Uploaded March 2023 | Updated September 2026, 2 weeks ago
Are you considering becoming an Uber driver for some extra cash? You're not alone! With the rise of the side hustle, everyone is trying to make money wherever they can. But before you hit the road, there's something you should know.
According to a study done in America, 30% of Uber drivers are actually losing money once car costs are accounted for. That's right, losing money. The report, which surveyed 1,100 drivers, comes from researchers at Massachusetts Institute of Technology.
But it gets worse. The study also found that nearly three-quarters of drivers earn less than minimum wage. That's a hard pill to swallow, especially for those of us who have ever left our mark in an Uber driver's Camry after a big event.
So why are so many Uber drivers losing money? It's simple, really. They're not considering the ongoing costs that come with driving for Uber. Repairs on the car, fuel, and depreciation are just a few of the expenses that can quickly eat away at your earnings.
But don't worry, this isn't meant to scare you away from your side hustle dreams. It's just a cautionary tale to always run the numbers before embarking on any side hustle, no matter how promising it may seem.
So before you start driving for Uber or any other side hustle, make sure you take into account all the costs and make an informed decision. Happy hustling!
Are you considering becoming an Uber driver for some extra cash? You're not alone! With the rise of the side hustle, everyone is trying to make money wherever they can. But before you hit the road, there's something you should know.
According to a study done in America, 30% of Uber drivers are actually losing money once car costs are accounted for. That's right, losing money. The report, which surveyed 1,100 drivers, comes from researchers at Massachusetts Institute of Technology.
But it gets worse. The study also found that nearly three-quarters of drivers earn less than minimum wage. That's a hard pill to swallow, especially for those of us who have ever left our mark in an Uber driver's Camry after a big event.
So why are so many Uber drivers losing money? It's simple, really. They're not considering the ongoing costs that come with driving for Uber. Repairs on the car, fuel, and depreciation are just a few of the expenses that can quickly eat away at your earnings.
But don't worry, this isn't meant to scare you away from your side hustle dreams. It's just a cautionary tale to always run the numbers before embarking on any side hustle, no matter how promising it may seem.
So before you start driving for Uber or any other side hustle, make sure you take into account all the costs and make an informed decision. Happy hustling!
