This post may contain affiliate links, allowing us to earn a commission on the products we would recommend to our families and closest friends. You can find more info on our Legal Stuff page.

Today’s post comes courtesy of S&S reader, Sienna Walker.

Sienna is an avid blogger and writer, deeply interested in smart ways for earning some additional money. She is also a huge fan of self-improvement, and whenever not working on some side hustles, she might be found online, participating in online courses or listening to motivational speeches. Feel free to say “hello” to Sienna @SiennaWalkerS.

Do you have a post or topic to contribute? Contact Us! We love hearing from you.

Sharing is…Making Money? 5 Tips to Earn Money in The Sharing Economy

We’ve all heard the phrase “sharing is caring”. But what if sharing could help you make some extra money? It’s perfectly possible if you embrace the sharing economy.

What is the Sharing Economy?

The sharing economy is predicted to grow to $335 billion by 2025. That’s a big pie you could be getting a piece of. All you need is a good internet connection, some online know-how, and a resource or skill that you’re willing to share.

Through renting out your underutilized assets or providing a handy service to local people, you could be making additional money. That’s money you could use to pay off debts, save a little for your future or just live a better quality of life in the here and now.

What’s more, working in the sharing economy can be a really rewarding way to make money, beyond the financial sense of the word.

What are the Benefits of the Sharing Economy?

There are lots of benefits to earning money through the sharing economy.

Flexibility: When you take part in the sharing economy you work when it suits you. And you take time off when it suits you. It’s not like taking on a part-time job where your employer dictates your hours.

Giving Back to Your Community: Working as part of the sharing economy means you’ll often be doing something you can be proud of. By sharing your resources, you’re helping out your community as well as earning a bit of extra cash.

Kind to the Environment: Sharing and renting resources, like your car or your computer, is kinder to the environment than everyone owning these objects outright. Sharing things means less manufacturing and fewer obsolete items thrown away.

It Can Be An Easy Way to Earn: Because you’re sharing resources that you already have, you could be making money from doing very little.

So how can you make the sharing economy work for you?

 

5 Tips for Earning Additional Money in the Sharing Economy

Here are 5 tips for earning additional money from a sharing economy side gig.

1. Rent Out a Room

Airbnb has made it easier than ever to make money from unused rooms in your home. You just upload photos and a description to the site and start taking bookings.

You can choose when your room is available. Going away or need a break from guests for a while? Just mark your room as unavailable until you’re happy to welcome someone new to your pad.

The more unusual or beautiful your home, the more likely you are to get top money from your rentals. But city center properties near top city attractions or homes near big events venues also prove popular.

You can build up your positive reviews by providing a comfortable stay for your guests and offering excellent customer service throughout the booking process and beyond. And the better your reviews, the more bookings you’re likely to get going forward.

2. Rent Out Space Around Your Home

It’s not just your spare bedroom that people would like to rent. Any extra space you have around the house can be monetized.

Sites like Just Park allow you to advertise and rent out your driveway for parking. If you live in a commuter belt or within reach of a big city attraction, there could be plenty of people looking for an easy and affordable place to leave their car.

In addition, any extra storage space you have can be advertised on a site like Stashbee. Your empty garage or attic or basement could be used to store items for someone without storage space themselves.

And there are even more possibilities. Your home office or workshop could be just what a freelancer is looking for. In a time when millennials are struggling to afford their own homes, there’s nothing to lose by advertising your space online.

3. Make Money From Your Car

The obvious sharing economy choice for car owners and drivers is Uber. Sign up as a driver, go through Uber’s registration process, and make money as a taxi service around your local area.

But it’s also possible to make money from your car with much less effort on your part. Services like RelayRides and Getaround allow car owners to share their vehicle with others.

You control the price and availability, and you get to decide who you rent to. The company provides all the relevant insurance. Then people needing a ride can come to your driveway and pick up the keys.

Most companies only accept newer models of car. But head online to see if your car fits their requirements.

4. Rent Your Belongings

Everybody has stuff lying around the house that they only use from time to time. The skis that you haven’t used since that vacation back in 2016. The baby carrier you only use for long hikes. The guitar gathering dust in the spare room.

These items – the kind that you don’t use that often but that you don’t want to sell – can be rented out. Sites like Fat Llama and Spinlister allow you to rent out sports equipment, electronics, musical instruments, even campers.

Set a daily rate, agree your rentals, and make money from things that you won’t miss for a week or two.

5. Offer a Service

There are plenty of online marketplaces, giving side-giggers a platform to advertise their services. You can sign up to DoorDash and provide food deliveries to people in your community. You can also sign up to a site like Fiverr or TaskRabbit, and find freelance jobs to take on.

Whatever your skills – plumbing, administration, cleaning, DIY, flat-pack furniture making – there’ll be someone out there looking for a helping hand.

When you know where to look, you’ll find there are countless opportunities for making additional money through the sharing economy. The World Wide Web is doing a great job of connecting people, allowing us to share our resources and our skills. And helping us to boost our incomes in the process.

Think about the resources or skills you have – a house, a car, carpentry knowledge, a surfboard! – and search online to find platforms that will help you to advertise, rent, and sell them. Your bank balance could soon be looking healthier and happier, all thanks to the sharing economy.