Study: Financial Pressures Drive 71% of U.S. Workers to Rely on Secondary Income Sources

MyPerfectResume, a leading resource for resume and career advice, has announced findings from its 2025 State of Supplemental Income in America Report, highlighting how financial pressures drive American professionals to seek additional income streams.

The December 2024 survey of 1,065 U.S. workers reveals a striking reliance on side businesses, freelance work and second jobs to meet financial needs. The report highlights key trends in secondary income sources, workers’ motivations for earning extra money, and the ripple effects of second jobs on their work performance and personal lives.

Survey highlights:

• Most workers rely on secondary income sources, such as side businesses, freelance work (39%) or second jobs with another employer (32%), for their financial well-being.
• Another 24% rely on investments, with only 5% relying solely on their primary job to meet their financial needs.
• Paying off debt or loans (42%), saving for major life goals (37%) and covering living expenses (35%) are top motivators.
• 49% say having a second source of income hurts focus and performance at their primary job 
• 21% report a decline in physical health due to overwork.
• Men (44%) are more likely than women (35%) to own side businesses.

"With nearly three-quarters of American workers relying on side businesses or a second job, our findings reveal a clear trend: the pursuit of secondary income is not just a financial strategy — it’s a necessity for many,” said Jasmine Escalera, career expert for MyPerfectResume. “These insights underscore the evolving realities of today’s workforce and the diverse motivations driving additional income sources."

Secondary Income Sources: A Common Strategy for Financial Stability

Many workers turn to side businesses, freelance gigs and second jobs to make ends meet, illustrating the widespread need for additional income. There are a variety of ways workers approach earning additional income, including:

• 39% of respondents own a side business or freelance.
• 32% work a second job for another employer.
• 24% rely on investments such as stocks, bonds, or cryptocurrency.
• Only 5% rely solely on their primary job for income.

There are some trends related to how workers are choosing to supplement their primary income:

• 44% of men own a side business compared to 35% of women.
• Men are more likely to rely on investments (25%) than women (23%).
• Higher-income earners ($100K+) are more likely to lean on investments (22%) for additional income.

Top Motivations for Pursuing Additional Income

Workers cite a mix of financial responsibilities and aspirations as their primary reasons for seeking additional income sources. The following are the top financial pressures and lifestyle ambitions driving workers to take on more responsibilities:

• 42% want to pay off debt or loans, such as credit card debt or student loans.
• 37% want to save for major life goals, for example, buying a home or retirement.
• 35% need to cover basic living expenses, such as housing and groceries.
• 29% plan to build a financial safety net, such as building savings or creating an emergency fund.
• 23% hope to be able to afford non-essential items, like vacations or hobbies.
• 20% need to pay for childcare or school for their children.

Impact on Work Performance

Earning extra money can have mixed effects on workers' focus on their main roles. Of those surveyed, nearly 49% say having a second income source hurts focus and performance, while 40% say it improves their focus and performance by reducing financial stress. Some (11%) say there is no impact on their primary job performance.

• Men are more likely to experience significant focus reduction (20%) than women  (17%).
• Lower-income earners report significant focus reduction at higher rates (34%).

Personal Life Sacrifices

For many, pursuing additional income has affected their lives, from health impacts to reduced leisure time. This report uncovered several sacrifices workers make to achieve financial goals.

• 21% report a decline in physical health due to overwork.
• 16% have sacrificed personal hobbies or interests.
• 16% have less time to spend with family or friends.
• 13% feel more burned out or stressed.
• 11% report no adverse effects on their personal life.

Men and women experience the impact on their personal lives somewhat differently.

• 16% of women report health decline compared to 27% of men.
• Men are more likely (13%) to say their personal lives haven’t been negatively affected than women (9%).

Survey Methodology

The findings were obtained by surveying 1,065 American respondents on Dec. 11, 2024. They were asked questions about their sentiments around salary satisfaction, how they supplement their primary earnings and the challenges they face. These included yes/no questions, open-ended questions, scale-based questions relating to levels of agreement with a statement, and questions that permitted the selection of multiple options from a list of answers.

To view the full report and more information, please visit https://www.myperfectresume.com/career-center/careers/secondary-income-sources or contact Elizabeth Buccianti, senior manager of public relations, at elizabeth.buccianti@bold.com.