Studies show that one in every two Americans is living paycheck to paycheck. Whether you’re supporting a family or just getting started in your career, a few extra dollars can make a big difference. But given the current state of the economy, that cash might not come from your typical sources.
The “e-conomy” as some call it has introduced a number of digital platforms that connect individuals with non-traditional earning opportunities. Today we’ll cover a few applications that focus on transportation as a means for extra income.
Have a car of your own? How about a parking spot? Sharing those resources is not only good for the environment, it can also help you make a bit of extra cash to put toward goals and savings. Ridesharing brings up inherent safety concerns for both passengers and drivers, and you should always do your own due diligence before participating. If you decide carsharing is for you, take a look at these three online platforms.
Ads for on-demand carsharing app Lyft entice viewers to make money and “have fun driving your own car.” Drivers are matched with passengers who use the app to request rides.
To get started you’ll need to meet the following requirements:
- Pass DMV and background checks (the process takes one to two weeks).
- Be at least 23 years old.
- Own your own car (2000 or newer)
- Have an iPhone or Android.
Payment-wise, drivers get 80% of the total donations from passengers (meaning income is not guaranteed), and the money is deposited into your account on a weekly basis. And with Lyft, you get to choose when you drive: nights, weekends, one hour on Monday afternoon…it’s completely up to you.
Sidecar is another mobile app that connects drivers with those who need rides. To become a Sidecar driver you’ll need to fill out a form, upload a few documents, undergo a background check, and then complete a quick online interview.
You’ll also need a registered four-door vehicle in good working condition, valid insurance, and a current driver’s license. Again, contributions are voluntary, and so income not guaranteed. But at the end of each ride the Sidecar app provides a suggested price based on distance. Drivers receive any earned donations each week via direct deposit.
One of the biggest challenges of living in a large city – particularly if you’re a car driver – is finding parking. Besides the penalizing cost of parking tickets, finding parking sometimes involves driving around the neighborhood for several minutes until a parking space opens up.
If you’re lucky enough to have an available parking space, that piece of real estate could mean additional revenue. It’s not uncommon to find garage or parking space for rent signs in trendy city neighborhoods. Now, Parking Panda can also help you find people willing to pay money to use your space an evening, a weekend or an entire month. To get started you’ll need to set up an account and take a picture of your parking spot, then set your going rate and the availability of the spot.
You’ll be notified by email when someone rents your spot. While listing itself is free, Parking Panda takes 20% of each completed transaction.