More and more people are turning to side hustles as a way to supplement their income. According to our recent research, just over 20% of people currently have a side hustle, with younger generations leading the trend. The age group of 18-24 is the most active in this space, with 35% reporting they have an additional source of income beyond their main job.

This article is based on the findings of online research conducted in February 2024 on the TLF Panel. The online survey about activities that people undertake in addition to their main job to earn extra money, received 3,064 responses from UK consumers.

Why Are People Starting Side Hustles?

Financial necessity appears to be a major driving force behind the side hustle boom. Nearly half of those surveyed said they started their side hustle due to needing extra money. With the rising cost of living, many individuals are seeking new ways to make ends meet. In fact, 40% of people who have a side hustle use their additional earnings for essential expenses such as bills and necessities.

While the financial benefits of side hustles are the main reason for starting, they are also a means for people to pursue their passion. 31% of people are turning their hobbies into an income and 15% are hoping to make their side hustle a full-time career in the future.

How Much Are People Making?

On average, our research shows those with a side hustle are bringing in an extra £350 per month, but in reality the income generated from side hustles can vary massively.

The lower end of the scale (£20-£100) includes activities such as completing online surveys, selling second hand items, babysitting and dog walking.

When looking at the mid-range of income £100-£400 we start to see more creative pursuits, such as content creation, selling handmade items, art and photography. Tutoring and coaching also falls within this range.

In the higher levels of income (£400+) there is evidence of more professional roles such as freelancing, technology and IT, property and investment. We also see examples in this range of people undertaking flexible ‘2nd jobs’ within hospitality, food delivery and driving.

However lucrative, it’s clear that this additional income can make a real difference, whether it's to pay for life’s little luxuries or used to cover expenses, save for the future, or invest in new opportunities.

Types of Side Hustles

Side hustles come in many forms, catering to different skills and interests. Some of the most common responses in our research include:

• Online Work – Includes surveys, content creation, and freelancing.

• Selling Products – Involves online marketplaces, reselling, and selling handmade items.

• Service-Based Work – Covers jobs like delivery services, cleaning, pet care, and personal assistance.

• Teaching & Expertise – Includes tutoring, coaching, consulting, and performing.

• Creative Pursuits – Encompasses arts, photography, music, and writing.

• Miscellaneous – Covers property rentals, investments, and other unique income sources.

The Popularity of Side Hustles

Side hustles are no longer just a niche trend; they are becoming an increasingly common way to supplement income. As the job market evolves and living costs rise, people of all ages are looking for flexible ways to increase their earnings. What once may have been seen as a temporary solution has now become a long-term plan for many individuals.

The accessibility of technology and online platforms has contributed to this growth, making it easier than ever to start and manage a side hustle. Social media, e-commerce platforms, and gig economy apps provide numerous opportunities for people to monetize their skills and interests.

Side hustles can be more than just about financial security. Many individuals use them as a way to explore their passions, gain new skills, or transition into self-employment. With more than 20% of people engaged in side hustles, this trend is set to continue growing, shaping the future of work and personal finance.

Whether motivated by financial need or entrepreneurial ambition, side hustlers are reshaping the way people think about work and income.