Life is expensive. With the effects of inflation showing up in everyday life, threats of tariffs making things even more expensive and housing affordability the worst it’s ever been — it can feel hopeless.
So I turned to my artificially intelligent companion (ChatGPT) and asked real, hard questions about how to survive in this economy.
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‘Hey ChatGPT, Do I Need a Side Gig To Survive in This Economy?’
I asked ChatGPT whether or not I needed a side gig just to survive these days. Here’s what it said:
“You might need a side gig in this economy — but whether it’s essential depends on your financial cushion, career stability and goals. Here’s a breakdown:
- Inflation is eroding purchasing power — Even if your salary hasn’t changed, your money buys less.
- Recession concerns — Layoffs and hiring freezes mean job security isn’t guaranteed.
- Tariff and supply chain pressures — These can push prices higher, especially on imported goods, squeezing budgets further.
- Stagnant wage growth — Many salaries aren’t keeping pace with the cost of living.”
Right off the bat, ChatGPT knew exactly why I was asking this question.
Yes, my money disappears faster. Yes, the economy seems unstable. And yes, tariffs are the unknown X-factor that could make things worse.
ChatGPT went on:
“When a side gig makes sense:
- You’re living paycheck-to-paycheck — An extra $300-$1,000 a month can create breathing room.
- You have high-interest debt — Side income can accelerate debt payoff.
- You want to boost savings or investments — Especially for an emergency fund or retirement.
- You’re in a volatile industry — A side gig can be a backup plan if your main job is at risk.”
All of this makes sense. And in many cases, an extra $300 to $1,000 would make all the difference in the world between digging deeper into debt and actually saving some money.
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But this doesn’t mean everyone needs a side gig. Here’s what ChatGPT said about people that might be just fine:
“When you might not need a side gig:
- Your expenses are already well below your income — If you can comfortably save 20%-plus without extra work, you may be fine.
- You already have a robust emergency fund (six-plus months) — This provides flexibility even in downturns.
- You’re focusing on upskilling in your main career — Sometimes investing in career growth beats chasing small extra income streams.”
This seems a bit obvious. Of course, if you make more than you need, you don’t need a side gig!
But I appreciate that ChatGPT also included a bit about having a six-month emergency fund. If you’re in a position to have a six-month runway if you lose your job, you probably sleep better at night than most people.
And while side gigs can help you get cash quicker, it might stagnate your career growth by taking away from your ability to take classes or improve your work skills to ultimately earn way more money.
Finally, ChatGPT gave some helpful suggestions to surviving this expensive economy WITHOUT getting an extra job:
“Alternative ways to ‘survive’ without working more hours:
- Cut nonessential expenses (subscriptions, dining out, unused services)
- Negotiate a raise — Often higher return on investment (ROI) than adding a second job.
- Start a micro-investing habit — Even small amounts compound over time.
- Monetize existing skills — Consulting, tutoring or selling templates/resources.”
I will say, this part of the answer wasn’t too helpful.
Obviously, if you can’t afford life, you need to cut expenses. And while asking for a raise sounds nice — it can be a complicated process with a low success rate. And ChatGPT still told me to get a side gig by suggesting consulting, tutoring or selling my own products. So while the original advice was helpful, the “alternate” options were less so.
ChatGPT finished off by suggesting some guidelines for deciding on whether to pick up a side job or not:
“A side gig isn’t mandatory for everyone, but in today’s economy, it can act as both an income booster and an insurance policy against financial shocks. The real decision comes down to whether your current income is resilient enough to weather inflation, potential job loss and higher living costs without you feeling financially strained.”
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This article originally appeared on GOBankingRates.com: I Asked ChatGPT If I Need a Side Gig To Survive in This Economy
