A new survey from Capital One Canada reveals that almost half (49 per cent) of Canadians aged 18 to 44 are considering a secondary source of income—or a “side hustle”—to help them achieve their financial goals.
The survey, which polled over 1,000 Canadians, highlights a growing shift among Gen Z and millennials away from the traditional single-income model. In fact, 36 per cent of respondents in that age group say they already have a side hustle in addition to their main job.
“Our research shows that Gen Z adults are 10 per cent more likely to have a side hustle than their Millennial or Gen X counterparts,” says Becca Mintz, VP at Capital One Canada. “For around a third of these young self-starters, access to credit was crucial in getting their business venture up and going.”
According to the findings, many of these younger Canadians are leaning into their entrepreneurial spirit to navigate financial pressures and build security. Among those currently working a side hustle, 61 per cent consider it a long-term commitment to meet their financial needs.
Becca Mintz
Interestingly, 94 per cent of respondents said their primary motivation was simply to earn more money—not to pursue a passion, hobby, or creative outlet. Nearly half (49 per cent) said they would be financially stressed without the extra income, including individuals who make over $100,000 from their primary job.
The data further show that the majority are using their side hustle income for essentials: 55 per cent said it goes toward non-negotiable needs, and 59 per cent said it helps them build critical savings for the future.
“Capital One is committed to empowering Canadians to succeed financially. We have provided more than four million Canadians with access to credit, with the goal of breaking down barriers to enable people to take control of their financial well-being,” adds Mintz.
But while the extra income is beneficial, the time commitment required can be a challenge. Among those earning between $1,000 to $3,000 per month from a side hustle, 55 per cent work 11 to 20 hours weekly. Those making over $3,000 per month are even more invested, with 32 per cent putting in more than 20 hours a week.
That workload is deterring some from jumping in: 59 per cent of younger Canadians cited a lack of time as the main reason they haven’t started a side hustle. For those who have, more than half (51 per cent) say the effort involved is more than they expected. Meanwhile, 46 per cent report difficulty balancing side hustle responsibilities with their primary job or education, and nearly a third (29 per cent) admit it’s interfering—or could interfere—with their success in those areas.
Mario Toneguzzi
Mario Toneguzzi is Managing Editor of Canada’s Entrepreneur. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 and 2024 as one of the top business journalists in the world by PR News. He was also named by RETHINK to its global list of Top Retail Experts 2024 and 2025.
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