Wallet Hacks

Earn Extra Money Driving for Lyft plus a $300 New Driver Promotion

When I was younger, I would do side hustles all the time. I'd buy things online at a discount, sell them on eBay, and ship out the products. I'd make somewhere around a hundred bucks a week of spending money but it took so much time.

My best finds were John Deere trucker hats I could buy for $10 and sell on eBay for $25-30. But it was a pain!

You had to collect the money, box them up, ship them, and then wait for the buyer to get them. All for $15-20 minus Paypal fees and eBay fees. I probably netted ten to fifteen dollars a pop.

If rideshare companies like Lyft were around, I probably would've been doing that instead of flipping items on eBay.

What is Lyft?

Lyft is a very popular ridesharing app. As a rider, you download the app and use it to schedule a ride much like a cab. Lyft gives more than a million rides a day and covers 94% of the US, so chances are it's in your area.

As a driver, it's a great way to earn extra money (especially given the new driver promotion) on the side. Whenever I have called for rides, I always ask the driver about their experiences driving because it fascinates me.

They invariably fall into two categories:

For the part-timers, I've taken rides with a ballet dance professor, a certified Master Electrician, an HVAC and furnace repairman, and about a dozen college students.

They love it because you can earn money on the side in small manageable bites without adding another boss to their lives.

The Master Electrician told me he always fires up the app when he's leaving work and within a couple rides, he's taking someone in the direction he would be driving for his commute. He makes a little extra money, monetizes his own commute (which is brilliant!), and is financially a bit closer to his own goals in providing for his young family.

Another aspect he loves is Prime Time. Prime Time is when you, as the driver, get paid more for your services, usually some kind of multiple, because it's a high demand period. So whenever there's a concert in town, he turns on the app to earn a little extra especially since his young kids will be asleep at those prime time driving periods.

It's actually a brilliant strategy for monetizing that down time in a meaningful way.

(Lyft also has fantastic tipping options, and has had them for quite a while, so he earns even more than other ridesharing apps.)

You Can Drive Without a Car

That's not a typo – Lyft has an Express Drive program in select cities where you can rent a car to drive. The rental will have insurance and maintenance included, so you don't even need to bring your own. You have to pass certain requirements, based on the location, but otherwise you rent a car with Hertz or GM Maven (all within the app), pick up the car and start driving!

At the time of this writing, it's available in Atlanta, Baltimore, Boston, Chicago, Dallas/Fort Worth, Denver, Detroit, Las Vegas, Los Angeles, Miami, Nashville, Orange County, Phoenix, Portland, Sacramento, San Diego, San Francisco, San Jose, and Washington, D.C.

$300 Sign On Bonus

New drivers get a $300 sign on bonus when they give 100 rides within 30 days of approval – that's only 3-4 rides a day. This promotion expires at the end of 2017.

That's on top of what you earn as a driver, the tips you earn (Lyft drivers keep 100% of the tips), and you can see your performance all within the app with 100% transparency.

Sign up to be a Lyft driver here!

This post was sponsored by Lyft but all thoughts and opinions are my own.