What a crazy busy week it’s been! Truth be told, I’m fast approaching the busy season. In fact, I predict that over the next 2.5 months, I’m going to be working very long hours at work. The opportunities to do rideshare are going to be few and far between. This even applies to the weekends as well. The good news is that my schedule is somewhat predictable and so around May, I’ll have a lot more free time. But, enough with the excuses. Let’s dive in to see how much rideshare income I earned during the second week of February driving for Uber and Lyft.
Driving For Dividends – Income
During the second week of February, I earned $8.90 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 | $8.90 | $0.00 | $8.90 | $2.67 | $6.23 |
| 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 | $8.90 | $177.34 | $186.24 | $55.87 | $130.37 |
I earned a total of $8.90 in rideshare income. However, only $6.23 of that was investable income. The remaining $2.67 was saved for taxes. This is somewhat disappointing, but totally understandable from my perspective. The downside is that I expect this low income trend to continue over the next 2 months.
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.
At the rate I am going, it’s unclear if I will beat January’s figures. Even though there are still two more weeks of income to report, I don’t really have the opportunity to drive most of that time. So, it’s going to be touch and go for a bit while I get through the busy period. But every dollar counts and every bit of investable income is transferred to my brokerage to purchase dividend growth stocks.
Conclusion
I fully intend on continuing with the driving for dividends project for the rest of the year! However, the next couple of months are going to be rough. It also doesn’t help that I live in a slow area, and have a lot of other competing interests. The good news is that the income I earn from doing rideshare, whether large or small, is income that is used to rebuild my dividend portfolio.
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