This week’s side hustle requires ZERO technical skills or expertise, you don’t have to sell anything, and you don’t have to make a big upfront investment.
In fact, you probably already have the 2 key ingredients: a car and some spare time.
The fine print (as I learned while I was recording this) that your car has to a model year 2006 or newer, and have 4 doors, but other than that, you’re set!
I’m joined this week by TheRideshareGuy, Harry Campbell, an Uber and Lyft driver who earns $20-40 an hour in his spare time driving people around near his home in Southern California.
In fact, I took my first Lyft rides in August and met 3 awesome side hustlers who reported earning up to $250 on a busy night of driving. Not bad!
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In this episode you’ll hear about the distinct advantages and disadvantages of using these services from the driver’s perspective. For me, the biggest downside is probably having limited control over your earnings when the company’s decide to cut rates.
One friend in Denver explained that just this year Uber cut rates by 20%, and then cut them by an additional 20% a few months later.
It’s similar in the affiliate marketing space, when the advertiser decides to cut your commission. There’s not always a lot of recourse, although in that case you can generally try and negotiate to keep your higher rate in exchange for preferred placement or something like that.
- The requirements to drive for Uber and Lyft.
- The benefits you have as a 1099 independent contractor.
- Harry’s ideas on how to maximize your hourly rate and tips.
- How the insurance works.
- The best tax deductions to make the most of your driving time.
- Harry’s #1 tip for Side Hustle Nation.
- YourPFPro.com (Harry’s personal finance site)
- New Lyft Drivers Get Up to $250
- New Uber Drivers Get Up to $150
Want to Ride First?
Get $30 off your first Uber ride with code NICKL678!
Get $25 off your first Lyft ride with code NICK443918!