As older Gen Zers are graduating from college and entering the workforce, many have their sights set on homeownership. Unfortunately, several hardships have stalled homeownership for the younger generation. High inflation, economic uncertainty, exorbitant student loans, and a housing crisis have all converged to make the dream of owning a home challenging for zoomers — Gen Z.
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In order to afford even a starter home, many will need to take on a side hustle or part-time gig. Here are four ways Gen Z can make extra money now to save for a house.
Social Media Management
Social media is second nature to most Gen Zers. Regardless of the platform, the younger generation appears to have a firm grasp of how it works and what catches attention. Zoomers looking to buy a house in the future are encouraged to capitalize on their unique knowledge. Companies nationwide and even across the globe pay good money for social media management. In most cases, the job can be done remotely and may not interfere with a full-time position.
According to Zippia, a social media manager makes an average salary of $70,287 per year or an hourly rate of $33.79. The good news is that the side hustle can generally be done from the comfort of a couch, meaning a Gen Zer looking to maximize their money can live in an area with a lower cost of living while working for a company in a state that pays higher wages.
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Content Creation
Another potential part-time job that may be perfect for a Gen Zer hoping to buy a home is a content creator. Again, the generation has a unique understanding of what captures attention online. It seems innate to them, whereas older generations may struggle to do so. Depending on the platform and the creator’s popularity, the job could bring in six figures. However, it is essential to note that most content creators make far less.
As noted by SideHustles.com, the content creator field is more competitive. Spending some time investing in educational courses may help someone stand out in the overly crowded industry.
Freelance Writing
While artificial intelligence (AI) may be taking over the world, most companies are still eager to hire skilled writers. Writing is an art that is still coveted. While AI can enhance writing, it still doesn’t have the human element that some industries need to connect with their customers. Freelance writers are often sought to help generate articles, blogs or write websites.
According to Indeed, the average pay for a freelance writer in the U.S. is $22.15 per hour. However, some writers may pull in $40 to $50 per hour.
Dog Walking
Finally, Gen Zers who have a full-time job but need to make a little more in order to afford a house may want to consider dog walking or pet-sitting. A somewhat (depending on the animal) easy task can pay over $17 per hour, according to Payscale. For individuals who do not want to have to advertise, they can sign up on a platform that connects dog owners with walkers. Dog walkers typically get a portion of the service fee and any gratuity left by the pet owner.
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This article originally appeared on GOBankingRates.com: 4 Ways Gen Z Can Make Extra Money Now To Save for a House
