ATLANTA – New research from WealthUp reveals that Georgia ranks in the top five states struggling to make ends meet.
Release:
- A new study has identified the states where Americans are looking for a means to earn a second income the most, with those in Utah coming out top.
- The study analyzed nationwide Google searches around side hustles and making extra money, to find which states are in need of additional income.
- 33% of working Americans who already have a side hustle use the extra money to afford essential living costs.
- A personal finance expert shares their top tips on how to effectively launch a side hustle to help boost your income.
New data has revealed which states are scraping by based on where are most determined to find a way to boost their income outside of their regular jobs, with Utah taking the top spot.
The research, pulled together by personal finance experts at WealthUp, analyzed Google searches such as ‘side hustle ideas’ and ‘ways to make extra money’ over the last 12 months, to identify which states are the most in need of earning more.
It may come as little surprise that many are considering taking on a second job to supplement their primary income given the current economic situation.
In fact, according to a recent survey by Bankrate, 39% of working Americans already have a side hustle, with 33% of these people using the additional income to cover their day-to-day living costs.
According to WealthUp’s study, it turns out that those in Utah are most focused on increasing their typical earnings.
The state averaged 263.5 monthly searches per 100,000 residents, which is 65% higher than the national average of 159.5 searches per 100,000 people.
The most popular terms residents searched for were ‘side hustle,’ ‘ways to make extra money’ and ‘side hustle ideas.’
Georgia was found to have the second highest interest in sourcing an additional income, with 222.4 searches per 100,000 residents – 39% above the national average.
In third is Arizona at 220.5 searches per 100,000 people, which is 38% higher than the national average search rate.
The ten states searching for an additional income the most
Rank State Average monthly searches per 100,000 residents 1. Utah 263.5 2. Georgia 222.4 3. Arizona 220.5 4. Nevada 196.6 5. Colorado 194.2 6. Indiana 192.3 7. Florida 191.2 8. Oregon 191.0 9. New York 188.3 10. Illinois 188.1
At the other end of the scale, those in Vermont are looking to take on extra work the least, with only 110 searches per 100,000 people, which is 31% lower than the US average.
Mississippi and Alaska both follow very closely behind as the second and third-least interested states, at 110.6 and 111.1 searches per 100,000 residents respectively.
The ten states searching for an additional income the least
Rank State Average monthly searches per 100,000 residents 1. Vermont 110.0 2. Mississippi 110.6 3. Alaska 111.1 4. South Dakota 113.4 5. Montana 119.8 6. New Mexico 120.1 7. Wyoming 120.7 8. West Virginia 125.8 9. Maine 126.2 10. Iowa 134.4
“It is interesting that Utah shows the greatest interest in starting a side hustle, considering that it typically ranks middle of the pack in terms of living costs when compared to other states,” says Riley Adams, Founder and CEO of WealthUp, who carried out the research.
“We would expect states such as Hawaii, New York, California and Massachusetts to be topping the list given their high average living costs, but most of these states don’t even make it into the top ten,” she adds.
Top tips for starting a side hustle
Riley has offered the following advice when it comes to starting side hustle, regardless of where you live in the country:
“If you are struggling to keep on top of your bills, or if you just need to allocate additional money to your personal spending or savings, a side hustle could be a viable option if you have the time.
“For the best chance of success over the long term, try to strike a balance between something that you enjoy, something that you are good at and something that suits your personal situation.
“If you love animals and have time in the evenings or weekends, consider setting up a dog walking service and target customers who might not have the time or inclination to exercise their pets.
“Or, if you have little free time to put into a side hustle, consider assets that you already own, which might already be in high demand. If you have a spare room and don’t mind the occasional guest, consider letting it out on Airbnb at a competitive rate.
“Alternatively, if you own a car and work from home, consider leasing out your vehicle car on platforms such as Turo or Getaround, rather than letting it sit on your driveway.”
