Looking for a way to earn some extra money?
With the advent of delivery apps, ridesharing and on-demand services, well, almost everything, there are plenty of options. But it can be hard to know which ones are worth pursuing with your limited free time.
You already work quite a lot from 9 to 5 and are not sure if you want another job. You’re also not sure if any of these extras you keep hearing about are paying with real money or if they’re just a scam.
Let’s look at the gig economy. What’s this? And can you really make money?
What is Gig Worker?
Giant Jobs is a selection of short-term, flexible jobs where you get paid for every task. They can range from food delivery to dog walking and furniture installation. They generally work on demand for a set fee and you get paid every time you perform this service.
Because gig work is usually organized through a company (like Uber, DoorDash, etc.), you don’t have to worry about a lot of the extra business stuff like paying for marketing or trying to find clients. .
Pros and cons of the gig economy
- You don’t have to worry about marketing as the app finds customers for you.
- You can easily find other gig workers to ask for advice.
- Giant work is flexible – you decide when to work.
- You get paid for every performance.
- Fees may not always be as advertised. Many apps will advertise what you can earn without taking into account your expenses (such as fuel if you’re driving or travel time).
- Lack of job security. You are at the mercy of the application. A few bad grades can cause you to lose your job.
- You will have to spend money up front on insurance and other expenses with some gigs. For example, you are responsible for your own insurance as a bus driver.
What about the Gig Work scam?
Not all job offers are the same and there is no shortage of shady people who are willing to waste your time.
Here are some tips on how to recognize scammers:
- You can’t check if a company/app is legit.
- They make you pay upfront for free just to just sign up or become a member. (Please note that some legitimate applications do charge for background checks or other verification purposes.)
- There is no interview or application process to get approved.
- They find you. They come to you with promises of easy money or some other suspicious pitch.
- The position is filled with bugs.
Read more: How to recognize and avoid telecommuting scams
5 ways to make money in the gig economy
There are many companies and apps offering gig work. Here are five of the most popular:
1. Apply for a casual job on TaskRabbit
What can you do on TaskRabbit? All.
Tasks range from arranging Ikea furniture to waiting for someone in line. Yes, you read it right. There are people who get paid to stand in line as a gig.
If you have any useful skills or can do odd jobs, you can get paid gigs on TaskRabbit instantly.
With so many opportunities requiring different skills and different pay rates, here’s how to find the right TaskRabbit job (and pay rate) for you:
- Look for popular concerts near you. Find out what’s popular – and what’s missing – in your area.
- Scroll through the list until you find something you could do (from needlework to housework).
- Check how much others are charging for this service.
- Get a ballpark estimate of what you could earn by freelancing.
- Offer your services.
How much can you earn with TaskRabbit?
I searched for services similar to what I could offer on TaskRabbit to see the pay range. You can earn anywhere from $60 to $151 for table assembly, up to $159 for lifting furniture upstairs, and up to $80 an hour for waiting in line.
Are there any fees with TaskRabbit?
You don’t need to spend money in advance to create an account on TaskRabbit. You can take a job when you have time and get paid every time you complete a task.
Learn more about TaskRabbit.
2. Working with dogs on the Rover
Are you a dog person? Do you like to go for walks?
There are many options on Rover to earn money as a worker. You can adopt furry friends for the night as a babysitter or walk the dogs during your lunch break.
How much can you earn with Rover?
You can earn up to $20 for a 30-minute walk and up to $75 per night if you want to take dogs in for the night.
Rates can also fluctuate depending on where you live and what services you are willing to offer. I have friends who make good money walking their dogs during the day and looking after them at night (up to $80 a night).
Are there any fees charged to Rover?
You must pay a one-time fee of $25 to apply for a dog job as they do background checks. Once you’ve been approved, you can start applying for gigs.
Find out more about Rover.
3. Deliver groceries, food or alcohol (UberEats, DoorDash, etc.)
You can deliver food, meals and even alcohol to people. There are established companies like DoorDash and UberEats, and new competitors are constantly emerging.
How much can you earn on shipping?
Our writer, who tested delivery for DoorDash, found himself making about $15 an hour. But the amount you can earn will depend on where you live and what the demand is.
Is there a delivery fee for concerts?
You will need to factor in fuel and other expenses if you end up using your own vehicle.
Learn more about DoorDash.
4. Test Fiverr (or Upwork)
You can offer various random gigs on sites like Fiverr or Upwork. Services can range from voice acting to creating your own logo. The services you offer will depend on your specialized skill set.
How much can you earn with Fiverr?
Fiverr originally got its name because everything on it cost $5. Now this has changed and the rates on similar freelance sites can vary a lot, so it’s best to reengineer when setting your rates: think about what services you can offer and then see what the current rate is for a similar service. Job.
Our writer tested Fiverr and found that the rates are fair.
Is there a fee with Fiverr?
There is no fee to get started on Fiverr, but they will cut 20% each time as a maintenance fee.
Find out more on Fiverr.
5. Offer an Airbnb experience
Did you know that Airbnb is now more than just a place to sleep?
Airbnb experiences are tours and activities that can be booked through Airbnb—everything from food crawls and tarot card readings to goat yoga classes. Indeed, there are no limits on what you can turn into an Airbnb activity.
How much can you earn with Airbnb Experiences?
Below are some of the most popular things to do in New York. As you can see, you can charge $55 per person doing commission purchases or $30 per person doing a street art tour.
Your goal should be to create a limited spending experience that will help you maximize your income.
Is there a charge for Airbnb Experiences?
Airbnb charges 20% for every experience.
Find out more on Airbnb.
How to Find Opportunities in the Gig Economy
Look for what is popular around you. Are you in a city with a lot of dogs? How many people are looking for commuting options? A friend of mine got into the alcohol delivery business during the pandemic lockdown because these apps were advertised everywhere for workers.
Then think about what you can offer. Can you build tables on TaskRabbit? Do you have free time to queue? Could you create graphics on Fiverr?
Once you’ve narrowed down your options, go through the process to get approved. Be aware that some gigs may require things like background checks, so there may be a delay between when you register and when you can actually start applying for gigs.
Financial considerations for being a gig worker
Before you start applying for jobs in the gig economy, there are a few financial considerations you should consider.
You must know your real rate
In other words, is it worth it? It is important that you calculate your real rate per hour so that you know how much you are actually bringing in.
For example, how much money do you pocket compared to the time it takes to complete the job?
Note that gig apps are pretty smart when it comes to marketing how much you can potentially earn, so be sure to do your own calculations.
You must maximize your earnings
The truth is that your earnings in the gig economy will depend on where you live, how long you work, and when you work.
For example, my friend wanted to work during the day because his main job as an artist was that he worked in the evenings. So he started delivering food. He soon realized that there was an extra charge for his lunch break, and he was able to earn $100 from just three hours of work. As a bonus, he delivered food on his bike, so he also worked out during the day.
Filing taxes is your responsibility
One thing you should consider with any new source of income is taxes.
You are considered an independent contractor, which means you are not subject to taxes. You must keep track of your income and report it on your tax returns. It’s a good idea to set aside 20% to 30% of your income for the duration of your taxes. Put them in another bank account so you won’t be tempted to spend them.
Read more: How much should you allocate in your tax budget for self-employed as a freelancer?
The gig economy offers flexible work so you can earn money on your own schedule.
If you’re looking to make some extra money or just want to try your hand at entrepreneurship, then the gig economy is perfect for you.
Featured Image: SFIO CRACHO/Shutterstock.com