Millions of people bring in extra income with a 'side hustle'

A new study shows that more than 44 million Americans have side jobs, and experts recommend using the extra cash to pay down debt and beef up savings.
1:26 | 07/16/17

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Transcript for Millions of people bring in extra income with a 'side hustle'
Back now with "Your money," and a growing segment of the economy known as a side hustle. From baking to driving, millions of people with another job to bring in much-needed cash. Here's Rebecca Jarvis. Reporter: Tonight, from Uber to etsy. Millions of Americans taking on extra work to make some extra cash. Jason lawregren is a working actor who uses the app task rabbit to find odd jobs to supplement his income. I'm going to be installing some window guards. Fixing some light bulbs. Reporter: How much are you making? It varies but averages between $40 and $60 an hour. Reporter: Lawregren, part of a growing trend. A new study, showing more than 44 million Americans have side jobs, in addition to working full time. They range from retirees to millenials, the largest group of side hustlers. Because millennials are contending with record levels of student loan debt and underemployment, they are extremely likely to side hustle. Reporter: But experts warn, be careful with that cash. Some of the cons of a side hustle are burnout, living beyond your means because you're overly dependent on your side hustle income. Reporter: Instead, money from those side jobs should be used to pay down debt and beef up that savings account. So that you're not living beyond your means. Rebecca Jarvis, ABC news, new York.

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