Everyone is looking to add a little extra cash to their wallet. It is the era of the hustler, so to speak. Young professionals and veterans alike opt for a more flexible work architecture rather than having a single line of income and locking down a day job for 40-60 years of 45-hour+ work weeks (excluding a commute), from stringing together two or three different side-jobs to establishing lines of passive income on top of a full-time job or even choosing the route of an entrepreneur. This new wave of professionalism caused a significant shift in the perception of success and has fundamentally changed how individuals approach and think about personal finance.
In developing a career these days, there is a more considerable emphasis on freedom and flexibility than on something like longevity. It was considered normal to have a job with a single company for decades and decades in the past. In the more mobile, agile, and fast-paced marketplace that exists today, though, an employer might value an employee who shows a hunger for advancement throughout their career – even if that means they’ve bounced around from organization to organization. No matter your job history, though, or where your career may be at the moment, today’s marketplace is chock-full of side-hustle opportunities that can supplement your income.
The Gig Economy
The marketplace has returned to what’s considered a gig economy. As a result, organizations cut HR costs by transforming full-time jobs into contracted temporary roles, a salary, and a retirement fund.
If anything, this should only encourage consumers and individuals to set up multiple income streams knowing that the reliability of a full-time position is waning swiftly. The other half of this equation is the rise of tech-driven brands that set themselves up for part-time staff. These are services like Uber, UberEats, InstaCart, GoPuff, Lyft, and others. While these companies offer a highly convenient array of services that speak directly to the modern consumer and digital natives alike, they are also purposely structured to be highly flexible.
This flexibility is the structure that brings logic to hiring a network of independent contractors who make their working schedules, allowing for individuals to dictate when, where, and for how long they work. These are the essential ingredients for creating a worthwhile side gig that offers consumers a supplemental income stream.
The Great Resignation
Pushing further into the resurgence of the gig economy, it becomes apparent how many other factors are at play. The past few years have been given “The Great Resignation.” It refers to the mass exodus of full-time employees from the workforce in early 2020. Early 2020 is when the global COVID-19 pandemic became a real threat.
While many organizations could transition to remote operations almost entirely successfully, many others continued to ask employees to come into the office. Feeling pressure from higher management, being uncertain about the future, and acknowledging a general dissatisfaction with the way employees are treated led to a massive portion of the workforce going into early retirement or venturing out on their own.
While a large segment of this population chose to enjoy an early retirement, many were left to figure out their career on their own. Again, this reinforced the importance and value of creating multiple income streams and finding new and innovative ways to continue building wealth.
Every Dollar Matters
When it comes to money, the fact is that every dollar matters. Whether you’re a professional vet counting down the months and weeks until you can retire or just getting your career off the ground and putting in the grind each day, every dollar matters.
Understanding this is one thing. However, practicing a lifestyle that employs this philosophy is a whole beast. There has been a flurry of new-aged banking and personal finance companies in recent years. Shifting the banking focus to the prosperity of the individual has paved the way for consumer-centric innovations.
This is the case with the Yatta debit card. The Yatta debit card puts money back in your pocket without the necessity of finding and working a side hustle. This sounds like free money, and that’s because it is. With every purchase made by a Yatta debit card, the user has at least 1 in 150 odds of having the complete purchase reimbursed. Now that’s making every dollar matter.