How Much Can You Really Make from a Side Hustle Like DoorDash?

NerdWallet's Smart Money Podcast

NerdWallet Personal Finance

Business, Education, Investing, How To

4.2 • 665 Ratings

🗓️ 8 July 2024

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Understand how much extra income you could get from a side hustle like DoorDash and get a budgeting and investing basics refresh. 00:40 This Week in Your Money: How much extra money can you really make from side hustles? What are budgeting and early investment strategies for young professionals? Hosts Sean Pyles and Sara Rathner discuss the realities of gig economy jobs with Tommy Tindall, a NerdWallet writer who tried working for DoorDash to see what kind of income it would give him. He shares tips and tricks on the ease of starting with DoorDash, the practical challenges involved, and how your location and lifestyle can impact your earnings. 11:08 Today’s Money Question: Host Elizabeth Ayoola joins Sean and Sara to help answer a listener question from a recent college graduate about early investment strategies. They discuss how young professionals can apply the 50/30/20 rule to their finances, the importance of setting clear savings goals, and how to start investing at a young age. They discuss the benefits of starting investments early, the differences between active and passive investing options, and the importance of automating investments to build wealth over time. In their conversation, the Nerds discuss: budgeting basics, side hustles, early investing, gig economy, financial planning, saving strategies, compound interest, passive investing, active investing, working for DoorDash, supplemental income, young professionals, financial tips, retirement calculators, IRA benefits, flexible budgeting, money goals, investment strategy, automation in finance, personal finance, tax benefits, savings accounts, financial foundation, robo-advisors, ETF investments, high yield savings accounts, debt repayment, financial pitfalls, emergency fund, savings goals, financial goals, practical saving tips, visualization exercises, setting financial goals, low tax rates, short-term savings, long-term savings, reverse budgeting, and investment automation. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected]. Like what you hear? Please leave us a review and tell a friend. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Prime Video brings thrilling entertainment.
0:03.0	Watch Heavyweight Detective Breacher, Season 3 included with Prime.
0:07.0	Exactly how much danger is this job putting me in.
0:10.0	Treat yourself to the lovably chaotic Bridget Jones mad about the boy available to buy.
0:15.0	Did you have sex? Did you have sex?
0:17.0	Did you have sex last night?
0:19.0	Yes! And it was amazing!
0:23.0	Whatever you're into, it's right here.
0:25.3	Prime Video.
0:27.1	Click or tap the banner to find out more.
0:29.8	Have you ever gotten a food delivery or a ride in an Uber
0:33.3	and wondered whether these gigs are really worth the effort as a side hustle?
0:38.1	Well, this episode will deliver some answers.
0:41.4	Cute.
0:45.3	Welcome to NerdWilet's Smart Money Podcast.
0:51.9	I'm Sarah Raffner.
0:53.1	And I'm Sean Piles.
0:57.3	This episode, Sarah and I are joined by our co-host, Elizabeth Aola, to answer a listener's question about money goals, especially when you're early on in
1:02.2	your financial journey. How do you get a grip on your finances and set yourself up for long-term
1:06.7	success?
1:07.8	But first, we're turning to side hustles. This month on smart money, we're running a special
1:12.1	series about how you can increase your income, whether you want more money to invest, or you're
	...

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