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5 ways to improve cash flow with an Uber Eats side hustle
If you’re looking to make fast cash or quickly improve your cash flow, chances are good you’re exploring a side hustle. While there are multiple options out there, delivering with Uber Eats is a side hustle that pays weekly and can help you improve your financial health. Once you’re signed up and cleared to deliver with Uber Eats, you can start covering gaps in regular pay, build up savings or more quickly pay off debt. Here are five ways delivering with Uber Eats will help you improve your cash flow and work towards your financial goals.
Make fast cash to cover gaps in your regular pay
More than 58 percent of us are hourly workers. That means we may have variations in our cash flow due to unpaid holidays, scheduling mishaps, decreased hours due to cutbacks, or even being out sick. These variations can significantly impact our level of financial stress.
Side hustles that pay weekly, like Uber Eats, mean you can have a reliable source of extra income flowing into your bank account. You can adjust your hours depending on if you need to make fast cash to cover a pay gap now or are aiming to build up a cushion for a future financial shortage. And if for some reason you need to access your money now, you can use Uber Eats’ Instant Pay feature (for a small fee) to get your earnings up to five times a day.
Improve cash flow to avoid high-cost credit fees
Millions of people are using Buy Now Pay Later (BNPL) services to make purchases and 40.9% of renters turn to credit cards to cover unexpected expenses. Why? Because sometimes you have earned enough money to cover our expenses but your paycheck hasn’t arrived yet. To temporarily make ends meet, you might use a credit card. The problem? It’s easy to start racking up debt rather than paying the balance off each month. When delivering for Uber Eats, you can temporarily boost and improve your cash flow and self-fund an unexpected expense instead of using a credit card.
Pay off existing debt faster with side hustles that pay weekly
The average credit card balance for Americans is over $5000. And with 16.27% as a typical interest rate, you can save a ton of money by paying off your balance more quickly. For example, if you pay off a $5000 balance in three months instead of nine, you’ll save more than $200. If you end up choosing a side hustle that pays weekly and you can make payments even more frequently than monthly, you’ll likely save even more.
Build up your emergency fund a delivery at a time
Nearly 64% of Americans are living paycheck-to-paycheck. That doesn’t leave a lot of wiggle room for stashing away cash for an emergency fund. A flexible side hustle that allows you to work as much or as little as you need to will help you build that $500 emergency fund over time.
Emergency funds can be the difference between getting medical attention, car repairs, or vet bills paid for instead of putting it on a credit card and going further into debt. Or worse, not getting necessary items taken care of at all.
Alternatively, if an unexpected expense uses up your emergency savings, you can scale up your Uber Eats delivery side hustle with a few extra hours until it’s back to where it needs to be.
Side hustle for a downpayment on a house
You may prefer to rent, but many renters aspire to eventually purchase a home. But unless you’re expecting a major inheritance from a long-lost relative or you make a lot more than you spend, saving up a downpayment for a house based on your current income might seem a little out of reach.
One of the great things about side hustles is that you can mentally separate your regular income from your side hustle and use your earnings to work towards future financial goals. And again, you can decide how quickly and how much you want to earn.
Uber Eats delivery vs other side hustle apps
There are plenty of side hustle apps available out there to suit all sorts of skills and talents.
Uber Eats delivery is a pretty good option for renters because many of us are working hourly, with pay fluctuations that can make covering rent stressful.
A side hustle that pays weekly or daily—Uber Eats delivery lets you get your earnings up to five times a day—is a sound strategy to improve cash flow. The Uber Eats app is also relatively quick to set up and start earning once you’re activated. You can be up and running on average within 48 hours of creating an account.
How to improve cash flow with Uber Eats
It’s easy to get started with Uber Eats. Just download the app, create an account and follow the prompts – be ready with certain documents like your driver’s license and auto insurance. Click here for the full skinny on delivering with Uber Eats.
FAQs about how to side hustle with Uber Eats
Who can deliver with Uber Eats?
Just about anyone can deliver with Uber Eats. If you’re delivering by car or by scooter you must be at least 19 years old and 18 years old or older if delivery by bicycle or foot. You’ll need a social security number for a background check, a valid driver’s license if you’ll be delivering with a car or motorized scooter, and a government-issued ID if delivering by bike or foot.
How much money can you earn?
How much you might earn delivering for Uber Eats will depend on where you live, how often you deliver, and the demand for orders in your area. The basic Uber Eats payment structure is the Base fare + Trip supplement + Promotions + Tips = Earnings Total. Some cities with higher demand for Uber Eats deliveries will pay more and any tips you earn are 100% yours.
Are there set hours?
Nope! There are no set hours when delivering for Uber Eats. And unlike some other delivery side hustle apps, you don’t need to commit to a shift in advance, you just log in and start delivering for as long as you want.
Can you make fast cash with Uber Eats?
Yes! In fact, you can cash out your earnings up to 5 times a day with Uber Eats for a small fee. You’ll be able to make fast cash to cover an emergency expense or make sure you have enough to pay an upcoming bill. Or, for no fee at all, get paid once a week which is still quite a bit faster than most regular jobs.
With 64% of America living paycheck-to-paycheck, the side hustle is our new best friend. Delivering with Uber Eats is a simple and flexible way to make money quickly and work towards your financial goals. You can:
- Make fast cash to cover gaps in your regular pay
- Improve cash flow to avoid high-cost credit fees
- Pay off debt faster with weekly or daily earnings
- Build up your emergency fund a delivery at a time
- Save up for a down payment for a home
You can usually get rolling within 48 hours. Get started (or learn more)!