For the past several years, gig economy jobs have been a hot topic for younger independent workers seeking to make extra income. Some of the most popular gig economy jobs out there usually involve using your own vehicle and mostly part time work, but there are many more that many do not know about.
In a gig economy, a large portion of the workforce is mostly made up of both part-time and temporary positions. This helps gig economy providers to create cheaper and more efficient business models with a large temporary workforce that doesn’t require traditional employment benefits offered by most companies. This creates an opportunity for companies to lower payroll while still providing a variety of customer-facing solutions. Gig economy jobs are essentially the new modern-day independent contractor. Before taking a gig economy job you should realize what being an independent contractor entails. For example, taxes will generally not be withheld from your payments. Instead, you will be required to fill out your own taxes at the end of the year and be required to pay taxes on the net that you earned while employed. Additionally, many of the benefits you may be familiar with in a traditional part or full time job. For example, health care, dental, vision, 401k are all things that you will not find in a traditional gig economy job. Nonetheless, if you are comfortable with the downsides of a job in the gig economy it can also provide low risk and high upside for those looking for extra income with a flexible schedule.
The biggest Gig Economy job providers are companies such as Uber, Lyft, and Door Dash. These companies rely on their “partners” to use their own vehicles and provide a service that the company facilitates. If you are driving for Uber or Lyft you should probably have access to a newer car that is clean however with services such as Door Dash or Favor, customers are not riding inside your vehicle so you can work those services with almost any vehicle.
If you are looking for quick work or is someone who loves to do something different every day and communicate with a wide range of people, Gig Economy jobs can fill what you need easily. Be prepared though, even though you make your own schedule some of the peak income times for some jobs are also when you do not want to work. Your evenings and weekends may be swamped with personal plans that can take away from your income potential with a gig economy job.