As the saying goes, Sharing is Caring, but in the new sharing economy, you can also make money by sharing your home, car, and more.
Sharing for money is a great way to get some extra cash, and you can also save money if you are willing to share more of your life with other people.
Check out this article for a variety of resources and ways to make extra income by renting out your stuff.
Rent Your Extra Room
If you have an extra room in your home or even a vacant couch, you can rent it out to travelers who are looking for a place to crash.
Airbnb can help you rent out unused space in your house for some extra cash.
This can be especially lucrative if you live in a prime tourist destination where many people want to visit.
Of course, you’ll have to deal with having strangers in your house, but if you’re the adventurous type and like meeting new people, this may be the perfect way to make new friends as well as some extra money.
Sign up through the Airbnb Referral Program to earn some bonus credits as well.
Rent Your Car
If you don’t use your car that often or you have an extra vehicle that just sits in the garage, you can rent your car out for money.
RelayRides connects renters and owners for person-to-person car rentals.
It’s easy to list your car online, and you’re in charge of who gets to rent your car, so you aren’t required to rent to anybody that you don’t trust.
You can meet the renter to hand them your keys and check their driver’s license before letting them get behind the wheel.
RelayRides provides their own insurance to keep your car safe, and they’ll also handle billing and roadside support for you.
Sign up through the RelayRides Referral Program to get extra driving credits toward your future rentals.
Loan Your Money
If you have extra money sitting in an Online Bank earning a measly 1% APY, then consider loaning out your money to earn higher interest rates.
Person-to-person lending networks like Lending Club and Prosper bring together borrowers and lenders for mutually beneficial loans.
Lenders can get higher interest rates than they would by letting their funds sit in a standard bank account, and borrowers can get lower interest rates on loans that they often couldn’t get from traditional lending institutions.
You can participate with as little an investment as you like, and you can choose your borrowers for the risk that you are willing to take.
Learn more about Peer Lending Networks to increase your interest rates on your savings.
How To Participate in the Sharing Economy
These are just a few ways to profit through sharing, but you can also save a ton of money when you share resources directly with strangers.
Check out Sharable’s Guide to Sharing for a comprehensive list of ways that you can share your life and save money.
They’ll show you how to save money when you share food, housing, child care, transportation, work, travel, education, and much more.
Start participating in the sharing economy to save money in your everyday life, plus earn some extra income when you rent out your stuff.