomers like to call lazy have crippling debt.
While these figures are for the U.S., it’s becoming apparent that millennials in Europe and especially the U.K. also feel the financial pinch with higher education costs and property prices soaring through the roof. But whatever the reasons for their debt, millennials now use side hustles like odd jobs and even poker to pay the bills. And here are some of the most popular side hustles this year.
Freelancing
First up, it’s freelancing. Now, this is a general term, but it for the most part, it means any professional who offers their services on a per-project or short-term contract basis. And pretty much any qualified professional (and even a few unqualified ones) can do it. For example, a graphic designer might spend a few hours each evening working on logos for local companies while a software engineer might spend their free time writing code or even building websites.
For those who are passionate about their job, this is probably the best side hustle to have. And with sites like Fiverr and Upwork providing a platform to sell their services from, it’s quite likely that anyone with the right skills and a little dedication can make a bit of money at this side hustle. Be warned though: freelancing can be a cutthroat business with many professionals working for peanuts to get the gig.
Online Surveys
When you think side hustle, the last thing you probably think of is filling out forms on your smartphone, but that is what many millennials are up to right now. Apps like Survey Junkie or Swagbucks give users the opportunity to earn cash by answering questions, filling out forms and even watching poker promo videos or ads for coffee. It sounds super easy because it is.
The only trouble with this kind of hustle is that you get paid pennies for your time, so you need to spend quite a few hours on your phone or laptop. Like many of us, if you spend most of your time glued to your phone, the idea of spending even more time on it might be a little too much to bear. Get paid pennies and spend all your free time watching random ads and filling out forms: sounds like hell on Earth to us.
Gaming
Now, here’s one we can get behind. Everyone loves video games, and being paid to play is the stuff of dreams. But if you want to earn cash as a gamer, you’ll need to be remarkably good and spend every waking hour playing. You might even have to give up your main job, and that’s not going to happen is it?
So, millennials have turned to a game that most people know how to play anyway, and that game is poker. Yes, believe it or not, the online poker boom shows no signs of letting up, with poker platforms enjoying unprecedented success. And if someone already has an interest in the game, then there is a good chance they can make some cash.
Better yet, there are even poker tournaments online that are free to enter but still pay out real money as prizes. So, in effect, all they invest in the game is their time. However, this is no golden ticket-type side hustle. Anyone who wants to make money playing Texas Hold ‘em has to put in the hard yards. And even if success comes, it often comes in dribs and drabs. Yes, poker is a fun side hustle but not one we’d bet on for a stable second income (see what we did there).
Influencer Marketing
Everyone who is anyone in the millennial generation is active on social media, and Instagram is the current in-vogue network. Now, those with huge followings for whatever reason, have an ideal opportunity to make a little money. What they do is sell ad space on their Instagram posts but in a subtle (not-so-subtle) way. Manufacturers will reach out to these influencers and offer them either cash or free products if they promote the product on their Instagram profile. This promotion could be as blatant as telling their followers to buy it, or it could be something lower key like wearing a hat or doing an honest product review.
Influencer marketing is a serious tool in the e-commerce industry, and influencers with significant followings can command high fees for mentioning a product. The only problem is the followers must be real people, and building a following of 50,000 people is no mean feat. This one is a real slow burner, but once it gets going, the sky is the limit.
Uber
You thought we forgot about everyone’s favorite rideshare company, but we were only saving the best for last (disclaimer: this one is not the best side hustle at all!). We all know that anyone with a car can make money driving for Uber, but it’s not all “Driving Miss Daisy” or “Carpool Karaoke.” Nope, millennials driving Ubers usually do so after a full day at the office, and that’s not ideal.
Of course, Uber has brought in rules to stop drivers from overworking and getting burned out. However, they can’t do anything about the fact that their drivers spend the day at the office. There’s good money to earn, but the need for a good car and fuel and insurance costs can make it an expensive side hustle to get started.
These are only some of the things that millennials are up to right now. Other side hustles include selling junk on eBay, crafts and even odd jobs, such as mowing lawns and dog walking. So, despite what many people might think of millennials being the generation with everything handed to them on a plate, the opposite seems true. From playing online poker to working as a part-time taxi driver, it turns out that millennials are a hard-working bunch of people. Who’d have thought it?
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