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While many people take on side hustles to increase income, some also do it for non-financial reasons like creative expression, socializing, and flexibility in their remote jobs. However, according to a survey by Bankrate, some respondents see their side hustles as essential to maintaining their lifestyle, especially amid inflation.
With the economy's instability, people are looking for ways to diversify their income streams and ensure long-term financial stability. Millennials and Gen Z are particularly interested in having multiple sources of income, and side hustles can offer them an opportunity to do so.
Freelancing, in particular, can help individuals develop skills and pursue their passions. Additionally, side jobs like ride-hailing may offer opportunities to interact with more people, although these interactions may vary from awkward to heartwarming. Regardless of the reasons for pursuing side hustles, they have become more prevalent in today's economy.