Side Gigs vs. Passive Income — Which One Is Better for Building Wealth?

Roughly four in 10 Americans (41%) have a side hustle and earn an average of $2,241 monthly, according to a recent PYMNTS report. That’s a significant amount of people — and money — but is it the way to build true wealth? Or is passive income the way to go? Here’s a breakdown of which money-making method is better for building wealth and why. Side Gigs: Better for Quicker Debt Repayment and Savings The average American spends between $920 and $1,558 a month on debt, as per an Experian report. This incl ...