THE MILLENIAL HUSTLE CULTURE

THE MILLENIAL HUSTLE CULTURE

Millennials Walking In Groups

On weekends, Ann teaches yoga, Sam creates designs, Tom creates websites, and Jane takes care of the children.

By day I’m a teacher, and at night I’m a blogger. Millennials, who are known for multitasking, have begun taking up side jobs.

In April, Glamour magazine posed the rueful question; “You don’t freelance on the side? What sort of Millennial do you consider yourself to be?

Failing to participate in the trend might even lead one to a “Millennial identity crisis.” Let’s take a deep dive into the “side-hustle” economy.

A Freelancer

As the millennial generation enters the workforce, the words “side hustle” and “millennial” appear to go hand in hand. Even if each side hustler’s situation is different, the term “side hustling” generally refers to side jobs that are not part of one’s regular job.

Waiting tables, teaching yoga, writing a blog, walking pets, or participating in ride-sharing services are examples of side hustles for some people. Graphic design, teaching, writing, or even the practice of law are just a few examples of the many possible career paths open to individuals with specific skills. Side hustling appeals to a feeling of freedom, independence, and individuality outside of a full-time job, even if money is a primary consideration.

On the other hand, according to a CareerBuilder study conducted in September 2016, 39% of young adults (18–24) and 44% of older adults (25–34) work part-time to supplement their income. The ambitious nature of millennials is commendable, but when did the side hustle take over our largest generation?

HISTORICAL EVENTS AS A MARKER

Historically significant events and technical advancements may be used to compare generations across the board. The same is true for today’s generation, known as the millennials.

They’ve been molded historically by tragedies like September 11th. A horrible, historically important event had occurred there, and most of them knew it. Millennials were also raised in the midst of the Middle East conflict and the election of the country’s first African-American president.

Economic Recession

According to a recent piece in Quartz, the “side-hustle” is becoming more popular among millennials. Obviously, money is a role in the desire for a second job, but it’s not the only one. According to the report, a side business may provide benefits well beyond financial gain. A safeguard against the sense of being trapped, boring, or duped by life.

Suggestion: Why are Millennials so pumped about cryptocurrencies: https://awwspiremedia.medium.com/why-are-millenials-so-pumped-about-cryptocurrencies-35fb6beb7811

I believe this psychological advantage is the true reason for the Millennial craze, and it’s why you, no matter your age, should think about starting your own side business. Now, this “side-hustle” might be said to be a very old occurrence. Since the dawn of time, people have worked several occupations to supplement their income. It’s been said that since the 2008 crisis, we’ve seen a generation when one gig is just not enough for many people.

Earlier generations have also dealt with such a semi-tragic situation; it’s likely that everyone has had to play the actor-waiter role at some time in their lives. Regardless, those of us who have jobs consider ourselves fortunate. An ad-sales representative, benefits administrator, or a Facebook developer may not be the ideal career path for everyone. However, if you have a side business, you won’t feel so restricted.?It serves as a diversion from your disappointment and a link between the grit of the outside world and the passion of your inner self. Even if you don’t win the lottery, your side business may be like a lottery ticket, giving you the chance to find your dream job. But the odds are slim. The one that’s the ideal mix of monetary value and emotional value.

In this economy, hustling is required of everyone. For many Millennials, the most important hustle is the “side hustle,” which gets them love, fuels their ambitions, and pays the bills at the end of the month. To have a side hustle is to take on an additional job, pursue a hobby outside of work hours, or take on a freelance project after hours that earns you a little more money while also holding out the hope of better, more interesting employment down the road. For many people, it’s a second or even third job.

New online markets like Etsy, Depop, and Fiverr make it simpler and cheaper than ever for young digital natives to start a business and find freelance employment. Just take a look at the increase in the number of Etsy merchants that are active.

SETTING UP SHOP

During the epidemic, there was an increase in the number of new stores on Etsy.

Source: Etsy

After losing their employment or entering the realm of Covid-19, many people resorted to remote consultancy work. There were 44 percent of millennial freelancers and 36 percent of Gen Z freelancers who began their careers during the epidemic, according to an Upwork study conducted in June and July of last year. Nearly half (47%) of millennials and Gen Z workers combined have had such employment in the previous year. Additionally, freelancers were less likely to have unfavorable feelings about the current health issue.

Source: Upwork

No matter who coined the phrase, millennials are clearly dominating the side-hustle scene these days. CareerBuilder found that more than a third of people aged 25 to 34 hold a second job, with that number decreasing substantially as you grow older.

So, why are young people so eager to take up side jobs? Here are a few reasons young adults in their twenties and thirties are so fascinated by side jobs.

CREATIVE OUTLET WITH LOW RISK

Side hustles aren’t only for additional money for millennials, despite popular belief.?A little more money on top of a regular paycheck is always welcome, but many millennials say they began a side business because it gave them a creative outlet.

Regardless of whether millennials are pursuing side hustles to supplement their income or to explore their artistic interests in a low-risk environment, we applaud them for taking the plunge and experiencing what it’s like to be their own boss for the first time.

PAYING OFF DEBT

Millennials are scrambling to pay off debt in general, not just school debts. Many people have credit card debt because of the wide availability of credit cards, and they are now scrambling to get out of it.

POSSESSION OF EXTRA MONEY TO IMPROVE THEIR LIFESTYLE

Millennials may use the extra money they make to finance their social life, go out to eat more frequently, and take holidays.?It’s costly to live in today’s society.

Outdoor Trip

CONSERVING MONEY IN ORDER TO BE RETIRED

Millennials, as well as others in the gig economy, are saving for retirement with the additional money they’re earning. Extra savings required to increase retirement assets may not be possible in their current budget, so the side job enables money to go directly into retirement savings.

AND FINALLY, FLEXIBILITY

Some individuals are uninterested in the typical 9-to-5 work week. As a result, some side hustlers are turning their brief transactions into a long-term profession. Freelancers have the freedom to work on projects and tasks whenever they choose, and they may take time off between them if they so want, thanks to the freelance lifestyle.

Due to the gig economy, which allows independent professionals to build up a variety of client projects rather than working in an office, we are seeing a shift in the way we do our jobs. In the conventional employment market, companies often expect employees to work eight-hour days, five days a week, in the office. Employers in the gig economy, on the other hand, place a greater emphasis on output than on showing up at work. It doesn’t matter whether you get an idea or insight for a new approach in the middle of the night, while taking a shower, or during a yoga session. It doesn’t matter when you get it. The quality of worker outcomes is more important to employers in the gig economy than the method by which those results were produced.

As a consequence of the gig economy, conventional businesses may take away the most valuable lesson of valuing outcomes above schedule and location for all employees.

So, the side hustle gives millennials the chance to earn more out of life, whether it’s to support or supplement their present lifestyle or to guarantee a pleasant future.

SUMMARY

The term “side hustling” generally refers to side jobs that are not part of one’s regular job. Side hustling appeals to a feeling of freedom, independence, and individuality. According to a CareerBuilder study, 39% of young adults and 44% of older adults work part-time. In this economy, hustling is required of everyone. For many Millennials, the most important hustle is the “side hustle,” which gets them love, fuels their ambitions, and pays the bills.

Your side business may be like a lottery ticket, giving you the chance to find your dream job. Millennials are dominating the side-hustle scene these days. More than a third of people aged 25 to 34 hold a second job. Side hustlers are scrambling to pay off debt in general, not just school debts. They’re also saving for retirement with side money.

Freelancers have the freedom to work on projects and tasks whenever they choose. Freelancing allows independent professionals to build up a variety of client projects rather than working in an office. Employers in the gig economy place a greater emphasis on output than on showing up at work.