Taskrabbit is a popular side hustle option for handy go-getters, but it may feel daunting if you’re just starting out.

Kevin Johnson has been there, done that, and found success. He’s a college student based in Maryland and offers handyman and moving services on the side. His dream is to open an automotive repair shop one day, and he views this hustle as valuable, if nontraditional, career experience.

Finding a traditional job isn’t exactly easy these days. According to the most recent jobs report, the economy added just 73,000 jobs in July. Compare that with 275,000 new entrants — people seeking their first job — who joined the ranks of those already looking.

If you need or want work, take note of what established Taskers like Johnson do to succeed in the gig economy.

What the work is like

Taskrabbit connects customers with capable workers who can put together furniture, lift heavy objects, mount a TV, declutter a room, clean house, run errands and more. The workers — called Taskers on the app — work independently and flexibly.

“Being a Tasker helps with making your own schedule and setting your own rates,” said Johnson in an email interview.

Las Vegas-based Tasker Nola Rodgers likes the people side of the work, and the money. She started tasking in 2021, after graduating high school in 2020, and has turned it into a full-time living.

“I love being able to help families and businesses have what they need to operate daily,” she said in an email interview. “If you offer enough tasks in different categories, you could end up making livable money.”

Rodgers would know. She’s got ‘elite tasker’ status on her profile — which signifies experience and consistently high ratings.

How to stand out and succeed as a Tasker

Johnson and Rodgers have each completed well over 1,000 tasks. You can learn from their insight as you get started with Taskrabbit.

Specialize (in multiple high-demand skills)

Lean on your skills and into services that pay.

Rodgers does TV mounting, packing, organizing and unpacking and even minor home repairs, for example. She also builds a lot of Ikea stuff.

“Furniture assembly is what I get booked most often,” she said. She charges $41.29 per hour for furniture assembly and brings her own tools to the job.

Johnson gets a lot of moving and hauling jobs, which make use of the little red truck he bought in cash with his earnings.

He said “handyman work, such as furniture assembly and mounting [decor],” is good for pay and consistent bookings as well.

Optimize (your Taskrabbit profile)

Your profile is the front door of your Tasker business. Just starting out, you need a compelling pitch.

Rodgers’ profile is fun to read and conveys her passion for building things. Her service descriptions are clear and concise — only a couple lines of text — and include photos of past work (e.g., a big TV hanging level in a living room with all cables hidden).

Johnson, who does a lot of moving, mentions he has a truck, and provides a transparent breakdown of pricing on his profile.

Serve (customers with care)

When customers come knocking, treat them well. Responsiveness, timeliness and perfectionism are key qualities for successful Taskers.

Johnson said he responds to customer inquiries as quickly as he can and stays in contact throughout.

“I always arrive on time and keep them updated on my estimated arrival,” he said.

Customers and Taskers can chat and send photos about the job on the app and website, or connect on a call.

Rodgers also stressed the importance of doing right by the customer. “[It] builds word of mouth and helps with reviews and recommendations.”

Grind and grow (your Tasker earnings)

It may be wise to prioritize reviews over pay rates at first.

Rodgers was on the grind from day one, and said bookings came quickly. “I got on the app and I started doing same-day tasks — I started getting clients that day.” The same-day jobs gave way to advanced bookings, and the ability to earn more.

“I took pictures of my work as I finished tasks to start my portfolio and set my rates at what was recommended, and raised them as it was suggested by Taskrabbit,” she said.

The app offers pricing guidance based on location, task category and level of experience, so you can set competitive rates.

How much you can make depends on a range of factors, especially the time you have for hustling. Both Rodgers and Johnson estimated that new Taskers have the potential to earn around $1,000 – $1,500 a month, but that may not be realistic for all.

And don’t forget — you do gig work like Taskrabbit as a self-employed independent contractor, which means it’s on you to plan for tax time. The good news is Taskrabbit takes its service fee from clients — charged on top of the rate you set.

What to know before you gig

“It is still work,” said Rodgers. “You need to be committed and hardworking.”

Being bossless sounds cool, but without one you’ll have to get out of bed and get going on your own.

Passion helps, Johnson said. “Whatever skill resonates with you, give it your absolute best.”

Reddit reviews are mixed

We sifted through Reddit forums to get a pulse check on how users feel about Taskrabbit as a viable side hustle. Taskrabbit isn’t all roses for everyone who’s tried it. A quick review may dash your spirits. We used an AI tool to help analyze the feedback. People post anonymously, so we cannot confirm their individual experiences or circumstances.

These potential negatives stood out.

• Market saturation: Big cities may have many Taskers competing for work, which makes it tough to get regular gigs.
• Inconsistent income: Since gigs can be sporadic, working as a Tasker won’t guarantee the consistent income of a salaried or hourly job.
• Need for multiple skills: Taskers tend to need skills in various types of task areas to maximize earning potential (e.g., handyman and hauling).

A bridge to what’s next

While your level of success will vary, what you learn as a Tasker could lead to something more.

Around 1 in 13 Americans (7%) set a goal to start a business in 2025, according to a recent NerdWallet study.

As a Tasker, Johnson emphasizes treating customers well, showing up on time, looking the part and doing the job well, qualities that will serve him if his auto shop comes to fruition.

Rodgers aspires to more too. “Over the next five years, I plan to expand my business by making custom furniture,” she said.

She credits the hustle of gig work for helping her launch a business, earn a meaningful wage and build a base of clients.

More From NerdWallet

• Big Paychecks, Big Regrets: How to Avoid Splurge Pitfalls
• What Does It Mean to Be Rich? We Asked 3 People.
• Four Frequent Money Worries – And What To Do About Them

Tommy Tindall writes for NerdWallet. Email: ttindall@nerdwallet.com.

The article Taskrabbit Work: What It’s Like and How to Succeed originally appeared on NerdWallet.

Gene Caballero learned a hard lesson when he bought himself a Tesla, thinking it would be “the perfect upgrade” — and then discovered that it was hard to find an apartment in Nashville, Tennessee with sufficient electric vehicle chargers.

“It’s become a headache constantly worrying about access,” says Caballero, who is a co-founder of lawn care platform GreenPal. “I wish I would have stuck with something more traditional.”

Ashley Carroll, CEO of business consulting firm Operations House in Philadelphia, spent $12,000 to join an upscale country club in the area. She hoped she and her husband would be able to make friends and do some networking. “This was a treat for us,” Carroll says.

In reality, they went to the club twice and both times it was mostly empty. They ended up canceling, losing their deposit and joining smaller, more meaningful local groups.

“That $12,000 could have funded a year of business retreats or simply padded our emergency fund,” Carroll says. “Instead, it evaporated with zero return.”

One of the nice things about making a good salary is that you can afford the occasional splurge — but not every purchase is a winner. Here’s how to be smart about your indulgences.

Why you might have buyer’s remorse

Regrettable purchases share some common themes: You didn’t plan for it, you bought it during an emotional high, it’s hard to resell, or it doesn’t fit your lifestyle or goals.

Alexandra Rooney, a certified financial planner in Greenwich, Connecticut, sees these patterns all the time. One of her clients, for instance, recently considered buying a million-dollar rental property that was five hours away.

“She’s got considerable wealth, but she’s not equipped to be a handyman,” Rooney says. “It’s not a good fit for her in the lifestyle phase that she’s in right now.”

Not every purchase you make will be a slam dunk. But if you’re going to treat yourself to something fancy, here are some tips on how to still like yourself in the morning.

Budget with splurges in mind

“High earner” and “budget” may not go hand-in-hand in your mind, but budgeting is still important, especially if you’re planning to indulge yourself. As always, it’s crucial to cover your needs before your wants.

“Once you’ve allocated [income] to all the necessities — the food, clothing, rent and the savings — then if there’s a surplus, we can talk about that surplus,” says Glenn Downing, a CFP in Miami.

What he advises clients, Downing says, is to make a rule for windfalls. For example, steering a third to savings, a third to retirement and a third for fun.

Rooney suggests that clients buy luxury items with money in the bank — not expected income. While we might plan for spending on an annual basis, “we don’t want to spend money we haven’t received yet,” Rooney says.

Otherwise it’s easy to feel like that purchase is already covered, she says, which means new money that comes in could get used for something else. Some of her clients even set up a separate account to use for big purchases.

“It’s having that long term annual plan and almost saving up for it,” Rooney says.

Reflect before you spend

Consider all the angles of the thing before you buy it. Downing often has conversations with his clients who want to buy a second home for vacations or other real estate.

“At what point does it make sense for you to own something rather than just renting something when you get there?” says Downing, who walks clients through all the logistics: Who will maintain the property? What if there’s an emergency? If you want to rent it to vacationers, does local law allow it?

Rooney reminds her clients that they should be comfortable using the luxury purchase they’re making. “If you buy a mink coat and you don’t feel comfortable wearing it, what was the purpose in buying it?” she says.

One client of Rooney’s committed herself to hundreds of thousands of dollars in cruises without ever having been on a cruise. In the end, the client lost about $10,000 in deposits when she realized she wasn’t a cruise person.

“The marketing we’re fed these days is extremely effective,” Rooney says. “It’s crucial to coach clients through how they feel after spending money, and helping them understand themselves before they sink too much into a luxury item.”

Assign meaning to your money

Jack Heintzelman, a CFP in Boston, has clients think about the deeper meaning in their splurges. “Take a moment to say, ‘What is important to me?’” he says. “And then put the dollars toward that.”

That focus can prevent what he calls the “spiral,” when one luxury purchase leads to another and another. “The key is not about doing everything that is nice,” Heintzelman says. “It’s about what is important to them and going deep on that level first.”

Rooney remembers a client whose job involved frequent plane travel, and his company offered free first class transport — but the client turned it down to fly private.

“It was such an enormous cost to the overall plan,” Rooney says. “Why spend meaninglessly for something that’s really not adding to the bottom line for you?”

When you’re a high earner, “you can do anything you want but you can’t do everything, and you can’t do it all at once,” Rooney says. “Where are those dollars more impactful and where will you find the most joy?”

Kate Ashford, CSA® writes for NerdWallet. Email: kashford@nerdwallet.com. Twitter: @kateashford.

The article Big Paychecks, Big Regrets: How to Avoid Splurge Pitfalls originally appeared on NerdWallet.

By Tommy Tindall, NerdWallet

My wife and I hate our washer and dryer. Both appliances still operate, but the washer leaves behind what looks like little specs of mildew every load. The dryer takes three times on high to get a load dry.

All the trade war talk has us wondering if we should nab a deal now while it doesn’t seem so bad.

A lot of people are worried about tariffs, according to the Consumer Confidence Board’s June Consumer Confidence Index. The report said purchasing plans for appliances were slightly up in June, car-buying plans were steady and electronic-buying plans were down.

The affluent — and I’m not saying that’s me — may be leading the charge.

Back in May, 26% of consumers making $125,000 or more indicated that they’d made purchases ahead of potential tariffs. Expected price rises haven’t fully landed, but economists say they are coming.

“Consumers are seeing their way through the uncertainty with trade policies,” National Retail Federation Chief Economist Jack Kleinhenz said in a June prepared statement. “But I expect the inflation associated with tariffs to be felt later this year.”

If you want to get ahead of potential rising prices, here are a few things to look at now before they get more expensive later.

Major appliances, like washers and refrigerators

Turns out the tariff on imported steel and aluminum will specifically hit household appliances. As of June 23, the 50% tariff on steel extends to “steel derivative products,” which include fridges, freezers, washers, dryers, dishwashers, ovens and even garbage disposals.

If you’ve been thinking about upgrading an appliance, the time might be right to get something that was made before prices get higher, and while summer sales are still going on.

As for our purchase plan, we’re going to get a new washer and dryer soon because mildew is gross and economists foresee prices rising. Our local appliance store has the LG set we want in stock and on sale now.

Cars (especially EVs and luxury imports)

It was a crappy time to buy a car the past few years. Prices of both new and used cars ballooned after the pandemic. Then, the situation seemed to get better.

Case and point: I bought a brand new Honda Odyssey at several grand under sticker in November. I was shocked the dealer was willing to let me haggle that day. (Adding free all-weather mats was a non-starter though.) I also can’t believe how much I love driving a minivan (#babyonboard).

Now, a 25% tariff on imported passenger vehicles and auto parts could usher in a new era of crappiness in car buying, but there is time to get ahead of it.

“Experts expect tariffs to push car prices higher. We’ve seen a few manufacturers increase prices, but overall there haven’t been big increases. That’s expected to change though, as pre-tariff vehicles disappear,” says Shannon Bradley, NerdWallet’s authority on autos.

What make and model of car are you after, and where is it made?

Consultancy firm Anderson Economic Group has analyzed vehicles with the lowest and highest potential tariff impact to project cost increases to consumers.

Cars like the Toyota Camry Hybrid, Ford Explorer and my beloved Honda Odyssey are assembled in the U.S. and expected to be less impacted by tariffs than more luxurious foreign-made models. Prices of the cars mentioned are expected to increase by $2,000 to $3,000.

Another incentive to get a new ride has to do with President Trump’s “big, beautiful bill.”

The legislation adds a tax deduction for car loan interest, where taxpayers can write off up to $10,000 a year in interest paid on new cars assembled in the U.S. and purchased after Dec. 31, 2024.

If you’re on the other end of the spectrum, looking for something like a Mercedes-Benz G-Wagon, Land Rover, Range Rover or imported BMW model, there’s no tax deduction, and the tariff impact is expected to be greater. Like $10,000 to $12,000 greater, according to the Anderson Economic Group analysis.

If you want an electric vehicle, the clock is ticking.

“EV tax credits will be eliminated beginning with EVs purchased or leased after Sept. 30, 2025. If you want an EV, buy one before then,” says Bradley.

The new Tesla Model 3 and Ford F-150 Lightning are examples of EV models eligible for the $7,500 EV tax credit for now. Used EVs get a tax credit of $4,000, but that will also end Sept. 30 under the planned tax changes.

iPhones and Androids

The tariffs situation changes almost daily.

Right now, there is a baseline 10% across-the-board tariff on all imports. There’s also a 30% tariff on Chinese imports in effect, with the potentially higher reciprocal tariffs on China and other countries on pause until Aug. 1.

Something you may not know is smartphones (along with 19 other electronic items and/or components, including laptops) are exempt from tariffs for the time being. That could influence your decision to upgrade your phone now, if you need to.

Imported booze

Does the idea of adding $12k to the cost of a luxury car make you reach for a drink? If so, you may want to stock up on Scotch, South African wine, sake and other imported alcohol and put them in the cellar now.

Unless new trade agreements come together, tariffs of 50% for the European Union, 30% for South Africa and 25% for Japan are on the table come Aug. 1.

Please drink expensive booze slowly and sparingly.

Advice: Don’t let tariffs tweak you out

Whatever you do, don’t panic-buy a fridge or a Ford F-150 Lightning because you’re worried. Saving money on the sticker price of something you don’t need or can’t afford is silly. Instead, assess your current situation and decide if your budget allows for buying something big-ticket.

It may be worth it to hold on to your money now and take steps to save and prepare for the additional cost later.

Tommy Tindall writes for NerdWallet. Email: ttindall@nerdwallet.com.

The article Splurge Now, Save Later? 4 Things to Buy Before Prices Rise originally appeared on NerdWallet.

By Lauren Schwahn, NerdWallet

The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.

No, we’re not asking your name. And we promise we’re not trying to offend you.

HENRY isn’t an insult; it’s a nickname given to a certain demographic in the personal finance world. If you earn a decent income, but feel like you aren’t building enough wealth, you might be a HENRY.

What is a HENRY?

HENRY is an acronym that stands for “High Earner, Not Rich Yet.” But what does it mean to be high earning? The definition varies depending on who you ask.

We sifted through Reddit forums to get a pulse check on what users say about HENRYs. People post anonymously, so we cannot confirm their individual experiences or circumstances.

Over on Reddit in the r/HENRYfinance subreddit, HENRYs are defined as “people who earn high incomes, usually between $250,000 to $500,000, but have not saved or invested enough to be considered rich.”

Net worth is another key number to consider.

Trevor Ausen, a certified financial planner in Minneapolis, Minnesota, says that HENRYs often have “somewhere between negative net worth, thanks to student loans or early career costs, to around $1 million in assets.”

Having an income or net worth above these figures tips the scales toward “rich.”

Who is the typical HENRY?

HENRYs are often business professionals, doctors, lawyers or tech employees with equity compensation, Ausen says.

Many live in places like New York or the Bay Area, he adds, where it can be hard to accumulate wealth even with a high salary due to the high cost of living. They’re usually in their 20s, 30s or 40s.

In some cases, HENRYs are also the first in their families to earn a higher income. That can come with added pressure to provide financial support for relatives and create generational wealth.

How do you know if you’re a HENRY?

Now that you know what a HENRY is, let’s see if you fit the bill.

“If you’re earning well but still feel like you’re just getting by financially, you might be a HENRY,” Flavio Landivar, a CFP in Miami, Florida, said in an email interview.

You might be a HENRY if you:

• Earn an above-average income (typically in the low to mid six-figure range).
• Live in a high-cost area.
• Spend most of your income on costs such as housing, student loans, child care and discretionary expenses.
• Don’t feel financially secure.

But not all HENRYs are the same.

While many have trouble building wealth because student loans or living expenses eat up their income, others are saving aggressively, Ausen says.

“They’ve only been high earning for a short amount of time, and just have not had the time to really build up those assets and save enough where they can be considered rich,” he says.

Ausen says his HENRY clients generally have too much cash. After maxing out their 401(k)s or other retirement accounts, they aren’t putting their extra money to work in an investment account.

If you’re parking a lot of cash in a general savings or checking account, that’s a sign you might be a HENRY.

“While there certainly is an argument for how much emergency fund, essentially, someone should have, after a certain point, it starts to become not as efficient as it could be,” Ausen says.

What do HENRYs care about?

Like most people, HENRYs want more money and greater financial freedom. Online discussions in r/HENRYfinance and other forums often focus on lifestyle creep, career growth, investment options and strategies for minimizing tax burdens.

HENRYs are also looking for quick guidance and reassurance that they’re on the right track.

“These young professionals may be settling into their careers, gaining responsibilities and have less leisure time than they used to,” Yesenia Realejo, a CFP with Tobias Financial Advisors in Plantation, Florida, said in an email interview.

“They may be starting families, buying homes, saving for their children’s college. With so much on their plates, they may find that they’re saving, but have no planned financial direction.”

Is being a HENRY good or bad?

If you’re a HENRY, you may feel stuck. It might seem like you aren’t making enough progress toward your financial goals.

But it’s important to emphasize the “Y” in HENRY. You’re not rich yet — that doesn’t mean you’ll never be rich.

“With smart planning, managing expenses and focusing on long-term goals, HENRYs have a great opportunity to build real wealth down the road,” Landivar said.

“Without that focus, though, it’s easy to stay stuck living paycheck to paycheck despite a high income.”

Start by making, or revisiting, your financial plan. If you’re not sure where to begin, consider getting help from a financial advisor. Getting rich may happen sooner than you think.

More From NerdWallet

• Practical Ways to Tackle Overspending
• Where to Park Cash if You’re Worried about the Stock Market
• Here’s How I Made $360 Selling Stuff on Facebook Marketplace

Lauren Schwahn writes for NerdWallet. Email: lschwahn@nerdwallet.com. Twitter: @lauren_schwahn.

The article Are You a HENRY? originally appeared on NerdWallet.

A Reddit user recently asked for advice on ways to stop thinking about money nonstop.

It’s hard, the user explained, to avoid fixating on personal finances. Comparing yourself to others can be tempting, even though doing so doesn’t feel good or productive.

Other users jumped in to offer tips, such as talking to a therapist, finding a new hobby, scaling back on social media and saving enough for a sufficient safety net.

Financial experts say focusing on your own financial plan is the best way to avoid thinking too much about what other people might be doing.

Make a plan

“Something about having a plan in place takes a lot of the stress off,” says Dwayne Reinike, a certified financial planner and founder of Valiant Financial Planning in Kirkland, Washington.

Similar to how writing down everything on your to-do list can make it easier to sleep at night, he says creating a basic financial plan allows you to relax. That plan can include a budget, retirement goals and other savings targets.

You might hear that the markets are down or concerns about a coming recession, “but it’s OK, because you have a plan,” Reinike says.

Pick one goal to focus on

Picking one goal to focus on — such as saving up for a house or setting limits for spending — can give you a greater sense of control over your financial life, says Stephanie Loeffel, a CFP and founder of Ascend Financial in the Boston area.

If you don’t have a goal to guide you, she says, then it’s easy to bounce between different ideas based on the day’s news. If interest rates fall, you might wonder if you should buy a house. If the stock market fluctuates, you may question whether it’s time to shift your retirement investments.

She recommends zeroing in on what you can control: your own spending, saving and other financial habits.

“You take the emotion out of the equation and it’s easier to not obsess about the noise around you,” Loeffel says.

Designate a specific time to focus on money

Setting aside time at least once a year to map your financial plans can ease your mind the rest of the time.

Use that time to think about what you want to achieve with your money. You can also set short-term and long-term goals, says Reinike.

“If you have your emergency fund set up and on auto-deposit, then you can go a year or so without thinking about it,” he says. (You may want to conduct quick check-ins throughout the year to check for any errors.)

Similarly, a retirement savings account with automatic deposits from your paycheck doesn’t need to be constantly monitored.

If unexpected events pop up, such as a new baby or a job loss, then you can revisit those plans and adjust. Otherwise, you can maintain your current course.

“People tend to make changes when they’re really happy or really upset, and that’s not the time to make changes. It’s the time to stick with the plan you already established,” Reinike says.

Build up savings and pay off debt

Another way to gain more control over your finances is to double down on saving money and paying off debt, Loeffel says. Many of her clients are surprised about their expenses once they start tracking them.

Monitoring your cash flow for six months is a good place to start. Then, make adjustments to eventually achieve a goal of putting around 10% into savings. That can help build up an emergency fund.

“Once you have an emergency fund, you’re not as vulnerable,” Loeffel says.

That makes it easier to worry less about negative events that can hurt your finances.

“It takes away that emotional vulnerability because you have a cushion and you have control,” she says.

Similarly, paying off debt is something you can control. You can make a plan for paying off debt — perhaps using the avalanche or snowball method — then watch your progress as the weeks tick by, Loeffel says.

The avalanche method involves paying the debt with the highest interest rate first. The snowball method refers to building momentum by paying off the smallest debt balances first.

Avoid comparisons to others

“Compare yourself to the you of yesterday, not everyone else,” suggests Reinike.

Just as in sports, you should strive for a personal best — not necessarily doing better than others.

You really can’t compare your financial situation to others based on social media. Posts don’t tell the whole story or how people are funding their lifestyle, Reinikehe adds.

“Everyone’s journey is individualized.”

Reddit is an online forum where users share their thoughts in “threads” on various topics. The popular site includes plenty of discussion on financial subjects like saving and budgeting, so we sifted through Reddit forums to get a pulse check. People post anonymously, so we cannot confirm their individual experiences or circumstances.

Kimberly Palmer writes for NerdWallet. Email: kpalmer@nerdwallet.com. Twitter: @kimberlypalmer.

The article Asked on Reddit: How to Stop Obsessing About Money originally appeared on NerdWallet.