Martin Dasko

Sat, May 24, 2025, 11:01 AM4 min read

According to recent research from PYMNTS Intelligence, 41% of consumers have a side hustle these days, and 22% of those with a secondary income source cited having one to cover basic living expenses. In surprising news, the extra income accounted for 43% of the total income of someone with a side hustle.

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Regarding those earning under $50,000, the side hustle accounted for 76% of total income. This research indicates that Americans rely on side gigs to get by. However, there could come a time when you no longer have the energy to balance multiple jobs.

If you need your side hustle income to help out with expenses but are tired of working so much and want to quit the gig for a better work/life balance or improved mental health, there are ways to do this.

Here are five steps to quit a side gig you hate when you still need the money.

“The first step is being honest with yourself about what you can realistically handle,” said Michael Rodriguez, a CFP and the owner of Equanimity Wealth. “If you’re relying on the money, you can try tapering down the gig slowly instead of quitting all at once.”

You want to give yourself an adjustment period to not shock your finances. This means that you’ll want to set a deadline in advance so that you don’t abruptly drop a supplemental income stream that’s helping you get by. This leads us to the next step.

James Francis, a financial expert and CEO of Paradigm Asset Management, suggests conducting a freedom audit to determine what it would take to quit the side gig.

Here are a few questions to look at:

• Why are your expenses so high?

• How much of your monthly expenses depend on the side gig?

• How much money do you need to cover the basic living expenses?

You’ll want to run the numbers to see how much of your side gig income needs to be replaced to cover your bills without stressing about getting by. Once you have the numbers clearly outlined in front of you, this could help alleviate some anxiety about dropping the income stream.

“Take a look at your spending and start trimming expenses so that your full-time income can support your lifestyle,” noted Rodriquez. You’ll want to review your expenses to determine if there’s any room to find some savings so you don’t have to maintain two jobs to get by. At this point, you’ll want to go through your monthly subscriptions to see if there’s anything that can be cut or negotiated to help you save money.