January is over. I posted my monthly dividend income report for January. Now it’s time to post the dividends I earned driving for both Uber and Lyft during the 4th and final week of last month. It’s been an expensive start to the New Year but I am determined to succeed. There is an old saying that “when it rains it pours.” Well, it’s pouring right now! But that’s ok. As another saying goes, “it can’t rain forever.” Yet another goes: “after every storm there is a calm.” I can’t wait. But, enough stalling. Let’s see how much income I earned during week 4.
Driving For Dividends – Income
During the fourth week of January, I earned $55.66 in rideshare income broken down as follows:
| JANUARY | UBER | LYFT | Weekly Total | TAXES | AMOUNT INVESTED |
| Week 1 | $34.73 | $82.11 | $116.84 | $35.05 | $81.79 |
| Week 2 | $16.75 | $139.69 | $156.44 | $46.93 | $109.51 |
| Week 3 | $0.00 | $143.20 | $143.20 | $42.96 | $100.24 |
| Week 4 | $4.15 | $51.51 | $55.66 | $16.70 | $38.96 |
| Week 5 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| GRAND TOTAL | $55.63 | $416.51 | $472.14 | $141.64 | $330.50 |
I earned a total of $55.66 in rideshare income. However, only $38.96 of that was investable income. The remaining $16.70 was saved for taxes. It could have been better, but it also could have been worse. For the month, I was able to contribute $330.50 towards my dividend portfolio. I’ll take it.
Annual Rideshare Income
Here is a graphical representation of my rideshare income earned in January in relation to the rideshare income earned in previous months.
For all practical purposes I doubled my income in January compared to December. Technically, I am $3.24 shy of a true doubling of the amount but I’m very happy. Of course, such lofty monthly increases is not sustainable. Moreover, as I get more busy at work over the course of the next three months, I anticipate my rideshare income will dip substantially. After that, it will pick up again. That’s one of the good things about my work. My schedule is foreseeable.
Conclusion
I really like the flexibility of rideshare. I place a lot of limitations on when I drive. For safety reasons, I won’t drive when I’m tired, or when it’s raining or if it’s foggy. The money is good but one accident is enough to cause financial ruin. Hopefully over time, the income I generate from doing rideshare will help rebuild my portfolio at a faster rate. If it wasn’t for rideshare, my contributions to my brokerage account in January would have been $330.50 less. The project builds wealth slowly, but it sure is worth it.
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