"Side hustles are a popular way to make extra cash. 51% of Americans had a side hustle in 2024. But the industry is changing. What made for a lucrative side gig a few years ago might no longer be as profitable now. Thanks to AI and recent changes to the economy, these side hustles could be on their way out."
"There's also a 25% tariff on specific goods, including automobiles and parts. The cost of vehicles is already on the rise, with the average new car going for $49,740. For side hustlers, this means more of their earnings could be going toward the very thing they need for a lucrative gig. Not only is there a monthly car payment, but there are other costs, like maintenance, repairs, insurance, gasoline and taxes."
51% of Americans had a side hustle in 2024. Economic shifts and AI are reducing profitability of traditional gigs. Rising cost of living is lowering consumer demand for rideshare and delivery services. A baseline tariff of 10% on nearly all imports and a 25% tariff on specific goods, including automobiles and parts, is raising vehicle prices; the average new car costs $49,740. Higher vehicle payments, maintenance, insurance, fuel, and taxes cut into earnings. Rideshare and delivery markets are highly saturated. DoorDash drivers earn about $17 to $24 an hour and may need extra hours. Freelance social media managers earn about $25 to $44; freelance web developers about $35 to $55.
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