At least on a daily basis, I get asked, “Glenn, what is the sharing economy income potential of X?” To which the answer is always, it depends! Which platforms do you plan on using, how many hours can you dedicate, and where do you live. These are all important factors in these types of calculations.
That said, there are some serious opportunities for sharing economy income. JP Morgan recently released a study where they noted that sharing economy workers were able to cushion their regular paychecks by an additional 15% through the sharing economy. Not too shabby!
So, how much can you potentially earn in the sharing economy? There’s now a calculator for that! We’ve spent months testing, re-testing, and focus grouping extremely scientific…Sorry, I’m totally lying. Two days at my favorite coffee shop and voila, the new Casual Capitalist sharing economy income calculator is ready.
A quick disclaimer about calculating potential sharing economy income. This is a tricky endeavor because it is dependent on where you live, how much time you have, how diligent you are, and many other non-quantitative factors.
Please understand that these are only rough estimations. So don’t go out upgrading your life or bring a print-out of this to your mortgage broker.
Have fun with this, and use it as a first step to uncovering what side hustling in the sharing economy can do for your financial situation.
Did we miss a particular sharing economy website? Of course we did, there are 100’s out there! Respond in the comments with any websites you would like included and we will do our best to add them in.
Happy calculating everyone!
The Sharing Economy Income Calculator
Interested in any of the above sharing economy websites? Here are specific resources to help you get started:
- Uber: Ride-sharing Fastlane: How To Cash In And Become A Better Uber Driver
- TaskRabbit: How To Cash In and Kill It on TaskRabbit
- Airbnb: How To Rock At Airbnb Hosting For Amazing Cash Flow
- DogVacay and Rover.com: How Hosting Dogs And Cats Can Earn You Easy Cash
- Tutoring: Teach Online Now: Your Cash Guide To Wyzant, Udemy, and More
- Delivery: Part-Time Delivery: How To Make $1000 A Month Delivering Stuff
- WeGoLook: WeGoLook: The Secrets to Amazing Part-Time Sharing Economy Jobs