People looking to make a quick buck are increasingly getting involved in the sharing economy — but it may not be as worthwhile as it sounds, a new analysis has. Joney Mustache. The anonymous man behind the website, who goes by Pete, retired at 30 and frequently gives advice about finances. He decided to become an Uber driver to see how much contractors for the company really make. However, after car costs such as gas and insurance and time spent driving around between picking up rides, Mr. He criticized the company for advertising gross earnings to drivers instead of net earnings. The cost of driving a personal car, according to the IRS, is about 54 cents per mile. At this rate, driving to pick up riders and waiting for them before a fare begins can be costly. Another ride, which included 15 minutes of waiting, uger minutes of driving, and 1. To be a polite rider, I suggest waiting at the curb in a convenient area for pickup. Economic Calendar Tax Withholding Calculator.