Honeygain Survey On Why Side Hustles Are Here to Stay
Honeygain always values your feedback – you might’ve noticed that in our community channels on Discord, Facebook, and Reddit, and our Trustpilot reviews. That’s why our team wanted to learn more about you and ran a survey to learn more about our users’ opinions and experiences with side hustles.
The anonymous poll lasted three months, and over 6,470 active Honeygainers answered our questions.
Not to mention the price of entertainment like streaming services, live concerts, movie tickets, and your regular shopping trips!
Since people’s salaries can’t catch up with the cost of living, many had no choice but to find new sources of income from various side hustles. Here’s what we learned from our users!
How Common Are Side Hustles?
Over 40% of Honeygainers said that they have at least one side hustle, excluding Honeygain. These people know that side hustles are a great way to make extra money and stay financially stable amidst the cost of living crisis.
If you want to start your side hustle, check out our blog to find inspiration on what to do – Honeygain has covered everything from affiliate marketing to free money-earning apps!
Why Do People Start Side Hustles?
Around 30% of Honeygainers with side hustles (excluding Honeygain) need to make extra money to live better or pay off their debt. Others said that side hustles allow them to explore their hobbies.
Some see side hustles as an option for learning and gaining new skills and knowledge.
We’re happy that Honeygainers are turning their hobbies and skills into money!
What Side Hustles Are the Most Popular?
Other answers include having an online store or business, doing gigs on platforms like Uber Eats and Fiverr, or selling products locally without an online store – the products you can sell range from hand-made jewelry to books, clothing, or cosmetics.
Will Their Side Hustle Become Full-Time Employment?
Almost half of Honeygainers with a side hustle revealed that they plan to turn it into full-time employment.
In addition, a fifth of the people said that they have considered this option but aren’t doing that right now. Only 10% of respondents admitted that turning their side hustle into a full-time job is impossible due to financial reasons.
This could mean that turning their side hustle into a full-time job may require a lot of investment upfront or that they simply don’t make enough money from the side hustle to live on it full-time.
Honeygainers, don’t give up! If you’re looking for inspiration, read our blog, where you’ll find many articles about starting low-investment side hustles.
Other Reasons for Starting Side Hustles
After the pandemic ended and many people returned to the office, they missed the flexibility and comfort of working from their cozy homes. It’s also possible that some workplaces were toxic and discouraging.
As levels of burnout rise among corporate workers, many want to break off from the 9-5 grind and start their own businesses and hustles.
Problems With Side Hustles
Nothing in life is perfect – even side hustles. Honeygain asked its users to share their problems with side hustles.
A majority said the biggest problem with having a side hustle is finding enough time to do it. And that makes sense because the average work week is more than 40 hours. When are you supposed to find time for other jobs?
The trouble of balancing side hustles is also common among students, who spend most of their time in school or university.
Honeygainers know that starting a low-maintenance side hustle is the best solution to this problem. This means you won’t have to spend much of your precious time working but will still generate income.
And lastly, the problem of finances came up. Having a side hustle requires managing and maintaining your money – taxes, profits, losses, and so much more. That’s why it’s always a good idea to look for a low-cost side hustle that won’t require investing money upfront.
Make Money Effortlessly
We’re always here to help you make some extra money! Honeygain pays you for sharing your internet. All you have to do to earn cash is download the app. After that, you can sit back and relax while the money in your pocket grows.
You can earn up to $40 a month, but if you want to make more, we invite you to participate in Honeygain’s social media contests and open your Lucky Pot in the app daily. Earn more easily!