Definition

A labor market characterized by short-term, freelance, or contract work, often facilitated by digital platforms.

What to consider

  • Consider the benefits of flexible work but plan for income variability.
  • Keep detailed records of earnings for budgeting and taxes.
  • Assess how gig work fits into your overall financial picture.

Real world scenarios

  • Working in the gig economy, Sam juggled several freelance projects to earn enough income while enjoying the flexibility of his work schedule.

Related terms

Entrepreneurial Finances