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Are you a truck driver looking for some ways to supplement your income? Or maybe you have a different day job, and you’re considering truck driving as a part-time side hustle. Whatever your situation is, you’re no different than many others in the world today. Inflation has hit all of us really hard, and it’s not so easy to live on just one income anymore. In this article, I’m going to cover how to make extra money as a truck driver.
Since you’re reading this article, you likely fit into one of the three following categories…
- You are employed as a truck driver, and you want to make extra money outside of the trucking industry somehow.
- You are employed as a truck driver, and you want to make extra money in trucking somehow.
- You are not employed as a truck driver, and you want to make extra money in trucking somehow.
I am going to cover all three of these scenarios in this article. Hopefully, one of the ideas will be the right fit for you.
Many “ways to make extra money” involve trading your time for money – as in getting a second job or a side hustle. However, there are also ways to make money that don’t involve trading your precious time! This is what is known as “passive income,” and passive income is the main focus of this blog.
What is Passive Income?
Passive Income can be defined as an income received on a regular basis, with little effort required to maintain it.
Passive Income Plan
Passive Income for Truck Drivers
There are many ways for truck drivers to earn passive income. I’ll quickly highlight just a few of those here before moving on to the ‘extra job’ ideas. It’s important to note… most passive income ideas require that you invest some time or money upfront in order to create the passive income streams.
Passive Income Ideas for Truck Drivers
The first two ideas require a significant money investment if you wish to earn any substantial passive income. The next two ideas require just a little bit of time investment to get set up, and then the passive income is mostly automatic month after month. The last idea requires a significant time investment – but also has the greatest potential for large monthly payouts.
DIVIDEND STOCK INVESTING
Arguably one of the simplest passive income streams you can do is investing in the stock market.
For a very small amount of money, you can buy shares in a company that pays out dividends – and then sit back and wait for the profits to roll in!
The more money you’re able to invest, the more shares you can buy, which will equate to higher dividend payouts.
Click here to read more about Dividend Stock Investing
Invest in Hands-Off Real Estate
If you want to get in on the rental property action but fear that your job as a truck driver will limit your time to devote, then a Real Estate Investment Trust (REIT) might be the answer for you. Crowdfunded real estate is another popular way to invest in real estate the easy way.
A REIT is a very affordable way for everyday people (like you and me) to be able to tap into the vast wealth of the property market. Investing in a REIT is almost identical to investing in the stock market.
Click here to read more about Investing in a REIT
Another exciting way to ‘hands-off’ invest in real estate is with the crowdfunding method. Fundrise is a leading online platform in the crowdfunding real estate space. Unlike most private real estate investments, their low minimums give you the flexibility to invest the right amount at the right time to meet your goals.
Click here to read more about Crowdfunding Real Estate
RENT OUT YOUR STORAGE SPACE
The self-storage industry is huge. In the U.S alone, the average annual revenue for the self-storage industry is a staggering $39.5 billion! If you have some extra space (garage, basement, attic, closet, shed, barn, etc.) then why not consider renting it out for some easy monthly passive income?
For more ideas and to see what kind of rates you can charge where you live, check out neighbor.com and put your spare space to use.
Click here to read more about Renting Out Your Storage Space
CASHBACK CARDS
Some passive income ideas require very little effort – and this is one of them!
Earning cash back on your regular spending is a simple and guaranteed way of generating passive income. If you’re not already doing it, then arguably this should be the first tactic you employ.
Click here to read more about Cashback Cards (and Points Cards)
START A BLOG
If you have some time at your disposal, then you can build yourself an asset that will generate passive income for years to come. Be warned, though – it will take a lot of time and energy upfront.
Learning the basics of starting your own blog is not difficult. The hard part is staying persistent in creating content and then figuring out ways to build up traffic through SEO or social media marketing. However, once you’ve spent a few years putting in the hard work, the ongoing effort lessens while the income increases.
Click here to read more about Starting a Blog
Extra Income for Truckers Outside of the Trucking Industry
If you’ve looked over our list of the 27 best passive income ideas (including the ideas mentioned above) and you just don’t think that this passive income thing is for you… Then you might be better off trading your time for money. This means getting an extra job on the side, sometimes known as a “side hustle.”
In today’s world, it is easier than ever to find ways to earn extra money – as long as you are willing to trade your time for that money. Trading time for money isn’t always a bad thing. One way to look at it… the more time you spend at work (earning money), the less time you have to be out wasting spending your hard-earned money!
Another thing to consider is the type of truck driving job that you have. Are you an over-the-road trucker or a local truck driver who comes home every night?
Side Job Income for Over-The-Road Truckers
Over-the-road truckers may need to consider non-traditional part-time jobs to earn extra income. Here are some online side jobs that might be a good fit for an over-the-road truck driver…
- Transcriptionist
- Content Writer / Freelance Writer
- Proofreader / Freelance Editor
- Website Tester
- Photo Editor
Side Job Income for Local Truckers
For local truck drivers who work a more “normal” schedule, the possibilities to earn extra income are limitless! This type of truck driver can get any type of part-time job, whether it be in retail (a sales clerk), in a factory or in a warehouse, as a delivery driver, in the service industry, or anything in between! Here are just a few ideas from the unending possibilities…
- Cashier at any local store on nights/weekends
- Restaurant work (wait staff, cook, dishwasher, etc.)
- Load/Unload trucks (UPS, FedEx, Amazon)
- Gig economy worker (DoorDash, GrubHub, InstaCart, Uber, Lyft, etc.)
- Lawn/Landscaping (cut grass, rake leaves, shovel or plow snow, etc.)
Extra Income for Truckers Within the Trucking Industry
If passive income doesn’t seem like the right fit for you AND you can’t see yourself working another job outside of the trucking industry… well, luckily, there are options for you as well!
Again, your options may be limited depending on which type of truck driver you are. Nevertheless, there are always ways to earn extra money.
Extra Income for Over-the-Road Truckers
If you’re stuck in the cab of your truck during your “off” hours, it might be a little more challenging to find ways to earn extra money. Here are a few ideas…
- Lump freight – have you seen how much your company pays those lumper services? See if they will pay you to lump your load instead! You can also offer your service as a lumper to other drivers who don’t want to lump their own freight.
- Take loads with multiple stops – loads with multiple stops tend to pay more. Ask your dispatcher for more LTL (less than a truckload) runs with multiple stops. Be sure that it pays accordingly beforehand.
- Sell supplies or services at truck stops – buy & sell trucker supplies for profit (gloves, tools, electronics, etc.). If you’re mechanically inclined, you could do minor truck maintenance gigs.
Extra Income for Local Truckers
If your hours are limited at your trucking day job, and you want to earn more as a trucker, there are options for you too. There are several side hustles with a CDL that you can consider…
- Package delivery – it never hurts to check with some of the big dogs to see if they need help on a part-time basis (UPS, FedEx, Amazon)
- Local work for an OTR trucking company – you might be surprised at the need for part-time local drivers for some of the over-the-road trucking companies. They might need trailers spotted or picked up from local businesses or they might need freight delivered on nights or weekends at specific appointment times.
- Regional weekend runs – again, if you have weekends off as a local trucker (like I do), some OTR companies might have weekend runs that you can take. Not only will you earn some extra money, but it might be fun to take a weekend road trip in a big rig!
- Dock work – other local trucking companies might have early morning or late afternoon dock work availability. Check with the major LTL companies in your area and see if the schedule works around yours.
How to Make Extra Money as a Truck Driver
If you’re already a truck driver, I hope the tips and suggestions above are enough to get you headed in the right direction as far as boosting your income.
Maybe you’re not currently a truck driver, but the industry interests you, and you want to learn more by getting some experience and exposure to the trucking profession. What better way than to get a part-time job somewhere in the trucking industry?!
If you want to get a driving job, you will most likely need to obtain your Commerical Drivers License (CDL) first. Check with your state for requirements and to learn how to get started. Many trucking companies will even pay for your training in exchange for your agreement to keep working for them for a certain period of time.
Another way to get your feet in the door (as they say) at a trucking company is to get one of many other jobs at the company. Freight handlers (dock workers) are always needed at the local LTL companies. Clerical staff is also essential for things like billing and customer service.
Whatever the case may be for you, I think you’ll find the trucking industry to be really fun and interesting. As a 20+ year trucker myself, I can tell you that making a living as a trucker has absolutely been the ride of my life!
Matthew Allen
Matthew Allen is a full-time trucker, part-time blogger, and imaginary entrepreneur. He's probably not the only trucker who calls himself a dumbass. But, he is the only known trucker who is blogging about passive income."Might be crazy, but I ain't dumb!" ~ Crazy Cooter (also Matt's CB handle)
Matthew Allen
Matthew Allen is a full-time trucker, part-time blogger, and imaginary entrepreneur. He's probably not the only trucker who calls himself a dumbass. But, he is the only known trucker who is blogging about passive income."Might be crazy, but I ain't dumb!" ~ Crazy Cooter (also Matt's CB handle) Original Article