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How to make money from the sharing economy

How to make money from the sharing economy

There’s never been an easier time to earn some extra income or even launch a side hustle.

Thanks to the fast-growing ‘sharing economy’, you can now market products to large numbers of people over the internet – quickly, easily and cheaply.

The idea is to make money from things that would otherwise go unused, such as vehicles, bedrooms, carports, garages, clothing, bikes and skis.

You can even capitalise on cash that’s sitting idly in your bank account or knowledge that’s going unused in your head.

The sharing economy allows people to earn a second income or begin their own home-based business.

How? Here are five ways you can cash in.

Make money with your home

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You can turn your home into a hotel with services like Airbnb, Short Term Stays, RoomORama and CampinmyGarden.

You can turn your home into a storage facility with Spacer – or even a commercial office with LiquidSpace.

You can also turn your home into a carpark with Parking Australia, Parkhound and Findacarpark.

If you have spare room and you love dogs, you can turn your home into a boarding kennel with DogVacay and Pawshake.

Make money with your vehicle

One way you can earn income from your car is to become a taxi driver with services like Uber and GoCatch.

You can also make some extra money by renting out your car through Car Next Door and DriveMyCar.

If you have a truck or van and you want to do some courier work on the side, you can register with uShip.

Make money with your possessions

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If you’ve got a bike, surfboard, stand-up paddleboard, snowboard or skis gathering dust at home, you can rent them out with Spinlister.

If you’re a woman with an overflowing closet, you can rent out spare items with Style Lend.

Make money with your knowledge

Anyone who can do computer-related jobs like writing, programing, translating and video editing can market their talents through sites like Fiverr and Freelancer.com.

Other options are to become an online tutor with Wyzant or create an online learning course with Udemy.

Make money with your money

Instead of putting your spare cash in a savings account or using it to buy shares, you can invest it through what are known as peer-to-peer lenders or lending marketplaces.

Services like Harmoney, Marketlend, RateSetter, SocietyOne and ThinCats allow you to earn interest by lending money to individuals and businesses.

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