If you owe bills and are wondering how you will make extra money to pay them, our Penny Stupid Project has uncovered a way to do that.
The idea behind the Penny Stupid Project is to test all the side hustles out there to find out what is real and what is hype. If we try them for you and show you the best opportunities to make side hustle money, that saves you valuable time and aggravation.
I’m Steve Rhode, the Get Out of Debt Guy, and I’m not getting paid a penny to tell you this. We tested it. It is proven. It’s a legitimate side hustle for some.
Side Hustle Clinical Trial Halted to Share Early Results
Just like when doctors test a new medicine, and it is working better than expected, and they stop the clinical trial, we’ve found something like that for you if you need to earn money right now.
Damon and I have taken on different tasks suited to our skills. The job Damon has discovered early success with is being a rideshare driver.
He’s tested out both Lyft and Uber, and the results are promising. He’s demonstrated that making $1,300 a week in your spare time using your car is possible. That’s an extra $50,000 a year as a side hustle.
Same Day Pay is No BS
Let’s talk about Lyft right now. Lyft offers Express Pay which allows you to get earnings deposited in your bank account in a few hours, depending on your bank’s processing time.
Express Pay lets you cash out your earnings instantly to a debit card.
If you have a surprise bill due and it is less than $1,000, you can side hustle being a Lyft driver to earn that money this week and pay it. It is possible, and we’ve proven it.
If you’d like to explore the rideshare side hustle with Lyft, visit Dive for Lyft and All the Other Scoop, and you can find out how to get the first month’s guaranteed income bonus and have Damon coach you to become an exceptional Lyft driver.
Like everything in life, things have pros and cons. Being a Lyft driver might not be for you, but here are some pros about doing it.
- Start tomorrow.
- Turn your car into a money machine.
- Set your hours. Work when you can.
- Get paid almost instantly.
- Meet some fascinating people.
- You can get paid to drive to work. So pick up a ride headed your way.
- Discover the area you live in.
- If you are willing to learn and implement tips to earn more, you will.
- Customers are sent to your phone for rides. No marketing or sales is required.
- Lyft driver coaching from Damon is available.
- Driver bonuses are real and amplify your earnings.
I met a high-level executive in Miami that commuted downtown each day. He turned on Lyft on his way to work and picked up Lyft Lux requests going downtown. He made money commuting. Genius.
There are some downsides to consider.
- Some people can be jerks.
- Driving might not be something you enjoy.
- It can be dangerous if you are not savvy about ride locations or riders.
- Not every ride opportunity is created equal or pays the same.
- You can wind up sitting if you don’t plan your drives wisely.
- You will spend a lot of money on gas.
- If you think you can’t succeed, you won’t.
- Success depends on where you live. Near more people means more opportunity.
- Your car will depreciate faster.
I had a Lyft driver once that lived about an hour outside of Raleigh, North Carolina. There were no requests in his rural area, but he told me he made the hour commute during prime time a few times a week to Raleigh and was doing well enough for his wife to quit her job.
You can stay up to date with the latest emails on the Penny Stupid Project by clicking here.
This is an ongoing test in our project, and there are other ways to earn money with your car. This is the first experiment. Damon is also testing Uber as well.
FYI, I’m working on retail arbitrage, Mechanical Turk, and YouTube at the same time. However, these projects and tests take longer.
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