My first couple of weeks were rather experimental and slow, but for the last 5 weeks I’ve gotten into a sort of routine. Weeknights – drive 2-4 hours after work, stop after earning $50. Weekends – drive both days, stop after earning a $100.
In 7 weeks, I’ve earned Uber $3900, and I’ve netted a total just over $2500, and in my routine I’m earning about $450 a week. I’ve completed 399 rides. That’s about 35% to Uber, much more than they promote. This is because they take a dollar right off the top of every ride, and 20% of the rest. Most of my rides are in the campus town area, taking students between dorms, bars, sports arenas, etc. Almost all of these are very short, and Uber charges 5 bucks and I get 3.
So far I’ve spent about $140 on gas, and $50 on car washes. Next month my insurance premium goes up $11/per month to cover a gap in my insurance. I expect to add a monthly cost of $35 for a local car wash’s “unlimited washings per month.”
I got this car brand new just before Christmas, and I’m now close to 6,000 miles. I’m beginning to think maybe I should have bought an extended warranty, since at this pace the original one will hit its limit in the next 15 months or so. But that can wait (maybe forever, we’ll see).
I like the job quite a lot. I’ve had lots of interesting conversations, and I haven’t run into a single person I thought of as real sketchy or scary. I’ve been to lots of nooks and crannies of the city I never knew existed, and I already know it much better than I did before, considering I’ve been here more than 20 years.
I’m starting to think about future expenses now that I’ve determined that doing the driving at least more than covers expenses. A new set of tires every two years? Or a new car every two years? Tough choice! Had I thought of driving for bucks at the same time I thought of buying the car, and had I known the earning potential, I would have either bought my car with all the options, or maybe bought the somewhat larger Mazda6. But in the meantime, I have some other debts to pay off and I think I can be completely debt free (except for my mortgage) within 2 years.
And writing this little monologue is helping me make some choices. No new car in 2 years. If I wait another 2, I’ll be about to pay the bulk of a new one in cash, and in the meantime have a cash reserve in case of … trouble.
Oh, and don’t quit the day job!