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Well, why would I work for $7 an hour? I could also ask, why should I make the owners of Uber so wealthy for so little in return?
If after you read this post you want to be an Uber driver go to my Facebook Page or Click Here to go directly to Uber and sign Up.
When you join I will send you an invitation to drive for Uber.
After you get approved and start driving plus a couple other qualification that you should easily be able to make you get $100 and I get $100. If you join without the invitation they won't give you the extra $100 so you not only don't get the $100 but they save $200 and don't pass any of that on to you.
For those of you that don't know what Uber is. It is a car service that is way cheaper than cabs. Uber operates in most large U.S. Metro areas. For a clean car with a nice driver the cost per mile is on average almost 30-50% less than a cab.
Most of the drivers are not what you would consider a professional driver. Most do not do it full time or as their main source of income. Many are Teachers, Housewives and College Students. Professional Drivers and Cab Companies should be very worried. More on that in another post.
The bar to entry for an Uber Partner as they call them is pretty low. You need a 2005 or newer car that seats 5, meaning the driver, front seat passenger and 3 seat belts in the back. There are some
Now am I really only making $6 an hour. Well yes and no. Unlike most Uber drivers I am including maintenance and depreciation.
Many of the driver I've talked to, since they are only working part time only look at how much they earn an hour. Uber guarantees that you will make $16-$26 an hour. Many driver are making far more than that once they learn how to maximize their time and paid miles.
But, and it's a big but. So far doing this for 3 days my average earnings are $7.62 per hour. Why?
Well, Uber gets 20% of your take. You pay for your own gas and maintenance. But what most people don't account for is that every mile you put on you car reduces the value of your car. I figure that cost is 25cents per mile. And that is every mile I drive whether I'm making money or not.
You drive to the store for milk. You can add 25 cents for every mile you drive there and back. Going out for dinner. The drive can cost as much as the tip depending on where you eat. While Uber is paying me 90 cents or more per mile I am not getting paid for every mile I drive. So far I have only been paid for 44% of the miles I have driven. I'm sure given more experience I can raise that to at least 50% or more.
But just like when you drive to work, odds are really good your not getting paid for the drive time or the miles. The IRS won't even let you deduct that as an expense against your income.
Which by the way is a great segway into why I am driving for $7 per hour.
My car is now a business expense. I have turned it from a liability or cost into an asset or a way to generate income. Much of the cost of my car is now deductible. I'm not giving tax advice here. For that you need to see a tax professional.
So now that $25k car that I drive to my (day) job produces the money to pay for itself. Yes I have to drive it but instead of costing about $500 a month it now makes that $500 and is now tax deductible.
My cell phone. Same thing. Now it's a deductible business expense. Many of those things you use every day now become deductible business expenses. That's why even you should consider working for $7 an hour.
Now you might earn $50 an hour and think your time is worth more than that. Well if you can work as many hours as you want for that then maybe you are right. Maybe not though.
As an example I get paid $227 per hour. That's right. It's not a typo and I didn't add an extra number on there. Just so you know I didn't enter that wrong once again it's $227 per hour.
There is only one problem with that number. I am limited in the number of hours I can earn that much money per hour. I do a job that limits me to the number of hours I can work each month. And since I work for a company very little of my income is tax deductible. Probably just like like you. Now days most employers limit your hours to part time. That way they don't have to pay benefits or provide insurance. Yet they demand you be available when they want you. They might even tell you that we might need you Thursday but we are not sure yet. So how do you work another job that has the same demands.
Well, this is where Uber is great. Last Saturday I had the day off from my (day) job and my wife and son were out of town. I could have stayed home, watched some TV, surfed the internet and done nothing but waste time. Instead I opened the Uber App on my iPhone and started taking people for rides.
For the first 20 minutes I never even left my house. For the next 8 hours a took assorted people from place to place. You can turn the App on or off anytime at will. You are your own boss, you decide when you want to work or if you want to work.
I you are a teacher then just drive weekends or during the summer. If like me you are on call 4 days a week, either work on your days of or while you are on call. Just the other day I had to take my sister to the airport at 10AM. When I dropped her off I opened my Uber App and told them I was ready to work. For the next 5 hours I picked up $65 and quite when I had to pick up my son from school.
I also got a call from work that they needed me to come to work that night at 7PM. So now while I write this I am sitting in a hotel room getting paid close to 3k for 3 days of work. I could just be watching TV and surfing the internet but instead I am writing this. If just one person reads this and decides to be an Uber driver and allows me to invite them I will get $100. Or, maybe I just wrote it for myself.
But there is one thing I know for sure. If you want to get ahead in this world you have to keep moving. And the best way to keep moving is to do it with other people. My day job keeps people moving, my side job keeps people moving and if you join me we can move forward together.
Don't just lean forward as they say on MSNBC or yearn for the past as they do on FOX News.
Keep moving ahead.
No that you have read this post it's read this post it's time to sign up as an Uber Partner. Go to my Facebook Page or Click Here to go directly to Uber and sign Up.
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