?? 8 Things Destroying Your Income
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8 Things Destroying Gig Workers’ Income
Join RSG Contributor Tyler as he shares what could be destroying your income.
If I made $100 a day with gig work for 5 days, I should have $500 in my bank account.
So, why do I have less than $300?
Making money is important, but it is NOT the most important part of gig work.
The most important part of gig work is making sure that you are KEEPING as much money as possible.
So many drivers make huge mistakes that cost them hundreds if not thousands of dollars.
1. Buying Food Instead of Bringing Snacks/Meals
Until I started using gridewise to track how much I was actually spending on food, I had no idea.
Does this sound familiar?
You drove for 8 to 10 hours, made good money, $25+ an hour, and now it’s time to go home.
You don’t feel like making food cause you’re tired, so you stop and get something quick and easy (otherwise known as expensive) to eat.
Or worse, you go home and order from the same app you’ve been driving for all day.
Sometimes, you don’t even make it through the entire shift. Especially if you’re driving 8 to 10 hours, you get hungry. So, you stop, get a quick snack and keep on driving.
Instead of spending an hour’s worth of work on food, plan ahead and get some snacks, or pack a lunch. Don’t forget about drinks. I always pack a Celsius and several bottles of water.
You can still count this food as a business expense, but it will be much less expensive than it would be if you worked all day without a plan.
2. Not Doing Proper Maintenance on Your Car
For my first car, I literally didn’t know that oil changes were a thing (don’t judge me). And she died, very quickly, well after 20,000+ miles and driving with no oil for about 6,000 of those.
Seriously, don’t judge me.
It’s simple, it takes less than 20 minutes, and can save you thousands of dollars on buying a new car or costly repairs.
Another thing about repairing your car or getting a new one is that you don’t have a car to drive while you’re in the process of getting a new one. So not only are you spending a lot of money, but you’re making none.
3. Not Resting or Taking Care of Your Health
If your car dies, you can get a new one. It will be difficult, it might cost you more money than you want to spend, and it will be stressful.
If you die….
As grim as that sounds, your health is important. It can seem like driving more and making more money is the answer, but if it starts to cost your health, it isn’t worth it.
Not only that, but you have to start spending your income on medical bills because your health is so bad.
Gridwise VS Solo App: Full Review And Which Is Better For Drivers?
4. Not Tracking Your Expenses
If you buy anything for gig work, that is a business expense.
You might think that you don’t buy anything, but you do.
Do you own a phone??
You use it for gig work, even if you don’t use it 100% just for that, at least a portion of your phone bill is tax deductible.
Have you had to get a new cable, or a battery backup while doing grocery shopping??
Do you get food and drinks while you’re out, even if it’s on the way home from gig work?
All of this is tax deductible.
I also like to track how much I spend on gas, oil changes, tires, etc., even if it isn’t tax deductible, just so I have all the information of where my money is going.
5. Not Tracking Your Mileage
This could go under track your expenses, but for some reason, this gets overlooked way too often.
Tracking your miles driven is going to be the single best way for you to keep more of your money. Not while you’re driving each day or month, but come tax time you will need this to make sure you get the best tax refund.
The apps DO NOT send you your miles. They send active miles which will be SIGNIFICANTLY less than how many miles you actually drive.
Use an app like Gridwise to track your miles from the moment you leave your home to the moment you step back in.
6. Driving When Convenient – Not When It Will Make You the Most Money
One of the best things about gig work is that I can work when I want and when I’m not doing anything else.
One of the worst things about gig work is that I can work when I want and when I’m not doing anything else.
Having freedom over my schedule is exactly what I need. But, if I drive when I “feel like it” then I’m not going to make money.
I typically do delivery driving. People are hungry around lunch and dinner time, so if I try to drive at other times, I might make some money, but it won’t be good money.
If I do passengers, driving around lunch time will not make me great money, but driving on a Friday and Saturday night will.
So figure out the peak times to drive in your area and stick to those.
7. Not Having a Goal
I have to make $100 a day or I don’t want to go out and drive.
You know what happens most days??
I make MORE than $100 because my minimum is set.
If you go out with the idea of “making what I can” then you will make whatever comes your way.
By setting a goal, it motivates you to not only reach it but beat it. It keeps you going when you’re tired and want to go home. It makes you accept one more ride to hit the goal.
8. Overdoing Gig Work
Related to not taking care of your health is just overdoing it with gig work.
Yes, your health, physical and mental, will be affected. But you’ll likely also get to a point where you just don’t want to do it anymore, and you won’t.
If you don’t take time to recharge, step away, and then get back to it, then you’ll lose money by never doing it again.
It’s all about balance.
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