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I'd like to preface this by saying that I definitely know driving for a rideshare service won't bring in the amount of money I'm currently making through my main income source, however, I'd like to know if you guys think it would improve my quality of life.
The problem I'm running into is this contract position brings in about $55K per year for me. However, the work involved with this contract is making me so stressed out I am losing sleep over it and my health has tanked since I've started it.
Good news is that it is not my only source of income. I bring in about $3K a month through other contracts and some small net profit off of some real estate that I own. I don't really count the real estate income since it's so small.
I don't live extravagantly at all. My car is fully paid off. Insurance on the car is paid every 6 months at just under $500. Health insurance costs me $120 per month. Cell phone is $90 per month. I have 2 roommates and my share of living expenses is around $450 per month. Lower during the mild weather months. At the end of each month, I normally am able to save close to $2K a month, which I put aside for future real estate purchases.
My question to you guys is if I drop that $50K contract, do you think driving for Uber/Lyft would be a good option? I'd rather not die an early death due to the stress of this contract. Not that driving for rideshare services isn't stressful in some way, but I highly doubt I'll be losing sleep over it.
No, it's why Uber and them are shady companies to work for
They insure themselves for liability, you as the contractor need your own coverage even if they say "while you are driving" you are covered... not so much. You are covered if you get hit, because the other driver's insurance is responsible.
I think you'd be better off getting another job in a less stressful field than driving for uber/lyft. There are many threads on this forum about the real cost of working for Uber/Lyft. If you wanted to do a few rides here and there to make an extra $100-$200 a week I'd say go for it because the additional gas, maintenance, and wear and tear could be somewhat negligible in that instance. However, as a full time job you are taking a presumably newer car and trashing it in 3 years time.
I've read that your avg full time driver will drive 1,000 miles a week. That's a lot of gas, oil changes each year, a couple tune ups, brakes once a year, tires every 18 months, depreciation like crazy. No thanks.
I think you'd be better off getting another job in a less stressful field than driving for uber/lyft. There are many threads on this forum about the real cost of working for Uber/Lyft. If you wanted to do a few rides here and there to make an extra $100-$200 a week I'd say go for it because the additional gas, maintenance, and wear and tear could be somewhat negligible in that instance. However, as a full time job you are taking a presumably newer car and trashing it in 3 years time.
I've read that your avg full time driver will drive 1,000 miles a week. That's a lot of gas, oil changes each year, a couple tune ups, brakes once a year, tires every 18 months, depreciation like crazy. No thanks.
You're right. The more I think about it, the vehicle expenses would kill me.
I guess I'm just struggling with what other less stressful job I could get. My skill set is pretty specific.
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