An inside look into the financial playbook and tendencies of professional athletes.

Turo

Turo

What’s up team frugal I’m here to share a quick way to make money on the side without doing any work. With frugal friday, my initiative is to share certain side hustles and tidbits on how to save money or make extra money on the side.

Recently I came across this Turo app. Basically it’s an app that lets you rent your car to other people at your own fee. Basically you are own enterprise. Turo sets up the location, background check, insurance all that ….all you have to do is drop off and pick up. 

I just signed up and decided to rent out my car for the first time this weekend for $250. I live in the city which is close to practice and to the stadium. I don't have to worry about grocery shopping or any errands because everything is close proximity to me. So since I don't necessarily have use for my car all day everyday, I thought it made sense to give Turo a try. If worse comes to worst, I can just catch a ride with friends or teammates that live close by or even uber.

 I think it makes sense to take advantage of this app. If you can coordinate accordingly, you can set up Turo to make a solid side hustle...

Say you want to cut down on your car note expenses, Turo is a great app that can do that. Say my car note is $400 for example, if I were to rent out my car two different times a month, I would pay off my monthly car note with an  extra $100 to put towards my car insurance. If you rent out your car through Turo you can essentially pay your car note using someone’s money. The best part about Turo is that you are not exerting any extra energy or time to make extra money, you are just lending something you have. Athletes that are inclined to get luxury cars, car notes are upwards of $500 dollars. With road trips and days off you can properly schedule when it would be feasible to rent out your car through Turo. With luxury cars as well you can charge more which helps in the long run.

Turo can be a great way for athletes to make extra money for simple things like saving up for a vacation or going out to eat or paying for your car note. With side hustles, it's not that you don't have the money to pay for things it's that you would rather save your main source of income for more important things. Marshawn Lynch and Rob Gronkowski are two athletes that don't touch their main salary and live off other sources of income like endorsements.  Athletes drive for uber  or train kids for extra money , Turo is another way to do just that. 

 

 

 

Per Diem

Per Diem

Perspectives from Juan Anderson

Perspectives from Juan Anderson