5 ways using the share economy can make you money

Or help you save it!

Australians are a thrifty bunch. We’re always looking for ways we can make more money, or save more money. Younger generations are turning to unorthodox methods of making money, such as side hustles and digital endeavors, while other look for ways they can slash their grocery bills or sells their old and unused things.

In fact, the 2018 Gumtree Second Hand Economy report found that 90 per cent of Australians have purchased a secondhand item, and that 56 per cent of Australians have sold their secondhand items in the past year. Additionally, the NBN Side Hustle report also found that one in four Australians have started a side hustle online to bring in extra cash flow, and ASIC reports that the average Australian has a savings goal of $11,234. Another report published earlier in 2018 by The Sharing Hub stated that seven million Australians – that’s 36 per cent of us – have used the sharing economy to make and save money. A 2017 story by ABC found that 80,000 Australians drive for Uber, and 3.5 million of us use the service.

That’s a lot of Australians looking for ways to make more money, or save more money by turning towards non-traditional methods. Aside from the well-known heavy hitters such as Uber, Airbnb or Airtasker, here’s five ways using the share economy can be beneficial to both you and your wallet.

woman driving car
(Credit: Getty) (Credit: Getty)

1. Become a pet-sitter

Make money: Get paid to cuddle cats and dogs by signing up as a pet sitter on Mad Paws. Once you’re approved, you’ll be connected to pet owners looking for caring sitters to mind their pets when they can’t.

Save Money: For pet owners, Mad Paws pet-sitting is much cheaper than traditional kennels, and you can save hundreds of dollars if you’re on a week-long holiday.

2. Rent out your caravan

 Make Money: If you have a caravan taking up space in your driveway, sitting unused and empty, use it to make some money by renting it out on Camplify.

Save Money: Alternatively, book your next adventure with Camplify and save hundreds of dollars compared to other providers.

dog being walked
(Credit: Getty) (Credit: Getty)

3. Make money with your car

Make Money: Your car can pay for itself if you become a driver with rideshare platform Taxify, which reportedly earns better commission than Uber. You can also rent out your unused car with Car Next Door.

4. Hire out your fancy frocks

Make Money: If you’re the sort of person to buy a nw dress for every party, wedding and event, recoup some of your losses by hiring our your fancy threads to like-minded fashionista on The Volte.

Save Money: Why pay full RRP for a dress you’ll only wear once? Hire it!

5. Become a storage solution

Make Money: If you have a spare cupboard, garage or car park you can make up to $500 a month just by renting out the space to someone who needs some extra storage with Spacer.

woman holding american bank notes
(Credit: Getty) (Credit: Getty)

You might also like:

How to make money on Gumtree

How to make your savings work harder

Personal finance tips for young people

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