The sharing economy has gained quite a bit of attention for all the ways that it can help people save money. It allows you to utilize the possessions and talents of other people and spend quite a bit less than you would if you had to pay full price to buy it or do it yourself. What many people don’t realize is that the sharing economy can also help you make money. Here are 7 ways that you can earn extra cash with the sharing economy.

Rent out Your Extra Space

If you have more space than you’re using, why not let someone else pay you to use it? If you live in the city and have a designated parking space along with your apartment but you don’t have a car, why not offer the space for rent at a lower cost than someone would have to pay for use of a garage or other public parking space? 2-car garage but only have one car? Rent the other half of your garage to a neighbor that needs to stow a boat.

AirBnb

If you’ve got an extra room in your home, you can easily make quite a bit of money by offering it up on AirBnb or another sharing site. You can either maintain it as a guest room for when you have visitors and rent it out occasionally, or you can dedicate the space to earning money for you. Some people have managed to earn enough money through AirBnb to make a living.

Letgo

As more and more people are beginning to value experiences more and possessions less, the minimalist trend is growing. If you’re in the mood to purge your home of items you no longer need or use, try listing it on a site like Letgo. Someone out there may need what you have and would love to get a good deal on it. This also helps to prevent these items from ending up at a landfill or recycling center.

Uber or Lyft

There is a great debate about whether or not ride-sharing services are a good thing or not, but plenty of people seem to feel it’s not a bad way to earn some extra cash. People that live in areas where ride-sharing is in high demand can do very well. The two main players in the ride-sharing market are Uber and Lyft, but there are other options depending on where you live.

Rent out Yourself

If you have a skill set that may be in high demand, you can sign up for a site like Fiverr or Taskrabbit. These sites connect people that need help with certain tasks with people that can do them. If you’re an organizational wizard, you can help people that are packing to move. Handy with tools? One of your neighbors might need help installing a new dishwasher. These sites allow you the flexibility to earn extra cash when you have free time. 

List Your Car on a Sharing Site

If you’re someone who has been working remotely from home, you might not be driving your car more than once or twice a week for quick trips. Why not put the car to work earning money for you instead of sitting in your garage. You can easily rent the use of your vehicle out to local residents that need a rental car, but don’t want to pay the excessive costs to a rental agency. Sharing sites like Getaround can help you get started.

Rent our Your Stuff

You can also earn some fast cash by renting out equipment that you already own. If you have a sturdy extension ladder that you only use a few times a year to clean your gutters, why not let your neighbors borrow it for a small fee. This way, they get the benefit of the ladder, without having to invest in one themselves. Lawnmowers, hedge trimmers, and other things are frequently listed (or asked for) on apps like Nextdoor.

The sharing economy has opened up the possibilities for new ways to both save and earn money. Look around and see what you might have available to put these apps and services to work earning you fast cash.

Sarah Kearns is a hard working mother of three daughters. She is a part of the team behind Parkhound – a place where you can find cheap parking spots. She loves cooking, reading history books and writing about green living.