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In today's world, more and more people are starting side hustles as a way to earn extra income and pursue their passions. According to recent statistics, this trend is on the rise, with an increasing number of people turning to side hustles to supplement their income. In this blog, we'll explore the reasons why people are starting side hustles and provide some relevant statistics.

To earn extra income: The most common reason people start a side hustle is to earn extra income. In fact, according to a recent survey by Bankrate, 45% of Americans who work a full-time job also have a side hustle. This additional income can be used to pay off debt, save for a major purchase, or simply improve their quality of life.

Pursuing a passion: Another reason people start a side hustle is to pursue a passion or hobby that they enjoy. In fact, according to a survey by Freshbooks, 28% of small business owners started their business as a way to pursue a passion or interest. This can lead to greater fulfillment and satisfaction in life, which is why many people choose to start a side hustle.

Job security: Some people start a side hustle as a way to have a backup plan in case they lose their job. According to a survey by CareerBuilder, 29% of workers have a side hustle as a way to have a second source of income. This can provide a sense of security and peace of mind knowing that they have another source of income in case something happens to their main job.

Flexibility: Starting a side hustle can also provide greater flexibility in terms of scheduling and work-life balance. According to a survey by Upwork, 64% of freelancers choose to work as a way to have more control over their schedule and work-life balance. This can be especially appealing for individuals with family or other personal obligations.

According to recent statistics, the trend of starting a side hustle is on the rise. In fact, a survey by Bankrate found that 45% of Americans who work a full-time job also have a side hustle. Additionally, a survey by Upwork found that 57.3 million Americans freelanced in some capacity in 2020, which is up from 53 million in 2019.

People are starting side hustles for a variety of reasons, including earning extra income, pursuing a passion, job security, and flexibility. With the rise of the gig economy and the increasing vailability of remote work opportunities, it's becoming easier than ever to start a side hustle. As these statistics show, this trend is on the rise, and it's likely that more and more people will continue to turn to side hustles as a way to improve their financial situation and pursue their dreams.