“…Americans look for side hustles to fight inflation”
November 8, 2022
“Do you feel like you need to take on a second job to keep up with rising prices? If so, you’re not alone. The cost of living rose 8.2% in September, while wages rose just 5.1%. And there are still jobs to be had…
Roughly one-third of Americans also reported that they have pursued some kind of side hustle. That’s according to a survey released this week by Prudential Financial, which polled more than 4,500 U.S. adults.
People’s bank balances appear to be dropping as prices rise. The personal saving rate — saving as a percentage of disposable income — fell to 3.3% in the third quarter from 3.4% in the prior quarter, the lowest since the Great Recession…
So what kind of gigs are people seriously considering and/or pursuing? Some 40% say they looking for “convenience work” such as ride-sharing and meal preparation, 28% are reselling old goods, and 22% are making their own craft goods…”
See the bold? That’s super important. Those are the people who should do well during any major recession or depression. Start a side hustle and become a producer. If the economy tanks you will be thanking me that you did.