Impact of Side Hustles

The Penny Hoarder’s 2026 survey of 1,000 adults with side hustles delved into the world of side hustles, also known as gig work, freelancing, and contract work. In this economy, more adults are turning to secondary streams of income to make ends meet. A staggering 53% of those adults admitted that they would struggle to cover essential expenses if not for their extra income earned through this work, with 44% of those surveyed working two side gigs.

Side hustles have become not only a financial backup, but a remedy to the financial gap more Americans are confronted with between their income and the increased cost of living. The survey found that the top three reasons for starting a side hustle were to cover the cost of living, followed by building an emergency fund and then paying down debt. The Penny Hoarder also found that those surveyed bring in about $15,000/year in additional income that they earned through side hustles.

Four Side Gigs to start today to make money this fall:

1) Home Chefs/Catering

Another hot-ticket side hustle for this fall is Home Chefs & Caterers. This seasonal gig can have the potential for long-term success as well, as seen by one woman’s “kitchen-table side hustle” earning her a cool $379,000 in just 2023 alone. Home chefs and caterers can leverage not only the seasonal need for Halloween parties or Thanksgiving and Friendsgiving events, but also corporate events, weddings, or birthdays.

2) Family Portrait Photographer

A family portrait photographer is also a great side hustle that doesn’t require a huge start-up cost. Forbes calculates that some photography side gigs can cost $2,000 or more to start in total, depending on equipment and if you are renting a studio space. “Basic gear (camera, lenses, lighting), a website and insurance make up the bulk of expenses. You can start lean and scale up as you grow.” Forbes provides a step-by-step guide on how to begin a photography side hustle. Freelance photographers also have the option to work on location or in studio, with flexible hours to work around busy family schedules.

3) Hand-made Crafters for Soaps, Candles, or Jewelry

Hand-made crafters are a hit at holiday markets and when it comes to gift giving. According to VendorLoop, a common mistake crafters make is underpricing their goods. Many crafters for goods such as soap and candles can expect to sell their goods for $12-$35 while jewelry makers are around $25-$100 per piece. Revenue can vary by craft fair or event size, and some crafters opt for online only by utilizing Etsy or their own online store.

4) Dog Walking or Pet Sitting Services

Dog walking or pet sitting is another side hustle that has a low start-up cost. Zip Recruiter confirms that as of October 2026 the national annual pay for a dog walker is $35,770 with Rover Pet Sitter having an average annual pay of $45,364. Websites that connect pet care providers with pet owners can charge service fees however. Rover charges a 20% service fee per booking for care providers and an 11% fee to owners at check out, depending on selected preferences. With the holidays around the corner many people have busier schedules, social commitments, or travel, meaning a greater need for pet sitting or dog walking.

Rate of Side Hustle to Small Business

Approximately 44% of small businesses in 2023 started out originally as side hustles, according to Entrepreneur. Payroll company Gusto analyzed the results of a survey of 1,300 business owners in 2024 and found that 25% were working full-time jobs at the time of starting their business. Gusto also found in another survey conducted in 2025 of 1,051 founders that 50% of new business owners said AI made the process significantly faster or less expensive. More business applications have been filed in 2026 than ever before, with an impressive increase of 8.1 percent from June 2026 to July 2026 alone.

Tips for First-Time Business Owners

Whether you’re looking for a short-term side hustle or thinking of expanding your gig work into a small business, successful entrepreneurs should consider:

  • Create contact information for your business, including a business email address and phone number
  • Establish an EIN
  • Open a bank account for your business
  • Create a website and/or social media accounts to build your online presence
  • Plan your financial forcast & how you will fund your business – you can reference the SBA for planning resources.
  • Set goals – both long-term (quarterly, yearly) & short-term to keep things moving in your pipeline.
  • Get commercial business insurance