Research from the Australian Bureau of Statistics (ABS) found a record 850,000 Aussies were being forced to take on second and even third jobs.
According to a survey by freelancing website Fiverr, as many as one-third of Australians have considered a second job in response to the soaring cost of living.
A study by Simply Business found 55 per cent of side hustles were set up during the pandemic, while 70 per cent of small businesses said the cost of living was their greatest challenge this year.
To get you inspired, here are five Aussies who started their own business.
Gina Lentinello - Jewellery making
Now a new home owner, Gina Lentinello started a unique second business making permanent jewellery.
The necklaces, bracelets and anklets are welded together to be worn for life.
The money from her second job helped her buy her first home and she’s now trying for a baby.
Jessica Dennis - Boat renting
Mum Jessica Dennis started up a side hustle renting out her second-hand Formosa Bowrider boat.
She is now on track to make around $60,000 a year.
Bella Burgio - Wardrobe renting
By day, Bella Burgio is an accountant but on the side she rents out her wardrobe to help pay her bills.
Zack McNab - Garage renting
The money he makes helps cover the rent on his Collaroy home.
Scott Sullivan - Boat and caravan renting
He brings in around $6,000 a month.