A Personal Finance Blog for Malaysian: Maximize earnings with 'part time' Uber?

Wednesday, June 8, 2016

Maximize earnings with 'part time' Uber?

Early post refers, THAT one of the key reason the poor being poor is they made poor decisions.
Not working hard enough to enhance earnings is one of the money mistake many people made. However, if in your career it is really not possible to make more income, why not try to do something else?
Be an Uber Driver might be a good choice for some people, definitely not for all.
IF you already own a car, you might consider sign up but if you don't, you might also consider sign up. In Malaysia, without a car, life is difficult but why don't using your spare time to earn extra, and let riders help you to pay installment on your behalf.
Here is my recommendation.
Buy a second hand Honda City 1.5 or Myvi, not too old, say year 2010. Register with Uber immediately and start driving.
Why buy second hand car?
Low cost of doing business = easier to earn profit. Your depreciation will be low for you to breakeven and thus you may earn enough easily to pay installment, petrol and maintenance. The rest is your profit.
In order to earn more, make sure you drive around Urban centre, avoid sub-urban area. You can learn more from Youtube.