Have you heard of Uber before? If you haven’t, you either have been living under a rock or in Spain (I just visited two major cities in Spain a month ago, and to my surprise, nobody there had heard of Uber yet. Which is kind of weird.)
If you follow Stock Street, you know I encourage my readers to live the 60/40 life (make a MINIMUM of $60 extra income per week for 40 weeks out of the year). If you missed our post about the 60/40 life: click here. If you have realized the benefits of living the 60/40 life already and would like to make an easy $60 weekly with little extra time out of your schedule, Uber is going to be a great option for you.
Below is an explanation of how you can FINALLY drive for Uber as a time efficient side gig (I’m coining the acronym TESG; you heard it here first!).
Uber’s Largest Problem – Solved
I did some driving for Uber during 2015 and 2016. My main problem with Uber was how difficult it was to have any control of where you would drive. You may pick someone up and drive them five minutes away, then pick another person up and drive them 70 minutes away. For those of us doing it for a side gig, it is nearly impossible to say exactly how long per day you want to work due to the unknown of driving long distances away from your home.
I once did my last trip of the week after working all day and it ended up being 90 minutes away. I had to return during rush hour which added another 120 minutes of driving. I was hoping to work a maximum of an hour longer that day and instead I ended up driving over three more hours; I was not happy.
Set your destination – the beautiful button of glory
Towards mid-2016 Uber came out with a button allowing a driver to pick their desired destination up to two times per day. Uber would then link drivers with passengers who were travelling in the same direction, usually within ten minutes of the driver’s destination.
This button makes it REALLY convenient to control the amount of time and distance you want to drive during a day. It is everything I had been wanting in order to insert some control with Uber.
This is a little video I made with the button:
If you are interested to sign up with Uber click here: Drive with Uber!
Make money on your way to and from work
If you happen to commute to your job, this is now an extremely easy and efficient way to make some extra income to and from work. As you are driving to work, you can add your work address and start driving towards your place of employment. Along the way, Uber will route you passengers travelling near your destination. You can do this in the morning if you are flexible, or you can do this after work.
Since you are only allowed to do this two times per day, you may decide to try and get your two rides out of the way in the morning on the way to work, or you may decide to save your two rides for after work, or do one on the way to work and one on the way home. Either way, you have control over your day as opposed to the lack of control experienced before this beautiful button was created.
What if I don’t commute far?
The beauty of this button is that if you don’t commute far, and you only want to do two rides during the day, you can just type a destination within your desired distance. If you happen to have a passenger added, you can drop that passenger off and then try to catch another ride back home since you are allowed two destination trips per day.
Everyone thinks you have to make this commitment to driving with Uber for hours each week. It is not true. There is no time commitment with Uber; it is incredibly flexible. You just have to drive at least once per month or they will freeze your account. So if you want to just do two trips in a day using the set your destination button, that’s all you need to do.
I had some days where I didn’t have a lot of time to drive, so I set my destination as the airport near me. The airport is around 30 minutes away from where I lived, and I would be routed trips towards the airport. I wouldn’t always receive a trip directly to the airport, sometimes it was near the airport, sometimes it was in-between the airport and where I was located. After I made the trip, I could then type in my home and I would then be routed trips to my home.
From where I was living, and where the airport was located, I could have picked up $15 or more for an airport ride, and another $15 back home. That’s without tip. So this is a great way to make some extra money in a way you can control how far you are willing to drive.
There are some valid arguments out there about the benefits of driving for Uber given its depreciation to your vehicle. This button actually DECREASES Uber driving depreciation to your vehicle if you use it on your commute to and from work.
For example, if you drive ten miles to and from work each day, you are already depreciating your vehicle 20 miles daily. If you decide to drive with Uber to work or home from work, and add an extra five miles per day going out of your way to pick up and drop off passengers, you are barely adding to the depreciation of your vehicle. Whereas if you just go out and drive for Uber outside of your daily commute to and from work, you do depreciate your vehicle more.
Increased efficiency? Check
A tax deduction and a drive to work
You can deduct miles driven in your car when you drive for Uber. You can essentially be given a tax deduction to drive to work if you have a passenger in your car, or if you are driving to pick up a passenger.
For example, assuming you drive 15 miles home from work. If you enter your home as your destination in the “beautiful button of glory”, you can wait to see if Uber sends you passengers on your way home. If you get a ride request and travel two miles to pick up a passenger, then drive that passenger twelve miles in the direction of your home, drop off that passenger, then drive one mile home, you have 14 miles you can deduct on your taxes.
If you didn’t drive for Uber on your way home, you would make no extra money, and be allowed no tax deduction by the IRS for commuting to and from work. So this is very tax efficient.
Every day you drive to and from work and it costs you money; you make no income from driving to your job. Instead of driving to work being an expense, you can use Uber to create a revenue stream. So what are you waiting for? Click here and go signup with Uber!
Does anyone have experience driving for Uber? Does anyone use Uber as a way to generate income as they commute to work?
Advertiser Disclosure: This post includes affiliate links; just thought you should know!