Author Archives: Business Development Rep Samantha

How Cash Stuffing Can Change Your Budgeting Journey

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Although the financial goals you are saving for and the amounts you “should” have saved to reach them can look different depending on what life stage you are in, one thing is certain — making a plan to save is one thing, and sticking to it is another. Despite the challenges that come with saving, personal finance experts agree that you should have sufficient emergency savings (often referred to as an emergency fund) to cover three to six months’ worth of living expenses in the case of an unforeseen emergency. However, saving for long-term financial goals or life’s unexpected twists and turns is often put on the backburner in the face of monthly, or unexpected bills and expenses. Oftentimes, many feel discouraged to save by not having a clear idea of where their money is spent. There are various budgeting techniques that can help rein in spending and identify room to save – one of which is called Cash Stuffing.

What is Cash Stuffing?

Cash Stuffing, also known as the envelope system – is a budgeting method in which you convert your spending money into cash and stuff it into envelopes earmarked for different categories where you expect to spend during a specific timeframe. You would typically withdraw this cash when you receive your paycheck in an effort to budget where it will be going until your next paycheck. By setting cash aside in envelopes designated for specific purposes, you are encouraged to commit to spending only what you’ve allocated for a particular category.

How Do I Get Started?

1. Determine Your Typical Monthly Spending Categories

The success of cash stuffing lies in your ability to realistically project what you will be spending on. Determining the categories you typically spend money on can be done through brainstorming or going through your bank statements for the previous few months. There is no limit to the types or number of categories you can choose, but some common categories include:

  • Rent and bills
  • Groceries
  • Gas
  • Dining/takeout
  • Entertainment
  • Clothing

If you would like to take your cash stuffing one step further, you can create a category for saving. Unlike your spending categories, your saving category should remain untouched during the timeframe you choose, and can later be put into your savings or retirement accounts.

2. Set Spending Limits for Each Category

Decide how much you would like to spend on each category for the timeframe you choose. It is important to be realistic — for example, you can’t skimp out on paying your fixed expenses, such as rent and bills. Even if you don’t fill up those envelopes, those bills are still due. However, this step offers an opportunity to identify categories where you could potentially rein in your spending. If you notice you don’t typically use all of your groceries, or you impulsively buy coffee out multiple times a week, try setting your spending limit lower for those categories than it has been in previous months.

3. Decide How You Will “Cash Stuff”

While tried-and-true cash stuffing is done by stashing white envelopes in a box, the method has gotten much more creative in recent years. You can decorate the envelopes or color-code labels, or even purchase “budget binders” that can hold all of your cash envelopes.

Cash Stuffing Can Be Done Digitally: Cash stuffing digitally can eliminate worries about having your funds lost or stolen. In this case, you would create a spreadsheet and save it on your computer or tablet, still track your categories and spending limits, as well as how much you have spent and what’s still remaining. If creating a spreadsheet is not your forte, there are also phone apps and websites that can help create and manage digital envelopes to visualize your spending.

4. Withdraw Your Cash and Stuff Your Envelopes

Once you have determined how much money you would like to allocate to each category, add up your spending limits and withdraw that amount in cash. Then as the name suggests, “stuff” the cash into your envelopes.

5. Spend with Your Envelopes

Here is where self-discipline comes into play. Whether the cash contained in the envelopes is meant to last you for two weeks or a month, cash stuffing is designed to work if you only spend what you have set aside in each envelope. When you go to use your debit or credit card, remember that you are going over the budget you set for yourself.

The first time you attempt this budgeting method, you might notice that you have allocated too much or too little to certain categories. That’s okay — don’t go into cash stuffing with the expectation that your budget will be perfect the first time. You can tweak your categories, spending limits, or both – to fit your typical spending habits.

6. Save Any Excess Cash

If you notice that you have a surplus in one of your categories, try to avoid moving it to another category where you may find yourself wanting to spend more. You also don’t want to save it to spend the following month. Having excess cash affords you the opportunity to make extra payments towards debt, or to build up your savings account.

As far as budgeting methods go, cash stuffing is customizable to your financial needs and goals. Whether you are embarking on the cash stuffing journey to control your spending, pay off debt, or build your savings — First Financial is here to help you along the way. Check out our financial calculators that are available on our website, as well as our budgeting guide and fillable PDF worksheet. Stop in and see us in any of our branches if you still have questions, or call us at 732-312-1500 to set-up a financial review appointment.

Common Tax Errors to Avoid

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Navigating the U.S. tax system can be challenging. How you will file depends on your income and filing status, as well as which tax deductions and credits you can claim. Your taxes are your responsibility, even if someone assists you in filing them.1 As you prepare your taxes, here are some common filing issues that you may be able to manage with a bit of preparation.

Keep in mind that this article is for informational purposes only. It’s not a replacement for real-life advice, so make sure to consult your tax, legal, and accounting professionals before modifying your strategy. Remember, tax rules are constantly changing, and there is no guarantee that the treatment of certain existing rules will remain the same.

Error 1: Overlooked Side Income

Taxpayers must claim any income they’ve received in a tax year. One area that some taxpayers overlook is claiming side money that is in addition to their normal salaries. If you receive income from efforts outside your regular wages or self-employment, then you are obligated to report what you receive.

This money usually isn’t reported on a 1099 or W-2 and can include income from the following sources (and more): 2

  • Hobbies that yield a profit
  • Bartering for services or property
  • Forgone interest from below-market loans
  • Canceled debt, including discounts on mortgage loans
  • Social Security benefits to spouses and dependents (subject to filing status and income)
  • Unemployment compensation

Error 2: Unrealized Tax Breaks

Tax breaks can help you manage the taxes you owe or change your liability, resulting in greater benefits for you. While deductions are one form of a tax break, others include tax credits, exemptions, and certain tools designed to help you manage your tax burden. 3

Error 3: Wrong Filing Status

Your filing status can greatly impact your taxes because it defines your standard deduction and tax brackets. A common reason people choose an incorrect status is that their status has changed during the tax year. Before filing your taxes, be sure that you’ve updated your tax paperwork to reflect any changes to your filing status.

The five tax filing statuses are:

  • Single: Taxpayers who aren’t married, are divorced, or are legally separated (as state law dictates).
  • Married Filing Jointly: Taxpayers who are married and will file a combined joint return. Widow(er)s can typically file a joint return within the first tax year of losing their spouse.
  • Married Filing Separately: Taxpayers who are married and choose to file separate tax returns, which may or may not decrease their tax liabilities.
  • Head of Household: Taxpayers who are typically single and pay at least half of all home expenses for themselves and a qualified person.
  • Qualifying Widow(er) with a Dependent Child: Taxpayers whose spouse has died within the past two years and who have a dependent child, assuming other qualifications are met.4

Error 4: Incorrectly Claimed Dependents

Taxpayers can claim dependents for whom they are financially responsible during a tax year. The IRS defines a dependent as a “qualifying child” or “qualifying relative.” Taxpayers can no longer claim personal exemptions for each dependent, and they can miss out on other tax benefits by incorrectly claiming or forgetting a dependent. Be aware that if you have a blended family in which you share children with another taxpayer, you could end up accidentally claiming children when only one parent would be able to do so.5,6

Error 5: Not Having Proof of Purchases

Your paperwork is crucial for filing taxes correctly and includes everything from your pay slips to receipts. Beyond helping you file taxes, your documents also serve as proof of the claims you make on your return. Should the IRS find any errors or choose to audit you, you’ll need these records to back up the numbers.

A partial list of items to have on hand for verifying your financial records includes receipts, mileage, documents on life events, and medical and expense records for home improvements.7

Error 6: Not Accounting for Income

Your or your family’s income is the key determinant of how much you’ll pay in federal taxes. The IRS will tax you at a rate depending on the total you report.

In Conclusion

Filing your taxes can be a complex responsibility, and accidental errors can be easy to make. By being diligent, carefully strategizing, and keeping tight records, you can improve your ability to file taxes in a timely fashion while attempting to follow all of the federal and state guidelines. Even if you’re choosing to work with a tax professional, you are responsible for making sure you correctly file your financial details.

Remember, if you have any questions about your financial life, we’re here to help you navigate this complicated landscape. We always welcome collaborating with your tax professionals to align the strategies you take across your financial priorities. You can call or email the financial professionals in the First Financial Investment & Retirement Center at 732-312-1534, mary.laferriere@lpl.com or maureen.mcgreevy@lpl.com

Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker/dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. First Financial Federal Credit Union (FFFCU) and First Financial Investment & Retirement Center are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using First Financial Investment & Retirement Center, and may also be employees of FFFCU. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of FFFCU or First Financial Investment & Retirement Center.

Securities and insurance offered through LPL or its affiliates are:

This material is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance does not guarantee future results. Consult your financial professional before making any investment decision. Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. Please consult your financial professional for further information. These are the views of FMG Suite, LLC, and not necessarily those of

the named representative, broker/dealer, or investment advisor and should not be construed as investment advice. Neither the named representative nor the named broker/dealer nor the investment advisor gives tax or legal advice.

Sources: 1-7 IRS.gov, 2024

Love is Blind: Online Dating Scams

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Don’t get your heart broken in an online dating scam or by losing the funds in your bank account this Valentine’s Day. The idioms “love is blind” and “looking through rose-colored glasses” might sound cliché, but call attention to an important phenomenon – feelings of love can cause you to throw caution to the wind and overlook flaws in a romantic interest that you might typically not ignore. It’s harder to ignore red flags that are staring right at you, like when your romantic interest is sitting directly across from you. However, in an age where it’s increasingly common to meet your partner on any number of dating apps or websites, you might have to look for those red flags before the first date even happens. Repeatedly ignoring invitations to video chat or meet in person, or asking for money before you’ve done so, might seem like obvious red flags. Nonetheless, those rose-colored glasses can help you make an excuse for anything. Make sure you aren’t blinded by love and can determine if those “red flags” are actually a romance scam.

What is a Romance Scam?

A romance scam begins like many romantic pursuits ordinarily do in the twenty first century—you match with someone on a dating app or website, or you have a new connection waiting for you on social media. In almost all instances, they reach out to you first and express their interest in getting to know you. It’s not long before you find yourself texting them at all hours of the night or longing to hear their voice over the phone. That’s because, somehow, this person checks off every box on your list. You like a certain musician? They like that musician too. You’ve been dreaming of visiting a remote island? They are too. You start wondering where they have been all your life. Eventually, meeting them in person seems like a natural next step. Then, the excuses start to flow. They say they want to meet you, but “living on an off-shore oil rig” or “working at a military base” is getting in the way. They reassure you that they will meet you one day, but want to keep pursuing a romantic relationship online in the meantime. However, this person has no intention of building a relationship with you and is interested in one thing—your money. If they get it, they will likely disappear with your money and hopes of a relationship without a trace.

What are the Favorite Lies of Romance Scammers?

The lies a romance scammer will tell to get your money are endless. A lie might sound outrageous, but the romance scammer is a trained professional. They typically cultivate a relationship with you over weeks, months, or even years before they ask for any funds. The FTC compiled a list of romance scammers’ favorite lies to watch out for to protect your heart and money. Popular reasons to avoid meeting in real life or needing money can sound like this:

  • “I or someone close to me is sick, hurt, or in jail.”
  • “I’m in the military far away.”
  • “We’ve never met, but let’s talk about marriage.”
  • “I’m on an oil rig or ship.”
  • “I can’t afford to visit you or meet you without it.”

The FTC warns that many romance scammers might even flip it on you, offering to do you a favor. This might sound like an offer to teach you how to invest in cryptocurrency or to send you a valuable package. In both scenarios, the money you give to the romance scammer to “invest for you” or to “ship the valuable package” ends up right in their pockets.

What are Other Red Flags?

While lies are an important piece of the romance scam puzzle, the ways they would like to receive the funds complete it. If your love interest is requesting payment through uncommon methods, it is most likely a scam. The scammer will usually ask you to send cryptocurrency, gift card codes, or wire money. This is because these transactions are hard to track and do not have protections for buyers or senders in place. Another red flag is if your family and friends express concern over your new love interest. Your loved ones want nothing but the best for you, so it should sound the alarm if they express apprehension when you tell them about your online love interest and their request for funds.

How Can You Protect Yourself from Romance Scammers?

  • Never send money to your online love interest. Nobody legitimate will claim that sending cryptocurrency, gift card codes, or wiring money are the only ways you can help them. On the flip side, never trust someone who insists they can teach you how to invest or send you a valuable package to improve your financial situation. They are only looking to improve theirs.
  • Reverse image search pictures. Another cliché that applies to romance scams is, “If there’s a will, there’s a way.” Your online love interest should, at the very least – find a way to video chat if they can’t meet you in person. However, the reason they can’t video chat or meet in person is because romance scammers often use fake identities. You can reverse search profile pictures or other images they send you to see if the details they tell you about themselves are adding up.

Most importantly, the FTC encourages everyone to do their part. You can help stop romance scammers by reporting suspicious profiles or messages to the platform where you saw them. You can also report your experience directly to the FTC at reportfraud.ftc.gov. Lastly, pass information regarding romance scams along to a friend. You may not have fallen victim to a romance scam, but someone you know can.

First Financial wants to help protect your personal and financial information and your heart, during the season of love. If you have any concerns or have reason to suspect that your information has fallen into the hands of a scammer, don’t hesitate to contact us at 732.312.1500 or visit us at your local branch.

Things to Do on a Budget in Monmouth & Ocean Counties this February 2025

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Love is in the air, and you might be looking for some fun ways to enjoy spending time with your loved ones this February. Although the cold might make you think twice about leaving the house, here are some free or inexpensive activities to enjoy in Monmouth and Ocean Counties all month long. 

February 1

Winter Fire & Ice Celebration (Cream Ridge) will take place at the New Egypt Flea Market on February 1st from 10am-7pm and February 2nd from 8am-4pm. You can enjoy ice sculptures and demonstrations, cozy fire pits, food trucks and wine tastings (for attendees 21+), local vendors, and more. Admission is $5 per person, and children ages 10 and under are free. To learn more about this ultimate winter celebration, click here.

February 2

Valentine’s Pop-Up Makers Market (Asbury Park) – Head over to Porta with your family and friends to enjoy a creative shopping experience from 12pm-4pm. Enjoy food and drinks while you visit the stations of various local artisans selling gifts made with love. Admission is free for all ages. You can find more information here.

February 7

Valentine’s Bazaar (Asbury Park) – Stop by Convention Hall from 3pm-8pm Friday, or 12pm-5pm Saturday, to enjoy all things love. If you are just getting started on your Valentine’s Day shopping, local and regional vendors will be selling gifts that your family, friends, or special someone will be sure to cherish. There will also be live music, food and beverages, a Valentine’s Day photo wall, a fresh flower bar, kid and pet activities, and more. Admission is free for all ages. Click here to learn more.

February 8

Galentine’s Brunch Event (Point Pleasant Beach) will be hosted by Blooms on Point Floral Boutique from 12pm to 2pm. Along with gushing over your “galentines,” you will have access to a breakfast buffet and charcuterie board, mimosa bar (BYO bubbly), custom box of assorted chocolates, and a 10-minute chair massage or reiki session. Tickets are $50 per person and must be purchased in advance online. To read more information and learn how to purchase tickets, click here.

Valentine’s Sweet Stroll (Red Bank) is just what the name suggests—an afternoon of walking downtown Red Bank to shop for sweet treats and other vendor items, and enjoy “sweet” experiences, from 11am-2pm. Downtown Red Bank encourages attendees to wear Valentine’s colors. Admission is free, and additional details are to follow. To stay up to date on the latest details, visit this webpage.

February 9

All About Kids Fair (Toms River) – If you’re looking to help the whole family escape the winter blues, join Toms River Macaroni Kids for their 9th annual fair at Ocean County Mall from 11am-2pm. Parents can meet the faces of local family-friendly businesses while the children are off enjoying activities such as face painting, crafts, character appearances, and more. The event is free for all to attend. More information can be found here.

Historic Valentines (Allentown) – Travel back in time at Historic Walnford from 1pm-3pm to discover how penmanship has changed through letters and valentines from the 18th and 19th centuries. In case any of the centuries-old penmanship inspired you, the session will end with creating a valentine or letter of your own using historically-inspired materials. The event is free for all ages, however children under 14 years of age must be accompanied by an adult. Click here for more information.

Winter Fresh Farmers Market (Ocean Grove) will allow you to shop your favorite Asbury Fresh food vendors from the comfort of the warm indoors at the Jersey Shore Arts Center from 10am-1pm. Admission is free for all ages, so don’t be shy—the vendors are looking forward to saying hi and showing you what they have to offer. You can find additional information here.

February 15

Allaire Flea Market (Wall) – The Historic Village at Allaire wants to bring you out of the house with a chance to hunt for bargains from 8am-2pm. This flea market will feature vintage treasures, thrifted items, books, art work, knick knacks, and more. Admission to the flea market is $5 per person ages 12 and up, and includes free admission to the Historic Village at Allaire. Click here to find more information.

February 16

MAC’s Art of Chili Cook Off (Middletown) – Whether you love chili or love some good ol’ friendly competition, check out the Chili Cook Off at Middletown Arts Center from 12pm-2pm. The fifteen amateur and five restaurant contestants will prepare chili and battle it out for first, second, and third place prizes. Admission is $15 and includes a tasting kit to sample all of the chili and vote in the People’s Choice Award. For more information and to purchase tickets, click here.

Singo Game Night (Manahawkin) – Unleash your inner “theater kid” at the Bay Avenue Community Center at 5pm. This game night will put you to the test by challenging you to recall all the showtunes you know. Admission is $10 per person. There will be food and drinks available for purchase. Find additional information here.

February 19

Bingo Dinner Party (Union Beach) – Dinner paired with any activity is sure to be fun, so bring your friends and family down to The Goat by David Burke, to enjoy a night of dinner and bingo. For $45 per person, you will enjoy a 3-course dinner and various rounds of bingo with prizes. Click here to reserve your spot and find out additional information.

February 22

Polar Bear Plunge (Seaside Heights) – If you’re not afraid to jump into the frigid waters of the Atlantic in the spirit of supporting the Special Olympics of New Jersey, register for the Annual Polar Bear Plunge. Registration is $25 with different fundraising tiers; however, your $25 registration fee is counted toward your fundraising goal. If plunging isn’t your speed, you can dress up, join other spectators on the boardwalk, and cheer the plungers on. Casino Pier is also offering a $30 arcade card for half off and drink specials at the Wave Bar (for those 21+) to enjoy the plunge day. Learn how to register and get ready to take the plunge here.

February 28

Family Fun Friday (Point Pleasant Beach) – When the workday is over, let the fun start at Jenkinson’s Aquarium from 5pm to 8pm. Enjoy family fun with a scavenger hunt, crafts, and a bedtime story with one of Jenkinson’s beloved animals. These activities are included in a general admission ticket, so you can visit Jenkinson’s aquatic friends between activities. Admission prices are $18 per adult (ages 12+), $12 for children ages 3-11, and children age 2 and under are free. You can buy aquarium tickets and learn more about the event here.

February is the shortest month of the year, and it is also the home stretch of the frigid winter months. We hope these activities help you find the fun and enjoy the love amidst the cold in February!

Your Utility Company or a Utility Scam?

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There isn’t a single person who wants to receive the dreaded notification that due to missing a payment, their service—whether it be electric, gas, or even cell phone, is about to be shut off. Whether you are the most organized person in the world or have a tendency to miss payments here and there, this notification would likely send you searching through your bank account statements or bills to confirm if it’s really true. However, if you have someone claiming to be employed by your utility company on the other end of the line, you may not think you have the time to sift through your own records and feel compelled to make the situation “right” then and there. With utility scams on the rise, take a moment to consider these scenarios and red flags that can alert you to a scammer pretending to be your utility company.

What a Utility Scam Looks Like

You may or may not be expecting a phone call from your utility company. If you know you missed a payment to one of your utility providers, it is that scammer’s lucky day and they have you right where they want you. On the other hand – if you haven’t recently missed a payment, it might be a little trickier for the scammer to convince you. The person on the other end of the line would typically begin by telling you that you have missed a payment, which will cause your service to be shut off if you do not render payment immediately. The person is impersonating your utility company and would have no way of knowing this, but you likely don’t know that yet. As you begin to ask for more information, they become increasingly unprofessional and agitated. They take this tone with you in an effort to scare you into paying before you can ask questions. The scammer knows that the less time you have to doubt their intentions, the better. It is common for the scammer to impose a “time limit” on receiving payment before your service is shut off, with victims of utility scams frequently reporting that scammers give them 45-minutes to one hour. They are hoping you will be eager to make a payment before your service is turned off. Once the scammer receives payment, they will send you on your way – and it could be hours, days, or weeks before you realize you have been scammed.

Red Flags

  • Uncommon Payment Methods: A common red flag associated with utility scams is the use of payment methods that are hard to track, such as reloadable cards, gift cards, wires, or cryptocurrency. Scammers want to receive money through these payment methods because they have fewer protections for buyers in place, making it hard for you to get your money back and easy for the scammers to avoid detection. It is common for scammers to demand that you go to a specific store and buy a specific gift card, so be sure to listen for this request structure if you have a potential scammer on the line. They might request that you stay on the phone with them the entire time you are making the payment to ensure you don’t call anyone for help. Always follow the status quo and second guess anyone who wants to receive payment in non-conventional ways. If your utility company has only accepted payment through card, check, or online bill pay in the past—why would they change now? Furthermore, question why a large service provider would accept a gift card or cryptocurrency as payment.
  • Sense of Urgency: The scammer will display a sense of urgency since they know that their chances of receiving payment dwindle to 0% if you get off the line. They do not want you to call back, knowing that when you hang up you might confide in someone or contact the utility company they are impersonating. If you are truly behind on paying your utility company, they are more likely to work with you in establishing a payment plan to get you back on track as opposed to threatening to immediately terminate your service.
  • Unusual Method of Communication: In the day and age where every facet of our communication is becoming increasingly digital, receiving a text from your utility provider might not sound the alarm. You might be used to receiving a text reminding you of an upcoming bill, or a text confirming your bill was paid. However, be weary of someone claiming to be a representative that is tasked with collecting payment from you. Initiating payment over text is not safe, and a real utility company would not expect you to authorize a payment over text. When in doubt, call the number that you know belongs to the utility company and ask if they have recently initiated communication with you.

What to Do if You Encounter a Utility Scam

  • If You’ve Sent Payment to a Scammer: Unfortunately, scammers often have you make payments in ways that are nearly impossible to get refunded. Even if the situation feels hopeless, there are resources to help those who have sent payment to a scammer. The FTC’s page If You Paid a Scammer is dedicated to showing you the steps to take to get your money back, depending on the method you used to pay.
  • If You Want to Report Contact with a Fake Utility Company: You should first reach out to your utility company to alert them to the fact that a person or group is impersonating them. Obtain the contact method you use to reach them, such as a customer service phone number or email address, from a trusted source. You should then report it to the FTC at ftc.gov and to your state attorney general. Lastly, spread the word—if it happened to you, it could easily happen to someone you know.

First Financial wants to help you safeguard your personal and financial information. If you have any concerns or have reason to suspect that your sensitive information has been compromised, don’t hesitate to contact us at 732.312.1500 or visit us at your local branch.

The Digital Economy and the Reinvention of Side Hustles

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Side hustles existed long before the COVID-19 pandemic, typically born out of a need to supplement income as opposed to pursue a passion that previously felt out of reach. Before the emergence of rideshare or grocery delivery platforms, one might have supplemented their income by reselling used items at a garage sale or offering their lawnmowing or pool cleaning services to a small circle of friends or neighbors. The pandemic, coinciding with the growth of platform-centered businesses, created the perfect storm needed to not only propel side hustles back into the spotlight – but shine them in a new light. Not only could you pursue something you are genuinely passionate about, you could also make some money doing it. Although the pandemic is thankfully behind us, one thing remains certain — side hustles are here to stay, and they look much different than ever before.

What is a Side Hustle?

A side hustle is generally viewed as a means of generating extra income outside of your primary job. However, a more modern definition suggests that in addition to that – a side hustle provides flexibility and the pursuit of personal passions. For some, flexibility and pursuit of passion might be immeasurable in comparison to supplementary income — causing side hustles to be pursued out of choice rather than necessity.

And Why are They so Popular?

Many factors have come into play to increase the popularity of side hustles among the general population, such as:

  • Digital Economy and Technological Growth: The definition of digital economy is constantly evolving, but generally refers to humans and technology working together to generate business. For example, ridesharing apps like Uber or Lyft have created a market of people willing to provide an on-demand car service to consumers and becoming connected via an app.
  • Generational and Attitude Shifts: Young workers such as those in Gen Z, are one of the few generations that have increasingly experienced an entirely remote or hybrid school and work environment. Additionally, due to recent economic conditions – many young workers have been faced with a difficult introduction to the job market and have been turning to dynamic workplaces to meet their needs. Lastly, younger generations especially tend to put a greater emphasis on well-being and mental health, which might be better afforded by a side hustle if done the right way.
  • Cost of Living: Let’s face it — living is more expensive than ever before. Especially for those living paycheck to paycheck, a side hustle might be an attractive option to bridge the gap between saving for what you need and saving for what you really want.
  • Identity Builder: Side hustles can act like a tattoo of sorts — offering onlookers an insight into one’s interests and passions. It’s a great conversation starter, too.

2025’s Most Popular Side Hustles

The rapidly growing and advancing of technology and digitization has created many opportunities for individuals looking to bring their passions to the right market. Here are some popular side hustles worth considering if you have skills or passions you’re looking to capitalize on in the new year:

  • Freelancing: Freelancing refers to offering your work or services on a per-job or per-task basis, allowing you to potentially work on multiple projects for multiple clients. Whether you have a knack for writing or a passion for computer code, there could be someone out there requiring your services. Some popular platforms to connect freelancers with clients are Freelancer and Upwork.
  • Platform-Based: There has been a rise in platforms that connect consumers with people offering on-demand services, such as Uber or Lyft for ride sharing, DoorDash or GrubHub for food delivery, and Instacart for grocery transport. There’s even a platform called Rover for those animal-lovers who want to pet sit or walk for fun, and earn a little money while doing it. These platforms afford you flexibility when you work by allowing you to create your own schedule. If providing goods to people is more your thing — Etsy and eBay are platforms that allow you to sell various new, used, or handcrafted items to people around the globe.
  • Content Creation: Many individuals have created a side hustle out of posting relatable content on various digital platforms. You have to find your niche — what type of content you would like to provide your potential audience with. Whether you would like to post relatable content about your family or relationship, or tell the world all the fun facts you have up your sleeve, someone might want to watch your content and certain platforms will pay you to post it. Creating content can help you form partnerships with your favorite brands, too — if they want you to represent their product or service.
  • Affiliate Marketing: Affiliate marketing typically refers to content creators and brands working together to promote products or services. These brands gain access to a representative who promotes their product or service to an audience of people willing to listen. An individual can get paid for affiliate marketing in various ways, one of which is when you refer a member of your audience to the brand you are promoting and it leads to a sale. There are many affiliate programs out there — you just have to do your research and make sure it’s right for you!

First Financial is here to help if you are looking to take your passion-project turned side hustle to the next level. Whether you’re looking to start with the basics, or your business has become more established over the years and you’d like to learn more about financing with a Business Loan – we’re here to support your business every step of the way. If you’re ready to take the next step, don’t hesitate to contact business@firstffcu.com, visit us at a local branch, or call 732.312.1500.