Understand the Gig Economy: Why Millions are Choosing Freelance and Side Hustles

Learn how the gig economy impacts workers' finances and get tips for managing taxes, savings, and benefits. How does the gig economy affect people financially? How can gig workers save for taxes and retirement without employer benefits? Hosts Tess Vigeland and Sara Rathner are joined by Rick VanderKnyff, NerdWallet’s senior news editor, to explore what defines a gig worker, how many Americans are involved in gig work, and what this means for benefits like healthcare and retirement. They discuss the complexities of gig work, its rise during the pandemic, and what gig workers can do to manage their finances and save for the future. Plus: Tess and Sara cover some of the week’s top financial headlines, including the latest job market report, tax filing extensions for Hurricane Helene victims, and rising interest rates on credit card debt.  Learn about the best no balance transfer fee credit cards: https://www.nerdwallet.com/article/credit-cards/best-no-balance-transfer-fee-credit-cards  In their conversation, the Nerds discuss: gig economy, gig workers, freelance jobs, side hustles, independent contractors, gig work benefits, gig worker taxes, freelancer taxes, how to save as a freelancer, managing freelance income, self-employment tips, self-employment tax, gig economy trends, freelance health insurance, gig work flexibility, saving for retirement as a freelancer, freelancer budgeting, part-time jobs, gig economy apps, freelance income tips, budgeting for gig workers, self-employed retirement plans, healthcare for gig workers, gig economy statistics, gig economy news, freelance careers, gig worker rights, independent worker benefits, alternative work arrangements, and freelance tax tips. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com. Like what you hear? Please leave us a review and tell a friend.

Om Podcasten

NerdWallet’s trusted finance journalists answer real-world money questions to help you make smarter financial decisions with confidence. Each episode dives deep into topics like budgeting, saving, investing, home buying, and credit cards, cutting through misinformation to bring you clear, actionable advice backed by thorough research. By the end of every episode, you’ll have the latest financial insights and the tools you’ll need to manage your money wisely, build wealth, and plan for life’s milestones. And if you have questions for the Nerds, you can leave them a voicemail at 901-730-6373. Join hosts Sean Pyles, CFP®, Elizabeth Ayoola, and other expert Nerds as they answer your biggest money questions and share strategies to help you build wealth and reach your financial goals, including: – Investing: Advanced investment strategies, integrating ETFs and mutual funds into a diversified portfolio, tax-efficient retirement planning, understanding Roth IRA conversions, and navigating robo-advisors. – Credit Cards: Top credit cards for travel rewards and luxury perks, balance transfer strategies, maximizing credit card points, and optimizing credit card usage to boost your credit score. – Personal Finance: Advanced budgeting tips, building generational wealth, creating effective savings plans, managing high-income expenses, and developing a strong money growth mindset. – Home: Smart strategies for homebuying in competitive markets, leveraging home equity loans and HELOCs, refinancing for long-term savings, first-time homebuying tips, and budgeting for major home improvements. If you’re searching for the best personal finance podcasts or want practical knowledge to make smarter money decisions, then follow NerdWallet’s Smart Money Podcast. You’ll love NerdWallet’s Smart Money Podcast if you like podcasts like: Planet Money, The Personal Finance Podcast, DIY Money, Afford Anything, How to Money, The Ramsey Show, Money Rehab with Nicole Lapin, NPR’s Life Kit: Money, Popcorn Finance, Money Girl,Money Guy Show, Everyone’s Talkin’ Money, So Money with Farnoosh Tarabi, The Money with Katie Show, All the Hacks with Chris Hutchins, The Stacking Benjamins Show, MoneyWatch with Jill Schlesinger, or Your Money, Your Wealth. NerdWallet Compare, Inc. NMLS ID# 1617539 NMLS Consumer Access: http://www.nmlsconsumeraccess.org/