Tracking multiple sources of income when you work for numerous apps, like Uber, Lyft, and DoorDash, can take time and can be confusing.
If you have significant financial goals but feel like they are not within your reach, consider Mymo, the first app for rideshare drivers, delivery, and gig workers to track income all in one place.
What Is Mymo?
Since most gig workers look for multiple ways to earn income, they often have numerous spreadsheets and financial documents, using up time they could use to work.
Mymo began in 2021 when the founders realized the gap in services provided for freelancers, such as gig workers and rideshare drivers. Dealing with multiple spreadsheets and other documents to track numerous gigs is confusing and takes away potential earnings.
Mymo targets the 70 million independent workers in the US, helping them set financial goals, and reach them by minimizing time spent on organizing their financials.
How Mymo Works
Typically, you’d have to juggle multiple apps to manage your earnings if you work for both. Instead, you can link them to Mymo and track your earned and upcoming income to plan your budget accordingly.
In addition, Mymo offers goal setting and tracking plus tax estimates and tracking. Both features are essential for gig workers, especially if you started rideshare driving, delivering, or other gig work to achieve specific goals such as building an emergency fund, saving for a vacation, or buying a house.
You can easily set up recurring goals, as either monthly or weekly targets, so you know exactly how much you need to earn to hit your recurring obligations.
You can see your progress in real-time and forecast your progress by looking at upcoming income.
- Your Money – This is the primary function of the Mymo app. This is where you link your gig apps, and Mymo automatically tracks income earned. You only have to link your gig apps once, and Mymo does the rest.
- Goal Setting – Goals are only as good as your progress. Setting goals is great, but the execution is what matters, and Mymo helps. You can specify multiple goals, track your progress, and modify them as needed. According to data from gig workers earnings in 2023, users who set a goal in Mymo earned 12% more on average.
- Tax Estimates: Mymo will estimate your taxes automatically as you earn, and keep track of your quarterly and annual estimated bills year-round. They also offer an AI Accountant who can answer tax questions in real-time.
- Track earned and upcoming income from multiple gigs
- Track all data in a single app, saving time and making it easier to stay organized
- Create, monitor, and reach financial goals
Privacy & Security
Mymo understands the importance of making the most of your time while keeping your financial information as secure as possible in today’s digital world.
It has made a strong commitment to customer privacy and security by incorporating bank-grade security protocols, such as multi-factor authentication and encryption of sensitive data in transit and at rest, throughout the application.
The company is SOC 2 compliant and is regularly audited by third-party entities to ensure it is properly handling customer data.
Pros and Cons
Understanding Mymo’s pros and cons can help you determine if it’s worth your time when managing your rideshare and gig app jobs.
As a gig worker, your time is money, so determining if the app is right for you is essential.
- Mymo helps rideshare drivers and gig workers increase income by up to 10%
- Easy set-up
- Free app
- It makes handling estimated taxes and tax payments easier
- Helpful goal-setting and tracking features to help you reach financial goals
- No mileage tracking option currently, but it may be added in Fall 2023
- Some linked apps expire, requiring you to sign in again to refresh the data
What Real Users Have to Say
Mymo is relatively new, so it’s not widely reviewed yet, but one user on iOS stated:
“Tracking multiple sources of flexible working income is hard. Mymo is really the first solution of its kind. Elegant and intuitive, I’m excited to see how the app evolves!”
Rideshare drivers and gig app workers have a lot to keep track of, and an app that tracks it all can help.
How Much Does It Cost to Use Mymo?
Mymo is free for gig workers and rideshare drivers. Getting set up takes only a few seconds, and you can save hours on organizing and managing your finances.
What Sets Mymo Apart From Other Apps Designed for Rideshare Professionals?
Mymo is the only app that allows income tracking from multiple sources in one place, along with tax planning and preparation. Users can track income, set goals, and properly plan for tax time, making being a rideshare driver or gig worker for multiple apps much simpler.
Should You Use Mymo?
Mymo is a helpful app for rideshare drivers and gig workers. It has the potential to help workers track income and reach financial goals.