While the side-hustle is a popular way to make extra money, for many millennials it may be more of a necessity than a choice.
Taylor Rondestvedt, 25, said she would not have been able to afford all of her expenses without working on the weekends at a Swedish bakery in Manhattan and also teaching swimming lessons. The money from her former job as an editorial intern at a food magazine would not have covered her rent, phone bill, student loans, groceries and the occasional social event.
“I had to have at least one more job,” she said. Two meant she had more financial flexibility. After a year, she got a full-time position that paid more than her internship and was able to cut back on her side gigs.
More than half of recent graduates, those aged 24 to 28, said they are worried about having to work extra jobs and give up leisure activities to afford their student loan payments, according to a recent survey by Discover Student Loans.