A Quarter of Brits Boost Earnings with Secondary Income
Posted by Marshall Financial Solutions on 23rd October 2021 -
One in four Brits have taken to boosting their earnings with a secondary income stream – bringing in an extra £530 each month.
Research of 2,000 employed adults found that 58% of those working more than one job are motivated by making ends meet, and over a third (38%) want to increase their disposable income.
43% simply want to feel more confident about money, while 16% like the idea of being more productive in their spare time.
However, 37% have turned to an additional income as a direct response to rising bills, and 23% want money in the bank as a back-up plan. Paying for Christmas is also a concern for 25% of adults.
And for one in 10 adults earning extra, having a side income which is different to their main income is simply a way to pursue a particular passion.
Andrew Lindsay, CEO of Utility Warehouse, which commissioned the research, said:
“Whilst having a secondary income is increasingly common, an astonishing two thirds of people think it is either the norm, or soon will be.
“We’ve seen the rise of the second income first-hand with growing interest in our UW Partner opportunity, as more and more post-pandemic Brits are seeking work that can fit into the nooks and crannies of their lives, outside of the 9-to-5 and that can be done from anywhere.”
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