Another week has gone by. So that means it’s time to provide an update on my driving for dividends project. Each week I drive for Uber and Lyft and take the earnings I make to purchase dividend stocks. It’s my side hustle designed to help rebuild my dividend portfolio. I do have a full time job separate and apart from doing rideshare. It can sometimes be hard. So, for example, I wanted to drive tonight. I waited over 20 minutes without a ride request from either Uber or Lyft. In fairness, I don’t live in a busy market. There are also more busy hours than others. But sometimes it feels like a hit or miss. In any case, I hope to persevere despite these obstacles (or excuses). But, enough stalling. Let’s see how much rideshare income I earned during the first week in February.
Driving For Dividends – Income
During the first week of February, I earned $177.34 in rideshare income broken down as follows:
| FEBRUARY | UBER | LYFT | Weekly Total | TAXES | AMOUNT INVESTED |
| Week 1 | $0.00 | $177.34 | $177.34 | $53.20 | $124.14 |
| Week 2 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Week 3 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Week 4 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Week 5 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| GRAND TOTAL | $0.00 | $177.34 | $177.34 | $53.20 | $124.14 |
I earned a total of $177.34 in rideshare income. However, only $124.14 of that was investable income. The remaining $53.20 was saved for taxes. I almost was going to report about $20 or so in income. However, towards the end of the week, I got one ride request that was over 80 miles away. That was good as it put over $100 in my pocket. I’ll take it.
Annual Rideshare Income
Here is a graphical representation of my rideshare income earned in February in relation to the rideshare income earned in previous months.
Although February is less than January right now, it’s only the first week. There are still three more weeks of income to report. It’s going to be difficult, but my goal is to make at least $100 every week. If so, then I will surpass the amount earned in January. But, let’s not put the cart before the horse. I’m going to take this one week at a time. As I am writing this post, I earned $0 rideshare income for the day. But, there’s always tomorrow.
Conclusion
As the saying goes, the struggle is real. I have a lot of good reasons to try to do rideshare on a weekly basis. I also foresee a period of about 2 months where I really won’t be able to drive for a while. However, for the next year-and-a-half, I foresee that I will be doing rideshare on and off.
What did you think of this post? Do you do any side hustle? If so what? Let me know your thoughts by commenting below.