The most common way of earning extra income is through investments, as indicated by 12% of respondents. This is followed by providing services (10%), consulting (10%) and household work (7%). Less common are renting out property (5%), selling home-made food products (5%) and offering handicrafts and artwork (4%).
The majority (70%) of those who earn additional income earn up to €200 per month. One in four (25%) said they earn between €201 and €800 per month, while 6% manage to earn even more – over €800 per month.
It is noteworthy that for the majority (58%), earning extra income is a choice, not a necessity. They earn enough to live on from their main job, but want to work extra to achieve higher goals and improve their quality of life. For 42%, however, additional income is vital to meet their basic needs.
The population survey was conducted by Snapshots on behalf of the Swedbank Finance Institute in March 2025, surveying 1,006 Latvian residents aged 18 to 74.
The main obstacles preventing people from taking advantage of opportunities to earn extra income are lack of time (40%), fear of failure (24%) and lack of skills (19%). These reasons are mostly individual and not related to systemic problems, according to the survey.
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