• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

The College Investor

Student Loans, Investing, Building Wealth

  • About
  • Podcasts
  • Research
  • Contact
  • Save For College
      • How To Start

      • How To Save For College
      • How To Pay For College
      • What Is the Average Cost of College?
      • What Is A 529 Plan and Where to Open One in Your State
      • How Much Should You Have In A 529 Plan By Age
      • How To Use A 529 Plan For Private Elementary And High School
      • What Are Qualified Expenses For A 529 Plan (And What Doesn’t Count)?
      • The Best Brokers To Open A 529 Plan
      • Tools + Accounts

      • 529 Plans: The Ultimate College Savings Plan
      • 529 Plan Contribution Limits
      • Prepaid Tuition Plans | What To Know
      • Understanding And Using 529A ABLE Accounts
      • Using A Roth IRA To Save And Pay For College
      • FAFSA Deadlines for Financial Aid
      • CollegeBacker Review
      • Upromise Review
      • UNest Review
      • Other Options

      • Student Loan And Financial Aid Programs By State
      • The Guide To Military And VA Education Benefits
      • How To Fill Out The FAFSA
      • How To Find College Scholarships
      • The Best College Scholarship Search Websites
      • How To Find Grants To Pay For College
      • Pell Grants: What They Are And How To Qualify
      • Understanding Federal Work-Study
      • How To Use A 529 Plan If Your Child Doesn’t Go To College
  • Student Loans
      • Borrowing

        • How Student Loans Work
        • How To Apply For A Student Loan
        • Best Student Loans And Rates In March 2023
        • 10 Best Private Student Loans Of March 2023
        • Best Student Loans To Pay For Graduate School
        • Best Student Loans To Pay For Medical School
        • Parent Loans To Pay For College
        • No-Cosigner Student Loan Options
        • Guide To Income Sharing Agreements (ISAs)
        • Best International Student Loans
      • Get Out Of Debt

        • Best Student Loan Refinance Companies In March 2023
        • Best Student Loan Repayment Plans
        • Best Student Loan Refinancing Bonuses And Promotional Offers Of March 2023
        • Student Loan Forgiveness Programs (The Complete List)
        • The Full List Of Student Loan Forgiveness Programs By State
        • Public Service Loan Forgiveness (PSLF)
        • Top Student Loan Scams
        • Average Student Loan Monthly Payment
        • Average Student Loan Debt By Year
      • Reviews

        • Credible Review
        • Splash Review
        • Ascent Review
        • Citizens Bank Review
        • Commonbond Review
        • Earnest Review
        • ELFI Review
        • Laurel Road Review
        • LendKey Review
        • SoFi Review
  • Investing
      • How To Start

        • How To Start Investing in High School
        • How To Start Investing In College
        • How To Start Investing In Your Twenties For 22 – 29 Year Olds
        • How To Start Investing In Your 30s For 30 – 39 Year Olds
        • How To Start Investing With $100 Or Less
        • How To Give Kids The Gift Of Stock
        • What Is Dividend Growth Investing
        • IRA Rollover Chart
      • Tools + Accounts

        • Best Online Stock Brokers
        • The Best Traditional And Roth IRA Accounts
        • The Best Robo-Advisors
        • The Best Investing Apps
        • The Best Places to Trade Options
        • The Best Places To Open A Health Savings Account
        • The Best Solo 401k Providers
        • The Best Self-Directed IRA Providers Of 2023
        • Best Cryptocurrency Exchanges
      • Reviews

        • Vanguard Review
        • Fidelity Review 2023
        • M1 Finance Review
        • TD Ameritrade Review 2023
        • Charles Schwab Review
        • Robinhood Review
        • Webull Review
        • Betterment Review 2023
        • Wealthfront Review
  • Earn More Money
      • Extra Income

        • 20 Best Side Hustles You Can Start Earning With In 2023
        • 54 Side Hustle Ideas To Make Money Fast In 2023
        • 100 Ways To Make Money In College In 2023
        • 80 Ways To Make Money From Home In 2023
        • 5 Quick Money Making Ideas (That Take Less Than 1 Hour)
        • 10 Interesting Ways You Can Make Money Driving
        • High-Paying Side Gigs That Earn $1,000 or More Per Month
        • The 10 Best Money-Making Apps
        • Paid Surveys: Earn Money For Giving Your Opinion Online
        • 10 Crazy Ways To Make $10,000 You’ve Never Heard Of
      • Build Wealth

        • 40 Best Passive Income Ideas To Build Wealth In 2023
        • 3 Ways To Make $50,000 Per Year Without Working With Passive Income
        • How To Become A Real Estate Investor With Just $500
        • 15 Best Online Business Ideas
        • Residual Income: 7 Super Smart Ways to Build It
        • The Most Common Multiple Income Streams
        • How To Become A Real Estate Mogul With Only $10,000
      • Reviews

        • Fundrise Review
        • RealtyMogul Review
        • FarmTogether Review
        • AcreTrader Review
        • Swagbucks Review
        • Survey Junkie Review
        • TopCashback Review
        • DoorDash Review
  • Personal Finance
      • Banking

        • 10 Best High Yield Savings Accounts Of March 2023
        • 10 Best Money Market Accounts Of March 2023
        • 10 Best Free Checking Accounts In March 2023
        • Best Bank CD Rates Of March 2023
        • 10 Best Business Checking Accounts In March 2023
        • Best Online Banks Of March 2023
        • Best Credit Unions Nationwide Of March 2023
        • Best College Student Checking Accounts Of March 2023
      • Insurance

        • Best Life Insurance Companies
        • Renters Insurance
        • Car Insurance
        • Pet Insurance
        • Umbrella Insurance
        • Disability Insurance
        • Tuition Insurance
        • Travel Insurance
      • Credit Tools

        • Best Budgeting Apps
        • Cash Advance Apps
        • How To Get A Free Credit Score Report
        • Best Credit Monitoring Services For 2023
        • Debt Settlement: Inside The Secret World
        • Credit Repair Explained: Should You Pay For Help?
        • Best Personal Loan Companies And Lenders
        • Online Loan Companies To Borrow From Home
      • Tax

        • Best Tax Software
        • Free Tax Software
        • IRS Tax Refund Calendar
        • Common IRS Questions and Errors
        • Federal Tax Brackets
        • Capital Gains Tax Brackets
        • 401k Contribution Limits
        • IRA Contribution Limits
        • HSA Contribution Limits
  • Awards
  • Search
Home » Research » Side-Hustles To The Rescue: Survey Shows 86% Stressed About Money & Inflation

Side-Hustles To The Rescue: Survey Shows 86% Stressed About Money & Inflation

Updated: December 1, 2022 By Claire Tak

At The College Investor, we want to help you navigate your finances. To do this, many or all of the products featured here may be from our partners. This doesn’t influence our evaluations or reviews. Our opinions are our own. Any investing information provided on this page is for educational purposes only. The College Investor does not offer investment advisor or brokerage services, nor does it recommend buying or selling particular stocks, securities, or other investments. Learn more here.Advertiser Disclosure

There are thousands of financial products and services out there, and we believe in helping you understand which is best for you, how it works, and will it actually help you achieve your financial goals. We're proud of our content and guidance, and the information we provide is objective, independent, and free.

But we do have to make money to pay our team and keep this website running! Our partners compensate us. TheCollegeInvestor.com has an advertising relationship with some or all of the offers included on this page, which may impact how, where, and in what order products and services may appear. The College Investor does not include all companies or offers available in the marketplace. And our partners can never pay us to guarantee favorable reviews (or even pay for a review of their product to begin with).

For more information and a complete list of our advertising partners, please check out our full Advertising Disclosure. TheCollegeInvestor.com strives to keep its information accurate and up to date. The information in our reviews could be different from what you find when visiting a financial institution, service provider or a specific product's website. All products and services are presented without warranty.

Inflation survey

It makes headlines daily, you see it in higher utility and grocery bills, and of course the price of gas is still sky high—we’re talking about inflation.

In a new College Investor survey, we asked if people were stressed about money because of rising inflation, and a resounding 86% said yes. 

With the holidays fast approaching, inflation, which has increased over 8% in 2022, is weighing heavily on all of our minds. 

According to the National Retail Federation, consumers plan on spending around $833 on gifts, decorations, and food. But if you’re finding it difficult to keep up with bills and everyday expenses, spending anything extra, much less $833, feels unattainable.  

Our survey asked about side hustles and what kinds of work people were doing outside of their “main’ job to help afford the rising cost of everyday expenses. What percentage of people were side hustling? How were they planning to pay for holiday gifts this year? 

The results show that while inflation is stressful, it’s also sparking the desire to pick up a side job for extra dough. Let’s explore the details from our survey. 

Table of Contents
Who’s Side Hustling?
What Kind of Side Hustles Are People Doing?
How Do People Plan on Buying Gifts This Year?
Are You Prepared For This Season? 
inflation and stress
side hustle survey stress about holiday gifts

Who’s Side Hustling?

The majority of respondents, nearly 55%, have a side hustle. This extra income can improve wiggle room for monthly expenses such as rent and utilities, which is exactly what 65% use it for.  

side hustle survey

With seventy percent of respondents being stressed for the dough to pay for presents, only twelve percent said paying for holiday gifts is their motivation for side hustling.

Other interesting findings around include:

time devoted to side hustles

What Kind of Side Hustles Are People Doing?

Extra money comes in all kinds of flavors thanks to the internet, rideshare, and delivery services. We thought it would be interesting to find out what kind of side hustles people are into, and here’s what they said:

side hustle survey types
  • Doing online surveys (i.e., Survey Junkie, Swagbucks)
  • Delivery (i.e., DoorDash, Instacart)
  • Freelance (i.e., self-employed, Upwork, Fiverr)
  • Selling stuff (i.e., eBay, Poshmark)
  • Driving for Uber/Lyft
  • In-person work at a physical store/retail
  • How Do People Plan on Buying Gifts This Year?

    Again, the majority of respondents said they were going to turn to their trusty side hustles to fund their holiday purchases. Here were the complete responses:

    • 49%: Income from side hustle
    • 21%: Credit cards
    • 13%: Buy Now, Pay Later
    • 10%: Gift cards
    • 3%: Credit card rewards
    • 2%: Personal loans

    An important factor in sustaining a side hustle is motivation. The biggest reason in having a side hustle was to be able to pay for everyday expenses. Here's what else we discovered about what people were doing with their extra money: 

    side hustle motivation

    Are You Prepared For This Season? 

    A side hustle comes in handy to cover higher everyday expenses brought on by inflation as well as pay for presents and holiday expenses. 

    If you’re ready to jump into a side hustle, we have plenty of ideas for you to get started. You can get started by filling out surveys for a little extra cash or see our articles for how to get started with DoorDash or Uber. 

    With the uncertainty around inflation, it’s a great time to pick up a side gig so you can have a little bit of cushion to get through the holidays and beyond.

     If a side gig isn’t your thing, see the best kinds of investments for inflationary periods. 

    Methodology

    The College Investor commissioned Pollfish to conduct an online survey of 1,500 Americans ages 18 and older. The survey was fielded November 8, 2022.

    Claire Tak Headshot
    Claire Tak

    Claire Tak is an editor, content strategist, and writer with a specialty and passion for personal finance and tech. Her experience in finance spans from working at San Francisco-based startups like Credit Sesame and Upstart to large institutions such as Wells Fargo. Her work has been published in FOX Business, Bloomberg, and Forbes.

    Claire believes financial stability is created through education, long-term investing, and saving. She’s fascinated by the connection between money and happiness and how human behaviors play into achieving financial success.

    Besides her enthusiasm for personal finance, she loves snowboarding and traveling. You can learn more about Claire at clairetak.com.

    Editor: Robert Farrington

    Editorial Disclaimer: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, or other advertiser and have not been reviewed, approved or otherwise endorsed by any of these entities.
    Comment Policy: We invite readers to respond with questions or comments. Comments may be held for moderation and are subject to approval. Comments are solely the opinions of their authors'. The responses in the comments below are not provided or commissioned by any advertiser. Responses have not been reviewed, approved or otherwise endorsed by any company. It is not anyone's responsibility to ensure all posts and/or questions are answered.
    Subscribe
    Connect with
    I allow to create an account
    When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
    DisagreeAgree
    Notify of

    I allow to create an account
    When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
    DisagreeAgree

    0 Comments
    Inline Feedbacks
    View all comments

    Primary Sidebar

    Robert Farrington will teach you how to get out of student loan debt and how to start investing.

    Hi! My Name is

    America's Millennial Money Expert

    Welcome to The College Investor. We're here to help you escape student loan debt so you can start investing and building wealth for the future

    Our expert guides, reviews, and more are designed to help you achieve your financial goals.

    Want to learn more? See what's in my wallet.

    As Featured In

    Social Media

    Popular Posts

    Side Hustle Ideas

    54 Side Hustle Ideas To Make Money Fast In 2023

    Best Side Hustles

    20 Best Side Hustles You Can Start Earning With In 2023

    Crazy Ways To Make $10,000

    10 Crazy Ways To Make $10,000 You’ve Never Heard Of

    Make $50,000 Per Year

    3 Ways To Make $50,000 Per Year Without Working With Passive Income

    Student Loan Scams

    Top Student Loan Scams

    Net Worth of Millennials

    Average Net Worth Of Millennials By Age

    Ways To Get Student Loan Forgiveness

    Student Loan Forgiveness Programs (The Complete List)

    529 Plan By Age

    How Much Should You Have In A 529 Plan By Age

    Passive Income Ideas

    40 Best Passive Income Ideas To Build Wealth In 2023

    Make Money From Home

    80 Ways To Make Money From Home In 2023

    Ultimate Guides

    529 Plan Guide

    529 Plans: The Ultimate Guide To College Savings Plans

    Student Loans and Financial Aid By State

    Student Loan And Financial Aid Programs By State

    Student Loan Advice

    The Definitive Guide To Student Loan Debt

    Student Loan Forgiveness By State

    The Full List Of Student Loan Forgiveness Programs By State

    newretirement

    How to Start Saving Now: The College Graduate’s Guide to Saving for Retirement

    Latest Research

    How much to file taxes

    Tax Survey: How Much People Paid To File And The No.1 Tax Software They Used

    Inflation survey

    Side-Hustles To The Rescue: Survey Shows 86% Stressed About Money & Inflation

    students choose to work survey

    75% Of Students Would Still Choose To Work Even If They Didn’t Have To

    Institutional Merit Grants

    Who Gets Institutional Merit Grants At Private Colleges?

    Resume Student Loan Payments

    Survey: Even With Higher Expenses, Most Student Loan Borrowers Are Ready To Resume Payments

    Footer

    Who We Are

    The College Investor is an independent, advertising-supported financial media publisher, focusing on news, product reviews, and comparisons.

    Connect

    • Contact Us
    • Advertise
    • Press & Media

    About

    • About
    • Our Team
    • Podcast
    • Editorial Guidelines
    • How We Make Money
    • Archives

    Social

    Copyright © 2023 · The College Investor · Privacy Policy ·Terms of Service · DO NOT Sell My Personal Information

    wpDiscuz