Before beginning work that may end up useless, a lot of people ask: Are side hustles worth it?
We actually have surveys that tell us about the average income people make.
They are made about all kinds of side hustles. Online and offline. So take the numbers with a grain of salt.
My undocumented opinion is that online side hustles bring in a lot more than what you are about to see.
But all side hustles considered, the average you can expect is around $1,000 per month. Lawn moving, dog sitting and helping kids with their homework all included.
On average, a side hustler makes $810 per month according to a Bankrate survey.
The majority (28 percent) of the questioned people made much less. Only between $1 and $50 per month. I would have loved to know how much time these people put into their side hustle.
Eight percent made more than $2,000 per month on average.
These numbers come from the Bankrate survey. Zapier also did a survey with similar results.
On average, American with side hustles made $12,689 per year, they found. That is $1,057 per month.
Nearly two in five (37 percent) make $5,000 or more per year (that is $417 per month). And nearly one in five (17 percent) makes $15,000 or more per year.
So out of 100 people, 37 make $417 per month, 17 makes $1,250 per month. We do not know how much the left-over 46 side hustlers make.
Is there an ideal age for doing side hustles?
If you do them offline, surely. It takes a lot of energy to mow lawns for two hours daily. And maybe even for online side hustles, some use age as a reason for not doing technical stuff.
According to the surveys, millennials, people aged 28 to 43, make the most. They made on average $1,022 a month.
Next up is Generation Z (12 to 27 years old) with $753 per month and Generation X (44 to 59 years) with $670 a month.
Baby boomers made the least. They came in at $646 per month and they are between 60 and 78 years old.
Depending on your age group and which age group you self-identify with, you may now have an idea about whether a side hustle is worth it.
Do consider that we are talking about all kinds of side hustles here. Not just online side hustles which can make you a lot more money if you choose right. And I cover ideas in many of my other articles.
Next up, you should consider how much time people spent on their side hustle.
And there the surveys showed that it was on average ten hours per week. That means two hours per day and weekends off.
Or, if you can only do your side hustle during the weekend, two days where you work five hours in each.
Let us crack that down to the hourly wage…
Ten hours per week for three months, that is 130 hours to make around $3,000 on average. That hourly wage is $23.08.
The average hourly wage in the US is $29.81 according to indeed. But since a side hustle per definition is something you like doing… Maybe you would prefer to make less per hour than in your day job.
Especially if you do an online side hustle, there is no dress code to follow, you do not have to go to the hairdresser as frequently, and you can cook dinner while working.
You do not need to drive anywhere if you work from home, so you save a lot of money here. And time. Lots of time.
Plus, the surveys found that side hustlers who dedicated more time to their side hustle made significantly more money.
Do you think a surgeon makes more than a cleaner?
You bet. And I would also bet that it is more pleasant to perform lifesaving surgeries than to clean toilets. But it is a fact:
When you have better skills or higher education, you make more money.
That goes for side hustles, too. Even online side hustles. The more specialized you are and the more knowledge you have, there more you can make.
Just compare two kinds of writers:
Who do you think makes the most money?
The one who writes articles for an article mill for two hours daily? Or the one who writes sales letters, high-converting emails or tweets?
You are right.
The copywriter makes a lot more. The difference is around 5 cents a word for the article writer and $1 a word for the copywriter. These numbers can vary, of course.
Does it take more time to learn how to write good copy?
Yes. You can shorten that time by taking courses. Here are two that can help you:
Grow your skills to earn more.
If you hoped to make $2,000 or more per month, working only one hour a day, things are not looking good based on these statistics.
However, if you are willing to put in more hours, maybe up to full time (even though we still call this a side hustle) and you keep learning and improving your skills, you can change those numbers significantly.
Do the numbers say anything clearly?
Not as a general. Because it is up to you to decide what you find “worth it.” Is an average of $1,000 a month worth it?
If it is not worth it to you, you have three options:
It is all up to you, but now you have numbers to support your decision.