The Rise of Side Gigs for Financial Stability in Gen Z and Millennials

A cute kobold has a side gig to grow his dragon’s horde.

When I lived in Los Angeles, I’d take off every Wednesday to garden for a few private clients. I’d putter around between nurseries and job sites in my sister's Mini Cooper, which surprisingly can fit a pole saw, if you’d ever wondered. I was working at a different gardening company at the time, but found if I added in a day for private clients I could take the day at my own pace, work half the time, and make twice as much for the day. Side gigs in general are becoming much more common, and it seems like the only reason to have a hobby anymore is to monetize it.

Face Reveal 😙

I super(bloom) for you.

Some gardens were nicer than others.

A shared fear of most younger generations is financial stability. That stability does not come from being obedient to a corporation, but rather from a diversified set of income streams. Your employer may be your first income stream, but setting up a second stream now can protect you in the event of a layoff. This desire for independence and stability has caused many Gen Z and Millennial workers to pursue side gigs.

The most popular side gigs according to the recent Millenial/ Gen Z survey by Delliote are selling products online, gig work like food delivery and ride sharing, pursuing artistic ambitions, and social media influence. I find this set of jobs interesting as they are mostly indicative of us being participants in a digital marketplace. Long gone are the days of a farmer’s market stall, save your produce for Stardew Valley.

Over half of all Millenial and Gen Z live paycheck to paycheck, which is surprising for the generations with the most access to information at their fingertips. A majority of this is caused by the economic forces we’ve been hurled into, but we also have the most opportunity to learn and improve our habits to get out of this cycle. This uptick in side gigs is not always just a boost in income, but can come with some drawbacks.

It’s easy to get burnt out in today’s hustle culture. So, don’t forget to set aside a rainy day fund and keep your goals in mind. You’re trading your precious time for money, and it’s important to make sure those funds go towards the right things. I’ve got some articles that I’ll link below to help you manage the extra cash and learn to budget.