If you're building your work life on your own terms, you're part of the growing gig economy and redefining the role that work and money play in our lives.
36% of employed people identify as independent workers¹ - that's the equivalent of 58 million Americans. This includes workers who are self-employed, contract-based, or who have side hustles.
Not surprisingly, as more people move away from traditional 9-to-5 jobs, the demand for financial flexibility has exploded. We surveyed 500 Gen Zers (ages 16-27) and 500 Millennials (ages 28-43) to explore how they feel about their financial needs and, if the results of our survey are any indication, the desire for flexibility isn't just a trend, it's here to stay.1
Find out how the work and money management styles of Gen Z and Millennials are evolving, what employees are asking for now, and how Chime is leading the charge in helping people take control of their money.
How the gig economy is changing the financial landscape
The gig economy, once seen as a temporary source of income, has become a major part of today's workforce. Many people are embracing part-time and freelance work not to make ends meet but as a means to become their own boss, learn a new skill, or make disposable income.2
The flexibility offered by part-time jobs has become increasingly attractive to Gen Z and Millennials, who place a high value on autonomy and work-life balance.
According to our survey, 15% of respondents rely on part-time jobs as their main source of income. Although only 12% of part-time workers earn over $60,000 annually, 30% describe their financial situation as adequate. This data suggests that having the freedom to work how and when you want is often becoming more important than how much you earn.
Gen Z wants more autonomy
Younger generations in particular are prioritizing control over their schedules and work environments, meaning they're valuing personal well-being and autonomy over their specific salary. For many job hunters, flexibility was a top reason they accepted a new job.3
It should come as no surprise, then, that weekly pay cycles are catching up to biweekly pay cycles. While 39% of Gen Z and Millennials still get paid biweekly, 35% of people report being paid weekly.
When it's time to pay bills, waiting for a paycheck that comes every two weeks can put unnecessary strain on workers – making flexible pay more of a have-to-have than a nice-to-have.
Why today's workforce wants flexible pay
Half of Millennials and Gen Z believe they would be in less debt if they had early access to their pay. When you're paid on rigid schedules, especially if you're working part-time or freelance, it can be tough to take control of your money management. Being able to access your pay early can help you budget and spend your money in a way that makes sense for you.
For younger workers especially, financial stability isn't just about how much you're earning — it's about when you can access your money. 49% of today's youngest workers said they believe the future of wages will be a blend of flexible and traditional pay methods, signaling that people are hungry for change. They want more say in when they get paid and more tools to help them manage their money on their own terms.
But the shift toward flexible pay isn't just about convenience — it's about empowerment. Flexibility with your finances gives you:
a sense of control to adapt to life's unpredictable moments without derailing your goals;
freedom to pursue your priorities and seize new opportunities;
confidence and security knowing you can navigate challenges on your own terms.
On the flip side, traditional pay schedules can lead to unnecessary borrowing, credit card debt, and stress. Having access to pay when you want can help you avoid payday loans, late fees, and other issues.
How Chime is leading the charge with flexible financial tools
We bet big on our members, providing the tools and products they need to take control of their finances. We recognize that the way people work and get paid is changing, and we're designing flexible solutions for the modern worker.
Whether you're part of the gig economy, freelancing, or working part-time, Chime's products can help you stay financially in control.
What is Get Paid Early?
Chime doesn't hold on to your paycheck; as soon as we receive it, it's yours. Members who receive direct deposit can Get Paid Early; your paycheck can arrive up to two days early.4 For those relying on part-time or freelance work, where income may be less predictable, having access to funds sooner can make a world of difference.
What is SpotMe?
Consider SpotMe your safety net when things don't go as planned. Whether it's an unexpected trip to the vet, a flat tire, or a temporary cash flow issue, SpotMe lets you overdraft up to $200 fee-free.5 SpotMe is helpful for gig workers and part-time employees who may not always have consistent paychecks but still need to manage daily expenses.
What is MyPay, and how does it unlock financial flexibility?
Chime's MyPay® lets you get up to $500 before payday.6 There are no mandatory fees, no credit checks, and no interest7 to get money when you need it.
Once you enroll in MyPay, just log into the app to see how much is available now and then choose how much you want to access.
Accessing MyPay is totally free, and the money you choose to advance will hit your Chime Checking Account within 24 hours. Need the money sooner? For $2 to $5 per advance, you can get it instantly.
MyPay puts you in the driver's seat. It's built for anyone who chooses flexible work, ensuring they can access their pay when they need it, without the hassle of excessive fees or complicated terms.
What does the future of flexible pay look like?
As "modular work" – everything outside your traditional 9-to-5 – becomes more common, people will only demand greater control over their finances. At Chime, we're proud to offer products like MyPay, SpotMe, and Get Paid Early that empower our members to unlock financial progress™. We're not just supporting the new reality of working and getting paid – we're shaping the future of finance.