You are currently viewing Half of adults are looking for a side job to meet the cost of living

Half of adults are looking for a side job to meet the cost of living

Do you have a second source of income? (Picture: Getty)

A new study shows that 47% of UK adults are considering taking up a second job in addition to their current form of employment.

Nearly half are feeling the cost of living crisis so strongly that they are looking for additional sources of income, according to comparethemarket.com.

The trend is particularly strong among young adults aged 25 to 34 – more than two-thirds of them saying they are considering some form of secondary agitation.

Popular ways to earn extra money include getting paid to take online surveys, selling items on second-hand sites, or making handmade goods.

Others include cleaning services, tutoring, and hospitality work.

The prevalence of side jobs has been increasing since the pandemic due to the economic uncertainty the population has been thrown into.

More than a fifth sought to boost their income when lockdowns and restrictions were put in place – and with that, layoffs and wage freezes.

The cost of living crisis has dramatically increased this trend.

Today, nearly two-thirds of adults began looking for additional sources of income in the past year. In fact, 19% started in the last month alone.

Survey respondents who started a side job in the past six months said they did so to protect themselves financially against future bill increases and needing more money to support children.

Only 12% said they do it to turn a hobby into a source of income.

On average, individuals earn £417 per month from their secondary work and the average amount saved is £286 per month, which is up to £3,432 per year.

Overall spending is on bills, gas, food and common household items, while a quarter of people are using extra money to pay off debt.

Women are more likely than men to get a secondary job, probably because of the gender pay gap that still exists.

As the financial crisis worsens in the UK, it is predicted that more people will follow the trend and feel pressured to get a second job to make ends meet.

Do you have a story to share?

Contact us by emailing MetroLifestyleTeam@Metro.co.uk.

MORE: Five things every teen should know about money

MORE: How to save money on school uniforms – from multipacks to search deals

MORE: Is this vegan food subscription worth your time and money? I tried it for a week

Leave a Reply