This is that period of reflection when we look at our earnings and expenses over the past year and then file our tax returns to comply with Internal Revenue Service Rules & Regulations. Filing a tax return also provides us with a glimpse of our own reality. Did we earn more than we spent and how much of what was spent is enabled by credit cards? 

The difference between earning more than you spend is what we manage to ensure wealth accumulation.

The statement appears to be simple in nature, but the dilemma is quite serious. Based on research that can be conducted by anyone, it becomes obvious that most workers in mature societies throughout the world, especially in the United States of America, spend more than they earn. This becomes what we will refer to as the “trap.” Seventy percent of Americans in the age category of 35 – 44 have saved less than $1,000.00.

A mouse would be wise to avoid attempting to eat cheese from a trap. Fortunately, for the overall population of mice, there are few traps. Seventy percent of Americans experiencing their golden age of youth and maturity evidently struggle with execution and adherence to the principle: earn more than you spend. The consequences are severe. According to 2020 stats found at Statista, approximately 90% of men and women in the U.S. have a high school or greater education. Could it be that this most important principle is not being taught in formal educational curricula?

Based upon our team’s research, we find the opportunity to earn extra money to be a primary motivator. The experience of spending more than earnings is real, and with the growth of the gig economy, the possibility to add incremental income to a budget that is not working can be life-changing. Understanding this basic motivation should be understood by the marketers within all gig-providing companies. The audience of gig workers is motivated by basic and realistic objectives to balance the relationship between the amount earned vs. the amount spent, which is prevalent in a great majority of the population.

Our research revealed that most gig workers are looking to earn a few hundred dollars per month, not a few thousand. (Ten percent of gig workers will pursue and earn serious income from their gig or multiple gigs.) Gig-providing companies that market their income-earning opportunities to the needs and objectives of the majority of the people will continue to fuel a revolution and redefinition of the way we work.

Flexibility in how we can work now provides more opportunities than ever before to convert underutilized time into a valuable and possibly life-changing return on the investment.