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Around one third of Americans work a side job; side hustles in Colorado and nationwide becoming more popular due to rising costs

Side hustles in Colorado and nationwide becoming more popular due to rising costs
Side hustles in Colorado and nationwide becoming more popular due to rising costs 01:57

Around one third of Americans make extra money outside of their main job by working a side hustle, according to a 2024 Bankrate survey. Experts say side hustles are popular because of inflation and rising housing costs.

According to the survey, Americans make on average $891 a month working their side hustle. Some people do it to pay their bills or pay down debt, to travel, or to save a few extra dollars.

CBS Colorado spoke with a local realtor who also works for a promotional marketing company on the side. Savannah Long spends her spare time promoting brands or companies and usually gives samples of alcoholic beverages or hands out goodies.

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Savannah Long   CBS

As a realtor, she said she works at all hours of the day, but often has a flexible schedule. She added her side hustle is low commitment with only a couple of hours of work a week and is easy and allows her to go out and be social.

"It's just fun way to get out there. I love going out to eat and drink and hang out with friends, but that can get expensive. So, a good balance was to fill my social cup by going out and interacting with people, and I get to make money doing it instead of spending money doing it," said Long.

Long added real estate can take a toll with handling someone's biggest financial asset, so she enjoys her side gig too.

"I sign up for two-hour shifts here and there. It doesn't detract from my full-time career, which is important to me, to have that focus on real estate, and my clients. But if I see a little window, I'll fill that space. It's just fun and easy," said Long.

If you're interested in making extra money, choose the right side hustle for you. Consider what makes sense for your skills, your schedule and your financial goals. If you have a unique skillset, take advantage of it because it could help you earn more -- like teaching music lessons, or taking photos. Have a plan with what you're going to do with that extra money, and make sure you manage your time carefully.

"When it comes to a side hustle, I'd say, look for something that you love. I love going out to bars and restaurants and I love meeting new people. So, this was a shoo-in for me. But also, if you give it a try and it doesn't work out, move on to the next one. Don't let it dissuade you from trying something else new," said Long.

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