A generation ago, a regular full-time job was all anyone needed to sustain a more than comfortable lifestyle. You could provide for yourself, for your family, and still enjoy life with disposable income. Today, many young Australians know a single full-time job isn’t enough. 

In 1984, the median annual income was approximately $19,188, which would equate to about $74,405 in today’s purchasing power. As of early 2026, the average annual income for a full-time employee in Australia is $90,500. The statistics suggest we’re doing better, but the reality is that there are key disparities with the cost of living. For example, in the 1980s an average home cost 3-4 times the average salary. Now, it costs 9-10 times the average. 

Side hustles have become a consequence of this problem, it’s no longer only for the passion about what they are building. Instead, it now stems from necessity. Westpac research has found that 55 percent of Australians are currently gathering earnings from a side hustle or are genuinely open to the idea of starting one. Young Australians represent most of this data, with the largest involvement coming from people under 50.  

Melbourne Midwife and Founder of Australian Birth Guides, Katelyn Letoille, is no stranger to the struggle of living on a single income. 

“A lot of my wage was going to necessities,” she tells upstart. “Petrol, groceries, rent. I didn’t have much money left over for saving.”  

Letoille isn’t the only one struggling with the prices of basic essentials these days. In 1980, a loaf of bread cost approximately 54 cents, whereas a similar loaf today could cost anywhere from $2.50 to $3.50. This is only a difference of around 25 cents per loaf, once adjusted for inflation. This fact on its own, doesn’t seem all that significant, but in 1980 a loaf got you almost 2kg of bread. Today, Australians usually get a 650g loaf. 

Finally, having enough of the constant financial insecurity, Letoille decided to launch her own side hustle earlier this year. The 24-year-old has created a flexible and personalised birth guide that allows expecting mothers to explore their preferences for their labour journey and ensures their doctors can refer to this plan in the delivery room. 

“When I started working as a full-time midwife, I found that many women weren’t sure what they wanted their labour journey to look like and didn’t know they had options,” she says. “I wanted to educate women and help them advocate for themselves by creating these user-friendly birth guides.” 

But not everyone starts a side hustle to cover their essential needs. Corporate Lawyer and Founder of Sapori D’Amalfi, Patrick Ferro, believes that to get ahead of his savings and secure his future, his extra job is essential to achieve the same financial stability that his parents had when they were his age.  

“I slowly began to understand that if you really want a level of financial freedom, it lies a bit beyond just being an employee and you could potentially be more successful as a business owner,” he tells upstart. “It was an ongoing ambition that I’ve always had.” 

Ferro manufactures and distributes Limoncello, an Italian liqueur, based off his own family’s recipe. He established his business in 2024.  

A downside of the side hustle is that maintaining a work-life balance becomes incredibly difficult. Letoille has difficulty managing her time between her career and side hustle. 

“I guess you just make it work, whether it’s doing half an hour before work or when I get home from work,” she says.  

“I wish I could put more time into it to help it grow faster.”  

Like Letoille, Ferro hasn’t perfected the balance between putting ample energy into his business, while also prioritising his own needs and social life.  

“It is quite difficult,” he says. “I think that I’ve managed it quite well, but that said, I could put more effort into certain aspects of the business and work endlessly if I wanted to.”  

“With these side hustles, if you actually want to see consistent results, you’re going to find it quite difficult to maintain that work life balance.” 

However, side hustles don’t only improve financial freedom, they are also personally rewarding and gratifying. Westpac National General Manager, Anthony Mathews, says Australians now “embrace” working more than one job to relieve financial stress and are predominately turning to side hustles. Despite this, Mathews also acknowledges that they offer more than just financial benefits. 

“While financial relief is the primary driver, we’re also seeing Australians pursue side hustles for personal fulfilment, flexibility, and to explore their passions,” he says.  

“Side hustles are helping people earn extra income, often while doing what they love.” 

Letoille credits her genuine enthusiasm for her small business on the lasting impact her birth guides have on her patients.  

“I feel like that passion was built on helping women to become more educated and helping them achieve their goal birth,” she says. “[The business] compliments what I do, it makes it easier and more rewarding when you see better outcomes in the delivery room.” 

For Ferro, his passion sparked from a family trip to Italy. He got to see where his parents’ families were from and learn the recipes from where they were invented. It was here the idea was born, to bottle up this experience and bring it back to Australia. 

“Growing up with Italian heritage, your ethnicity is ingrained in your DNA,” he says. “I always wanted to be involved in the Italian community, so it’s certainly something that I’m passionate about and I have loved the opportunity of building a business I am so proud of.”

As the cost of living rises and the pressure on young Australians grows, there is no guarantee that they are working enough to accomplish their financial goals. There is only hope that they are doing just enough to get by. For Ferro, the flexibility of owning his own business helps him strive to become successful in all aspects of his life. He doesn’t hesitate when it comes to living a fulfilling, comfortable life.  

“For me, it was trying to get as much as you can out of life,” he says.  

“But at the same time, having a safety net, just in case one day I want to step away from my white-collar job and do something different.” 

Article: Monique Giordano is a second-year Bachelor of Media and Communications (Journalism major) student at La Trobe University. You can follow her on X @moniquegiord.

Cover photo: Sapori D’Amalfi. Photo provided by Patrick Ferro. This photo has not been modified.