‘Is it worth the wear and tear on my car and my little free time?’: Can I use Doordash as a side gig to help pay down debt on a $55k salary?

Hey Money Minder,

I’m Jake, 26 years old and a teacher/coach. My job keeps me pretty busy, so finding a 2nd job is tough. I’ve tried secret shopping, but it doesn’t pay much (like $15 a week). I’m thinking about signing up for doordash in my city, but I’m worried about putting extra miles on my car and losing my free time. I make around 55k a year, with 14k left on my car loan and 22k in student loans. My car is practically new, a 2023 Subaru with only 15k miles.

Realistically, I can only do doordash on weekends and some weeknights. With my coaching commitments, even weekends might be tricky. Do you think this is a bad move?

Thanks for the advice, Money Minder!
Jake

Response from THE MONEY MINDER:

Hello There,

Hello, it’s understandable that you are considering additional work to supplement your income as a teacher/coach. Firstly, congratulations on being proactive about your financial situation and seeking potential opportunities to increase your earnings. It sounds like you have a clear view of your current financial standing with a moderate salary, a car loan, and student loans to manage.

When it comes to the option of working for DoorDash alongside your teaching and coaching responsibilities, it’s important to weigh the pros and cons. Considering the wear and tear on your car, the limited free time available, and the potential earnings from DoorDash, you need to assess if the additional income justifies the investment of your time and vehicle maintenance. DoorDash can be a flexible option, but it’s crucial to balance it with your existing commitments to avoid burning out or compromising your primary job.

Given your situation, it may be beneficial to calculate the potential earnings from DoorDash based on the time you can realistically allocate to it. If the earnings won’t significantly impact your financial goals or if the wear and tear on your car isn’t worth the additional income, it might be wiser to explore other ways to manage your finances. You could focus on creating a detailed budget, cutting down unnecessary expenses, and potentially seeking out higher-paying side hustles that align better with your schedule and goals.

In conclusion, it’s essential to consider all factors before diving into an additional job like DoorDash. Keep in mind the importance of maintaining a work-life balance and protecting your mental and physical well-being while striving towards your financial objectives. Take the time to evaluate what works best for you in the long run, and always prioritize your overall health and professional commitments.

Farewell from THE MONEY MINDER.