A significant number of Americans, approximately 37%, are now using income from side gigs to pay for their everyday expenses rather than for discretionary spending. This shift highlights the precarious financial landscape many face, making side hustles a primary income source rather than an extra revenue stream. However, this dependence on irregular income is troubling as it can lead to stress and burnout, and unless individuals diversify their skills and opportunities, they may find themselves facing financial insecurity if these side gigs disappear.
Turning to a side hustle to help pay the bills may be a growing trend, but it's not a good one.
You can't count on a steady amount coming in as you would with your regular paycheck.
Many side gigs, by nature, provide irregular or unreliable income, and often not very much of it.
Burnout or loss of the side gig income is a real threat for many who rely on it.
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