Exclusive Insight: Cassie Walker, a resident of Melbourne, found a creative solution to financial strain by selling her pre-loved clothes online. What began as a quick way to earn extra cash during challenging times has now become a widespread phenomenon.
Recent studies reveal that Cassie is far from alone in this endeavor. An increasing number of Australians are turning to side hustles as a means to navigate the ongoing cost-of-living crisis, with millions joining the trend.
Remarkably, nearly half of these budding entrepreneurs have initiated their side ventures within the past year, highlighting a significant shift towards alternative income sources.
For most, these side gigs consume up to 10 hours weekly. However, financial rewards vary, as only about 20% of individuals earn more than $1,000 each month, equating to approximately $250 per week.
Most spend up to 10 hours on their side hustle per week.
But only one in five make more than $1000 per month (around $250 per week).
It doesn’t sound like much but Aussies are collectively earning an extra $14.3 billion per month from side hustles, based on the Omnisend data.
The survey also revealed that about 45 per cent of Aussies with side hustles have turned to online sales, using resale platforms like eBay and Facebook Marketplace to make quick cash off their old clothes and household items.
Walker has been freelancing in TV and media production for the past three years and relies on the extra cash from her side hustle to get by between contracts.
“I first started selling on [fashion marketplace] Depop five years ago,” she told 9news.com.au.
“I was working full-time but my hours were cut to one day per week [so] it was a financial decision first.”
Some of the pieces she sells are from her own wardrobe, others she picks up cheap at op shops and resells at a higher value.
Often this is because she’s upcycled the piece, turning a $2 buy into a $20 sale with a few small repairs.
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Walker also sells items on her social media pages from time to time, using Facebook and Instagram stories to advertise to her friends and followers.
Now she makes an average of $100 per week from the side hustle, sometimes more.
Last week, she pocketed $160 â enough to cover common monthly expenses like a phone bill or insurance fees for the average Aussie.
“It’s also helpful for those unexpected bills or more expensive weeks,” she said.
“I can easily sell something and have that cashflow.”
The best part about Walker’s side hustle?
She doesn’t have to invest loads of time into it.
“I put aside one day per month on photos, uploading, managing existing listings, et cetera,” Walker said.
“I do maintenance a few times a week, like sending offers to those liking my items, sending discount offers, changing photo orders and prices.”
The majority of Aussies with side hustles are the same.
About 35 per cent spend less than five hours on their side hustle per week.
More than 40 per cent spend just five to 10 hours on it per week.
For most, including Walker, it allows them to make enough to bridge the gap between their main source of income and the rising cost of living.
Especially in an age of job insecurity and growing adoption of AI in the workplace.
“As a woman approaching 40 I’m finding it very hard to find permanent work,” Walker confessed.
“I know I’m not alone in this, but while I’m juggling [freelance work] this is a great side hustle.”
