One in 12 people have a side hustle to ‘make ends meet’, new research shows
The average spending on utility bills rose 43.9 per cent year-on-year in July
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Your support makes all the difference.A growing number of people are taking up side hustles to make ends meet during the cost of living crisis, new research has found.
The research by Barclaycard pinpointed 10 ways that Britons are saving money as inflation levels reach a 40-year high.
Its monthly Consumer Spending Index survey for July of 2,000 people found that one in 12 (eight per cent) Britons now have a side hustle in order to create a second income.
These jobs ranged from babysitting, selling clothes online, or tutoring to fishing, crocheting and marking exams.
The survey also found that more people are returning to in-store shopping, with in-person shopping growing faster than online shopping in July.
It suggested that the reason for this could be because more people are inclined to “try before you buy” to save money and prevent waste. Overall, online shopping saw a 3.3 per cent decline in transactions in July.
People are also using their cars less and opting for staycations instead of overseas holidays, the research found.
It cited increasing petrol prices as the reason, as petrol and diesel prices saw a 29.9 per cent jump in fuel spending in July compared to the same time last year.
The research found that 26 per cent of Britons are looking to reduce the amount they travel by car, with 57 per cent walking more and 53 per cent taking fewer long journeys.
The survey also found that one in five (20 per cent) Britons have decided against a summer holiday abroad this year, with 16 per cent opting for a UK staycation instead.
Barclaycard said that the average spending on utility bills rose 43.9 per cent year-on-year in July, which saw 41 per cent of Britons attempting to save energy where possible.
It found that 79 per cent of respondents are turning off lights when they leave a room, 59 per cent are washing clothes on lower temperature settings, 50 per cent are taking shorter showers, and 24 per cent are batch cooking meals.
The research comes as a separate study found that cash-strapped singles were opting for cheaper dates.
The study from dating app Bumble called the phenomenon “cash-candid dating”, and said that singles were also more open to talking about their finances that ever before.
Research from earlier this week has also found that more Britons are selling their possessions to make more money.
The survey of 2,000 adults, commissioned by Vodafone, found that a quarter of respondents had sold some of their belongings in order to make cash.
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