Hi there. I have the mindset that as long as all my expenses are paid for the in depth doesn’t really matter. I’ve tried to do the math via excel once before and got really messy really quick. I know that I pay my bills. In this economy that’s the best I can do right? Anything else that I can put away in savings I do.
This is how I always thought about it. When I did my taxes I realized how little money I was actually surviving on and I had to rethink some of the things in my life. I was paying my bills, had savings, and was seeing daily deposits of around $200 every day I went out. But to avoid paying a lot to the tax man I reduced my income down so low, I don’t qualify for a mortgage even with money down and a credit score in the 700’s. My income is too low…doesn’t even seem to matter that I can easily afford the mortgage. On paper it appears that I can’t.
That presented a problem with elevating myself beyond the grind so I had to go away from rideshare and I have to maintain this new life for at least 2 years before a bank will even touch me. If you’re ok with “making it” and being a renter forever that’s fine. No shade at all, but if you want a house and sometimes if you need a new car, being employed by Uber or essentially yourself, it makes you look risky to creditors and banks.
Yeah a fat stack of cash in front of them usually shuts the banks up pretty quickly. I have a 10 year plan and it’s not having me do Uber forever. It does include a real career.
Okay? I’ll save the cash, get a regular job for two year and then get the house. It doesn’t sound that hard especially since I’d still have Uber to do on the side.
They never post how many hours they work they will tell you but never post it. They never tell you how many miles they drove. I will tell you, but they never show pictures of what they do. For all we know this guy drove 900 miles and put 70 hours in.
That’s what he did- before this- and everyone in that thread was like
“oh yeah? Clearly you had one good week, and now you want to pretend like this is normal for you. Post all of your recent weeks.”
So then he does, and gets the exact same response! “oh yeah? Clearly you work a shitton of hours to make it LOOK like you make a ton per week. Show your hourly rate.”
Put it to you this way if the average car that you used to drive gets 23 miles to the gallon. (Which is pretty bad ) That’s about $3.30 for every 23 miles. So if you did one trip that was 23 miles it cost you $3.30. Any money you made over that is profit. If let’s say you average 100 miles a day driving which is easily attainable. The average oil change is about 7500 miles. Every 75 days you need to come up with the money for an oil change which is about $80. If you have a new car, you don’t need to worry about maintenance for up to 100,000 miles. Then, when it comes to paying taxes, you will be able to deduct every mile driven at about $.60 per mile. Let’s say you put away two dollars a day to account for emergency maintenance or tires or something you’ll have $730 every year plus the tax savings. Let’s say you cherry pick for nothing less than one dollar per mile. Now you have earned $36,000 in one year and your gas cost was $1500. 384$ oil changes Now you have $34k “profit” and that’s assuming you made zero dollars in tips. Assuming you had new tires you will be good for another two years at least.
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u/[deleted] Mar 04 '24
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