It’s almost common right now to hear young adults that are part of the millennial generation to have a side hustle directly. Also, it sounds cool when you heard someone have a side hustle. There is an excellent opportunity for you to create the next incredible thing that will shake the world. Below are the reasons how side hustles are helping young adults to strive financially.
Doing a side hustle is the best way to pay off debt, which is what most people plan on doing as they are trying to finish off their debts or to have financial freedom. Recent statistics data suggests that one out of five millennials lives in poverty. It should be noted that they have been shaped by technology and have also aged as images and social media quotes that promote the hustle-grind culture from movies to famous technology superstars like Mark Zuckerberg – the bait is addictive. There is no beginning, and there is no end.
Thus, millennials think and see work culture from a different perspective than what parents told them to see. They are willing to take calculated risks of doing something and investing for a side hustle. And the fact that the numbers of millennials becoming disinterested in their work through time is increasing; there is a limit to where they can “make it.”
They are attracted to the lifelong dream of a start-up and can do what they can to become another success story, regardless of the facts or details that show that 30% of companies fail in the first two or three decades. The civilization between the millennia is and remains alive and well for a not too distant future.
Lack of Job Security
Side hustles are essential nowadays, as no one can depend on one source of income anymore. This is the sad reality for most individuals. Job security is indeed a necessary thing from the past, but that doesn’t work in today’s generation anymore.
One of the wealthiest guys once states that “do not depend on a single source of income, invest in something to create more source.” This mentality fuels the side hustlers in the house.
The simple truth about being an employee is that your salary won’t just make you millionaire rich. Although. If you’re wiser, the investment will keep you up from the poverty line and will make you more at ease knowing you do not lack financially.
The state of today’s events and the sad fact that one-third of the U.S. population lives “in poverty” is a reminder that it is a considerable risk to earn a living, and that it is becoming one of the many people living Just Over Broke.