Friday, September 1, 2017

Side Hustle n Cash Flow

On the local news about a month ago was a story on "side hustles" or "gigs" like Airbnb, Uber, and Lyft.  The results were that on average these side hustles don't really generate a lot of cash.

Airbnb led the way with $400 a month and then Lyft and Uber with about $150 a month, and then one for delivering food that was only about $100 a month.

So in most of these cases you'd be better off getting a part-time job for like 20 hours a week.  Even at minimum wage you'd be taking home more per month than any of these "side hustles."

Right now my side hustle--selling books--generates more than these other ones, but when at some point it no longer does, that's really the point to think about finding a real second job.  For most authors, writing is a nice hobby, but it doesn't produce even as much as any of these "gigs."  It's certainly not something you should do if you want to make a lot of money.

This is also a good reminder that the "new economy" isn't really working out all that well for most people.  Especially when you consider the cost of potential renovations for the Airbnb--and fixing any damage that occurs to it--and for Uber and Lyft if your car doesn't meet their standards you have to buy a new one that does, though it's unlikely you'll be making enough off of the fares to make it worthwhile.

But it does beat selling Herbalife.

No post on Labor Day, so see you Wednesday...or probably not...

5 comments:

  1. I can see how Airbnb would be the best out of those choices, but then you need something to rent. So how has Instafreebie worked out for you? Have you found it worth it?

    ReplyDelete
    Replies
    1. The post next Wednesday is about freebies. Spoiler alert, still not sold on their usefulness.

      Delete
  2. I looked into uber but for the most part around here they wanted you to ferry drunks home from the bar and I don't need puke smell forever in my car

    ReplyDelete
  3. We've used Uber twice to get to the airport and both times were wonderful experiences.

    ReplyDelete
  4. Hey human, Pat,

    Uber offered me a job as a taxi driver in London. I, however, would rather work for London cabs because I like the cars they drive.

    Pawsitive wishes,

    Penny 🐶

    ReplyDelete

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