How many gig workers are using that work to generate most of their income?

Answer:

• 12% of gig workers said they earned more than half of their income from gigs over the prior month

• An even lower 6% said that they earned at least 90 percent of their income from gig activities

Photo by Viktor Bystrov on Unsplash

Questions:

• What are some potential benefits of gig work?
• Why might some gig workers choose to diversify their income sources rather than relying solely on gig work?
• How might a fluctuating income from gig work impact one's ability to budget, save, and plan for the future?
• Would you consider gig work as a primary or secondary source of income in your future? Why or why not?

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (Federal Reserve):

"Gig activities were typically not full-time jobs. Twenty-nine percent of adults who performed gig activities (5 percent of all adults) said they spent more than 20 hours doing so over the prior month. Fifty-three percent of gig workers (8 percent of all adults) also had another job working for someone else."

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Play The Uber Game with your students to see if they can make it in the gig economy!

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Sharpen your students' budgeting skills with NGPF's Budgeting unit!

About the Author

Ryan Wood

Ryan is the Partnerships and Adoption Manager for Next Gen Personal Finance’s midwest region. He brings his experience as a former teacher, curriculum designer, and sales and marketing professional to state organizations and school districts in supporting the implementation of their personal financial education efforts. He graduated from the University of Wisconsin-Green Bay and earned his teaching credential from Saint Mary’s University in Winona, Minnesota. He proudly taught at two rural high schools in Wisconsin before transitioning to curriculum design at NGPF, and is now excited to be on the front lines in delivering the best possible financial education in the midwest. He and his wife have three beautiful daughters, each of which inspire him to share the impact of being sound financial stewards both at home and as lifelong learners.