How to make more money: 5 ways to optimize your driving strategy

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Don’t let the ease of rideshare and delivery driving lull you into auto-pilot. We want to empower you to take control of your earning potential and make more money! 

We’ll look at 5 ways to boost your income by helping you gain greater control over your earning potential and being more attentive to your driving business. Here’s what we’ll cover:

  • Benefits of having a positive attitude
  • Ways to be more cost-effective
  • How to create a winning driving strategy
  • Taking advantage of deals for drivers
  • Accounting for every cent

Benefits of having a positive attitude

The first thing you need to do if you want to make more money as a rideshare or delivery driver is cultivate a positive attitude. Many drivers come into the business by default, and don’t view their gigs as valuable or viable. Whether you’re really a nuclear scientist or a burger flipper displaced by a food prep robot, driving is your way of making money. The more you appreciate your gigs as valuable and viable, the more self-respect you’ll feel!

Driving is hard work. Occasionally it can be glamorous, but you don’t get to drive the pumpkin coach for Cinderella and Prince Charming every night. More often, you’re dealing with ordinary people. Some don’t talk at all, some want to share their problems with you, and others need you to help them work around their physical limitations.

To your passengers, you’re more than just “a driver;” you’re the one who’s going to get them where they need to be. If you deliver, you probably have been in situations where the items you’re bringing are, at minimum, making someone’s life easier. There are also times when you’re delivering medicine or equipment that makes it possible for them to live, period.

When you look at your job as a driver with more respect, you’ll find it easier to attract the rewards that come with gig driving. When you carry yourself with an attitude that says “What I do is important,” your customers are more likely to acknowledge and appreciate the work you are doing for them, and even tip you more!

More importantly, is the habit of viewing your driving gig for what it is… a business that makes you money. Once you begin to see that your driving business is more than something you do to pick up a few bucks, and begin to consciously improve the odds of making more money in the least amount of time, you’ll be successful. Let’s start by looking at ways to limit expenses and maximize your pay.

7 ways to be more cost-effective 

In every line of work, there is a cost of doing business. Business operating costs for gig drivers typically include vehicle and other equipment-related expenses. Here are 7 expenses you’ll want to whittle down:

  • Your vehicle: Depending on how much you intend to work as a gig driver, you might want to consider acquiring an additional vehicle to dedicate to your business. Your decision will depend on several factors, such as budget, how much you rideshare versus deliver, fuel efficiency and interior space. EVs and hybrids reduce overall fuel expenses, but may cost more upfront. Keep in mind that rideshare companies allow vehicles that are around 10 years old or older, and delivery companies are even more lenient. For the low-down on fuel efficiency, check out the U.S. Department of Energy’s comparison of nearly every vehicle that’s on the market.
  • Fuel: Gas costs vary state to state, and within different cities. If you’re thinking about exploring and driving somewhere new, you should first check state-by-state fuel cost comparisons to make sure you’re not losing money traveling somewhere new. For EVs, electricity costs will be the main focus. Check your owner’s manual, local electric company or dealership to figure out what it might cost to charge your vehicle. You’ll also want to know how far you can get on a full charge, so take a look at the average cost of electricity in your state. Your driving style will also affect your consumption rate. Click here for tips on how to maximize your fuel consumption AND your earnings.
  • Cell phone and plan: If you want to be a professional driver, an old flip phone with minutes will not suffice. Make sure that your cell phone can handle the apps you’re using, and that your plan gives you enough data to avoid accruing data surcharges. This Gridwise post lays out the top cell phones and features that work best for you.
  • Shop around for insurance: Every driver needs good insurance, but there are ways to get more value for your dollar. If you need help finding the best, most-cost-effective insurance, we’ve got your back. In this Gridwise article, we’ve laid out the best insurance options to help you secure insurance for your driving business.
  • Get professional business advice: Cutting corners when it comes to self-employed business decisions such as tax prep and LLC formation can lead to big headaches down the road. Hiring a tax professional is often worth more than the money you’d save with a DIY approach. They may advise you on little known deductions and help evaluate your ROI. The IRS website is a helpful resource for finding a tax professional in your area.
  • Curb unnecessary spending: Have you ever calculated how much you’ve spent on fancy coffee drinks and expensive fast food in the last month? I’m sure these expenses are slowly adding up! You’ll be astounded by how simple hacks, such as bringing your own coffee in an insulated mug or eating at home, will add up to big savings over time.

Now that you have ideas about how to better manage the basics of your business, let’s examine how you can make more money by optimizing your driving strategy!

Create a winning driving strategy

The goal of every driver is to make the most money in the least amount of time. In order to do this, it’s important to know when to drive. With our new When to Drive feature, you’ll have access to data-driven insights to decide the best times and days to drive throughout the week.

For instance, if you’re a delivery driver who can’t work at meal times, you’ll want to find strategic locations where after school or late night deliveries are in demand. If you’re a rideshare driver who wants to avoid rush hour, you’ll want to find hot spots to pick-up passengers who want to avoid it too.

Package delivery drivers have less flexibility, but there are some variables you can tweak. If you experiment with different windows of availability, you can schedule blocks that pay well.

Most driving strategies are learned through trial and error. If you want a leg up on the competition, read this Gridwise article for 7 strategies that can help you optimize your driving strategy.

Take advantage of deals for drivers

Being a driver comes with many perks. One major perk is the growing number of apps and service providers that give driving discounts and deals… take Gridwise Gas for example! Gridwise Gas is a great resource to help you find the cheapest gas near you. Become a Gridwise Gas card member and majorly save on every gallon of gas you pump.

Drivers also get special deals on cell phones, data plans, insurance, and even vehicles. For instance, if you’re looking for an inexpensive phone plan, sign up for Gridwise Connect on Visible, to get an affordable phone plan that only costs you $25/month.

You might also find discounts on auto detailing, and other items such as auto parts and maintenance services. You can get many of these benefits through Gridwise, located in the Perks Tab in the app. 

Account for every cent

Recording your expenses, estimating your taxes, and projecting your earnings can all seem to be tedious and trying, but they are essential to your success. 

The good news is that you no longer need to sort through random ledgers and gas receipts. Gridwise acts as a digital tool that’ll allow you to record your expenses and earnings, and estimate the best times to drive throughout the week, all in the app!

Make more money with Gridwise!

Gridwise helps you take control of your money. Manually enter your expenses, track your earnings and mileage simply by syncing your driving and delivery apps with Gridwise.

Tap around a few times, and graphs like these will materialize before your eyes:

Enjoy the deals and discounts for drivers on the Perks tab, and get easy access to the blog, as well.

Join us on Facebook to connect with the driver community and get in on our great gas card giveaways.

Reduce the stress in your driving life with Gridwise. Our goal is to help you drive smarter and tremendously boost your income with our digital tools. So what are you waiting for? Download the app now!

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