US EditionNew survey reveals Americans are turning to side hustles and extra jobs to pay off debt
- Experian conducted a recent survey revealing that many U.S. Adults are turning to side hustles and extra jobs to pay off unmanageable debt.
- This shift follows widespread reports of debt causing constant stress and forcing hard choices between debt repayment and basic living expenses.
- Survey results indicate that around 36% of respondents took on extra work, approximately 26% applied the snowball technique by focusing on smaller debts first, and nearly 23% used budgeting tools to keep track of their finances while managing debts such as credit cards and personal loans.
- Experian is launching a $5 million program to provide debt assistance to 5,000 families in Louisiana, collaborating with LSU basketball player Flau'jae Johnson and making free financial management tools available to users.
- The findings suggest 70% of Americans are avoiding new debt through tactics like limiting credit card use and buy-now-pay-later options while 60% have support systems aiding their debt payoff efforts.
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Denton Record-Chronicle+58 Reposted by 58 other sources
New survey reveals Americans are turning to side hustles and extra jobs to pay off debt
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·Denton, United States
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By Peter Boolkah, a corporate, award winning business coach with over 30 years experience helping companies, in the UK and US, scale up and grow. A recent LinkedIn poll I conducted revealed a trend that should make every business leader pause. Seventy per cent of respondents, many of them senior leaders across early years support, business services, and tech, reported that employees in their teams are now working second jobs. Not for career deve…
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