If you buy something from a store and it doesn’t fit or suit you, then you can often take it back, but if you quit your regular job to try something different and it doesn’t work out, that can be a much bigger problem to deal with.
If you decide to buy a car like the Chrysler 200, you are pretty unlikely to change your mind about the purchase, but what you might look at, is the chance to earn a bit of extra money by getting involved in ridesharing.
However, if you are considering the idea of ridesharing as a regular job, it is usually better to ease your way in to see if you like the work before you go ahead and quit your regular day job.
A good source of income
If you are looking for a reliable and regular source of income, ridesharing can often manage to tick all the boxes in that respect.
Money may well be your major motivation, but there are other things to consider when it comes to considering an opportunity like ridesharing, it always pays to check out all aspects of the work and see whether the opportunity appeals to you.
One of the big names in ridesharing is Uber and they do make some claims about the sort of money that you should be able to earn as a driver for them. If you are working in the Big Apple for example, they estimate that it is feasible for a full-time Uber driver to earn in the ballpark of $90,000 a year.
As with many claims like this that are designed to attract new recruits, you will certainly be able to find drivers earning this sort of money, but you will also find plenty of drivers who are likely to be earning a lot less than this.
It makes sense to do the math and have a go at part-time driving for a ridesharing company so that you can get a clearer idea of the earning potential and then scale the numbers up if you were working full-time.
This is probably a more accurate way of seeing whether ridesharing will provide you with the income you need and want, rather than relying on being told what you could earn.
You might earn more money working less hours
Strange as it might seem, there is a fair argument to suggest that you could actually earn more money from ridesharing if you only worked part-time at the job.
The logic behind this is that if you only worked for about 15 hours a week but only clocked on for riding work at peak evening and weekend times, it could boost your average hourly rate, which might be diluted by working longer hours where there are periods when you are waiting for a job to come through.
Declaring your ridesharing income
Don’t forget that you will need to file and pay your taxes on your rideshare income, even if you are doing it as a part-time job alongside your regular work.
There might be some deductibles associated with ridesharing that make the work more attractive for you, but remember that if you are working for a ridesharing company, you are basically classed as an independent contractor.
Ridesharing can be a great way to earn some money and it might even work out as a full-time occupation. Take the time to test the waters and gain some experience before you quit your day job.
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