The Clark Howard Podcast 02.12.25 Finding A Side Gig / Finances: Teach Your Children Well
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Feb 12, 2025 Learn about the booming trend of side gigs as many look for extra income, along with tips to recognize scams and understand tax implications. Explore the critical gap in financial education for kids and ways to equip them with essential money skills. There's also a discussion on managing aging parents' healthcare and the complexities of high-mileage vehicle repairs. Plus, get insights on navigating rising life insurance premiums and the importance of improving credit health before applying for new credit.
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Gig Work Scams
- Be cautious of gig work scams involving fake apps and inflated income promises.
- Verify app legitimacy and manage expectations regarding potential earnings.
Uber Eats Experience
- Clark Howard's son drives for Uber Eats but can't be an Uber driver due to insurance restrictions.
- He's learning which jobs are lucrative and which aren't.
Reporting App Income
- Report income from apps like Cash App, Venmo, or PayPal, even if it's not from work, if over $5,000.
- Use tax software to "back out" non-earned income to avoid paying taxes on it.