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Millions under pressure to make this big change

The Australian dream of a stable job that pays the mortgage and the bills is looking increasingly shaky, with millions of Australians now looking to a second job to beat back rising costs.

A survey of 1096 respondents found 32 per cent of Australians aged 18 and over, or some 6.7 million people, feel financially pressured to look for a supplementary job in 2024.

The numbers are more extreme for women, with 41 per cent of females reporting a need to work more than one job compared with 24 per cent of men.

According to the Australian Bureau of Statistics, 970,700 people nationwide worked multiple jobs in December 2023.

Gen Z Australians, or those born between the late 1990s and early 2010s, are struggling the most, with 56 per cent of the cohort saying they would need to look for a second job.

Some 40 per cent of millennials, or those born from the early 1980s to the mid 1990s, said they would look for a second job.

Finder money expert Rebecca Pike said the figures showed a growing number of households were struggling to “make ends meet”.

“Many have no option but to take on a second job to keep their head above water,” she said.

“The cost-of-living crisis means many are in financial strife and are finding it difficult to pay for rising insurance and energy bills.”

An earlier Finder survey of 1002 Australians from December 2023 found 42 per cent of households, or an estimated 3.9 million, said rising grocery bills was one of their chief financial stressors, a 26 per cent increase, or a bump of 1.5 million new households, from just two years ago

Nearly all Australians are now pursuing strategies to save money at the checkout, the survey found, with 92 per cent of Australians altering their shopping habits.

Ms Pike said there were other ways for struggling Australians to top up their bank balances short of taking on a second job.

“From renting out equipment you’re not using at home to renting out a spare room or advertising your skills on Airtasker, side hustles can be a great way to earn some extra cash,” she said.