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Sharing Economy: Maximising Your Income

Researching Balloon Payments and Finance Deals

Who doesn’t love a great deal?

We all love the idea of maximising our income. With today’s myriad of technology based around share economy, it’s a lot easier than it’s ever been. Heard of ‘share economy’ before? Here’s the rundown:

What is the share economy?

It sounds like a complex term out of a business textbook, but it’s a really simple concept. Share economy is a social-economic system built around the shared distribution of both human and physical resources. Rather than purchasing a product or a service, share economists acquire it for a lower cost through a fellow community member, or vice versa. Share economy exchange can involve swapping, sharing, exchanging, collective purchasing, collaborative consumption, shared ownership, renting, borrowing, lending, social media, crowd-funding, crowdsourcing, user generated content, and much more!

We’ll tell you a secret: you’ve probably been involved in share economy without even knowing it.

You’ve probably heard of Apps like Uber and AirBnB. These popular applications are successful examples of how share economy works. Rather than paying top dollar for a holiday rental through a chain hotel, AirBnB allows users to rent accommodation through their fellow community members. Similarly, Uber allows users to save money on taxi transport: instead, you can hitch a ride with a local for a reduced rate.

Share economy is a fantastic way to save money & even earn extra.

Dreaming of escaping the office for a holiday? Why not check out AirBnB or arrange a house-swap? You can avoid the typically high costs of hotel rooms, and even make a little money if someone rents your home while you’re away. If you’re lucky enough to own a second home in a popular area, look into advertising on AirBnB rather than through a traditional property service.

Do you have a crafty hobby? Sites like Etsy are designed for community members to sell to fellow members without going through a third party.

Got a little spare time? Why not sign up to be an Uber driver? Uber is legal in several states across Australia: look into the legislation before you get on the roads.

With the ongoing growth of the Internet and the ease of which we can make transactions, the sharing economy is booming. Take advantage to ensure you’re not losing out on great deals or potential income!

Would you like to learn other great ways to save money? Check out some of our other blogs such as how to eat healthy on a budget or holiday budget hacks.

If you need help budgeting or making the most of your income feel free to contact us.

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