We talk a lot about securing a stable financial future for yourself by creating a budget, paying down debt, and beefing up your savings, but what don’t often mention is that making more money is one of, if not the best, way to achieve your financial goals. Looking to seriously increase the balance of your savings account? Earning more money means you won’t need to give up too many of the things you love to achieve this goal. Want to be debt free by the end of the year? Increase your take home income and watch those balances drop.
So, how do you make more money? Aside from getting a better paying down or asking for a raise, to things that aren’t always an option for many people, you can get a side hustle. What’s a side hustle you ask? Well, to be honest, it’s just a cooler way of saying you have a second job. But, second jobs often get a bad rap, they are seen as something you need to take on simply to stay on top of the ever-accumulating expenses associated with being an adult. A side hustle, on the other hand, brings to mind something that you want to do for a variety of reasons, including, but not exclusively for making more money. Anyway, whether you want to call it a second job or a side hustle, it’s a great way to earn the extra cash you need to achieve your financial goals.
There are a variety of things you can do for a side hustle (we wrote about a whole bunch here), but let’s discuss one of the popular ways to earn more money in past two years, Uber. The ridesharing app that lets (almost) anyone turn their cars and free time into a money-making side business. Becoming an Uber driver is pretty straight forward and you can set your own hours, what more can you ask for when it comes to choosing a second way to make more money?
Becoming an Uber driver is relativity easy, but there are a few things that you need to do before you can start working. On Uber’s website, they describe the process in three simple steps.
The first step all hopeful Uber drivers need to take is to sign up online and create an Uber account. You’ll be asked to provide personal information about yourself as well as information about the vehicle you plan on driving.
Next, you’ll need to head to your local Uber Center for a background check and in-person training. When you visit the Uber Center you need to bring 2 pieces of official photo identifications so that they can perform a criminal screening.Get the App and Go
Once you’ve completed the registration process you can download the app and start driving.
Think of the process as a job interview. You won’t be given any other type of job without first meeting with your prospective employer, discussing the details and requirements of the job, and, depending on the job, completing a test or assessment of the skills required to perform the job.
Once you’ve got your account set up, met all the requirements, and learned how to use the app as a driver, it’s time to start making money.
If you want to make money using Uber, you need to turn on your app and make yourself available as a driver. While Uber is definitely a great side job, you can’t expect to make the same amount as someone who drives more hours than you. I big part of making money with Uber is finding the motivation to get out there and drive. Once you tackle the motivation part, you should have no trouble increasing your income as a couple hundred dollars a month if not a week.
As with any money-making venture, you’ll likely not make as much money as you hoped the first couple of weeks of being an Uber driver. And while we understand how disheartening this can be, with time you will figure out what equation works best for you.
To boost your income and figure what times of the day and week are worth your effort, you should conduct your own version of market research. For the first couple of weeks, vary your driving times as much as your schedule permits, the app will store all your trip data and you’ll be able to figure out what times on which days will make you the most money.
Need to purchase a car so you can become an Uber driver? Click here.
If you’re looking to make some extra money on the side and working a minimum wage job on the weekends is just not for you, then becoming an Uber driver might be. You get to set your own hours, be your own boss, and take time off whenever you want. Does this seem like something you’d be interested in? Click the link below and get started today!
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Caitlin Wood is the Editor-in-Chief at Loans Canada and specializes in personal finance. She is a graduate of Dawson College and Concordia University and has been working in the personal finance industry for over eight years. Caitlin has covered various subjects such as debt, credit, and loans. Her work has been published on Zoocasa, GoDaddy, and deBanked. She believes that education and knowledge are the two most important factors in the creation of healthy financial habits. She also believes that openly discussing money and credit, and the responsibilities that come with them can lead to better decisions and a greater sense of financial security.
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