Margy was working a 9 to 5 job. As her bills and needs kept increasing, she soon realized that her income wasn’t enough to sustain her. It was time for her to get a side hustle. She started buying and selling online, and today, her side hustle has blossomed into her main source of income.
For most, the journey toward financial independence often involves more than just a 9-to-5. Welcome to the age of the side hustle, where people are juggling multiple income streams to make a living and live comfortably.
For years, Black women have been graduating college at higher rates, but still, they continue to make less money than other racial groups, earning about 64 cents for every dollar a white man makes. Instead of throwing their hands up and accepting defeat, what do they do? They are turning lemons into lemonades.
Black women have usually made less than their White counterparts in today’s rapidly evolving labor market, and side hustles serve as a common platform to boost income and reduce the wage gap. They range from establishing skincare companies to acting as online influencers, and there is an increasingly growing number of Black women charging for their passions and skills.
Not only do side gigs offer a fantastic opportunity to earn extra cash, but they are also a pathway to reclaiming financial independence while enjoying new passions and gaining entrepreneurial experience. Whether you enjoy talking on camera, running errands for people, writing, or even cooking, there’s something out there to help boost your earnings.
Some of the popular side hustles among Black women include:
- Beauty and haircare brands
- Handmade crafts
- Online tutoring
- Freelancing and consulting
- Affiliate marketing
- Content creation and influencing
Why Side Hustles are on the Rise Among Black Women
A 2019 survey conducted for the New York Times notes America as the land of the side hustle. Another survey by the financial services company Bankrate notes that more than a third of American adults now have a second stream of income.
Ever wonder why so many Black women are embracing side hustles? The reasons are pretty obvious.
Wage disparities and economic pressures: A lot of women are shouldering family responsibilities. There are debts to pay, the cost of living keeps rising, and the 9-5 does not cut it. In search of more money to be able to foot the bill, most Black women are turning to side gigs. The additional income can help to pay for basic necessities.
Desire for financial freedom: Black women are getting tired of working tirelessly while being underpaid and undervalued. Black women are jumping on the side hustle trend, which offers a path to financial freedom as one can turn it into a full-time business. This can be a stepping stone to creating and growing their own businesses while building lasting wealth for future generations.
Earning more money with less time commitment: Most Black women have realized that they can earn more money from their side hustles than their typical salaried jobs. Side hustles can allow one to work fewer hours for the same or even more income. For example, while someone is earning $30/hour on a regular job, another person is out there making $500/hour for consulting work on the side.
Flexibility and autonomy: The flexibility to work on one’s own terms is one of the things that make side hustles appealing. Many are done remotely, on your own time, and from the comfort of your home. This way, you have time for family and friends.
How Technology Has Changed The Way Black Women Make Money
The rise of technology has made it easier than ever to start a side hustle. Almost anyone with a computer or smartphone can make money online by selling literally anything from home.
Here is how:
- Platforms like Etsy, Shopify, and social media marketplaces have made it easier than ever to advertise and sell your products and services. Black women can sell their handcrafted jewelry, clothes, and other products to customers all over the world.
- With Instagram, TikTok, YouTube, and podcasts, Black women can go into content creation, monetizing their creativity.
- Anyone can open an Upwork or Fiverr account. Black women possessing writing, editing, translation, or other in-demand skills can leverage these platforms to earn a passive income.
It is evident that side hustles are here to stay and will get even more popular over time. We are in an era where most people’s 9-5 jobs cannot provide all the financial security needed. More people are realizing that working smarter pays more than working harder. You do not have to be chained to a desk for 40 hours a week to achieve financial freedom. With technology, creativity, and a growing digital marketplace, you can have multiple streams of income from the comfort of your home. All you have to do is find ways to monetize your skills, passions, and ideas. Choosing a side gig that aligns with what you love and what you’re good at will help you reach your financial goals in no time.
