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Side hustle statistics

Cost of living crush pushing Australians towards side hustles

With the cost of living rising over the last year, many Australians are finding ways to earn more to keep up with expenses. Side hustles can be a useful way to earn a second income.

Finder's Consumer Sentiment Tracker shows that the 2 most popular ways Australians are earning a second income is by selling pre-owned goods and collecting recyclable cans and bottles. Almost 1 in 10 report using their homes to earn money, with 9% reporting they rent their house or a spare room and 5% renting out the garage.

Selling pre-owned goods is more popular with younger Australians with 37% of millennials and 34% of gen Z using it to make extra money compared with only 30% of baby boomers. On the other hand, collecting recyclable cans and bottles is far more popular with older generations 48% of gen X doing it as opposed to only 18% of gen Z.

The data also shows that in any given month in the first three quarters of 2023, selling pre-owned goods was the most lucrative, with Aussies making on average $897.

How many people hold a second job?

However, using the assets a person already owns is limited by the fact the person had to buy those things to begin with. A more steady form of second income is a second job. ABS data shows more Australians than ever have resorted to finding a second source of income through a second job. The proportion of employed people with a second job has risen to a record high of 6.7%.

Admin workers and those in agriculture, forestry and fishing are the most likely to have a second job, with 9.4% and 9.3% of the workforce holding 2 jobs at the same time. Workers in the arts industry are not far behind with 8.8% holding a second job.

What sorts of second jobs are people taking on?

Finder's data shows that of those engaging in job-related side hustles, most people either prefer earning money through doing things they enjoy or a job where they can be their own boss. 22% of those with a side hustle that is a job have one that involves their hobby and 27% involve making and selling things online.

16% of those with a side hustling job reported working as food delivery drivers and 15% as tutors – both jobs where people can largely determine their own hours.

Interestingly, there appears to be a gender divide to second jobs. 25% of men report getting paid to do a hobby compared to 18% of women. However, 31% of women report making and selling things online, compared to only 21% of men.

When it comes to the side hustles that pay the most, selling pre-owned goods tops the list, with Aussies making $897 per month on average. Renting out a room comes in second at $667 per month.

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