Sharing Economy: Current Trends You Probably Do Not Know

The sharing or peer economy is not a new concept, but it has survived the test of time. It has also shifted and transformed, with its potential increasing significantly each year. Yet, most people still potentially associate the sharing economy with ride-sharing applications, which, as it turns out, is only the tip of the iceberg. 

People are transforming their assets that were previously difficult to imagine as monetizable. While the general idea of certain sharing had been brewing inside of people’s minds for ages, you can now find actual companies specializing in such services. 

Why join the sharing economy

On the surface, the sharing economy provides additional income, a clear-cut motivation for joining. However, beyond the monetary advantage, one can argue that the sharing economy promotes a sustainable lifestyle, prevents you from hoarding items at home, and offers greater freedom to people who typically cannot access certain privileges or items. 

Notable examples from sharing economy providers

Besides the well-known market giants like Uber and Airbnb, we introduce some lesser-known examples of the sharing economy. 

Swapping or renting items 

Sometimes, you require one item for your home to perform a specific task, such as a pressure washer to get your terrace ready for summer. Your usual options are to buy the item for such rare use cases or rent it from official stores. However, options like Peerby make it easy to rent an item you need from others at a reasonable price. 

In addition to chore-related items, you can rent entertainment items, such as drones or a karaoke party set. If you have a wedding coming up, peer-to-peer rentals can also help you find the stuff you need. 

Sharing unused internet connectivity 

One untapped asset nearly everyone has at home is their internet connection. If you’re paying for unlimited access, your plan is likely rather costly. To make amends, you can share unused internet bandwidth with businesses and other respectable entities. Honeygain is one of the providers of this service, and it states that an unlimited plan is best if you’re ready to share. As soon as you start sharing, you start earning money, and no actions on your end are needed.

Sharing unused storage and parking spots

Some cities have a glaring parking or storage problem. Recognizing this need, platforms like Neighbor enable people seeking such services to connect with local providers. Usually, you can get a much more location-friendly spot for less than through other official options. 

Lending money to others

Keeping money in your sock or under the mattress is not the way to go. Besides diving into the investment world, you can also make it work by lending it to others. Multiple peer-to-peer lending platforms exist, and their purpose is to connect people with money to those in need. It could relate to entrepreneurs seeking loans to expand or start their businesses. 

As the lender, you get to choose which borrowers you would like to support, and you receive regular payments plus interest. So, not only are you making money, but your idle assets are helping make someone else’s dreams a reality. 

Offering medical advice and support 

Most of us have medical questions occasionally, and instead of turning to Google or booking a doctor’s visit, you could go the peer-to-peer route. Some platforms allow healthcare specialists to extend their reach beyond hospital patients. In this case, people can get consultations regarding their potential diagnoses. Of course, before using such a service, also verify that it properly vets its specialists and that you can count on them to be true experts in their fields.

Conclusion

The beauty of the sharing economy is that it can benefit you in two ways: either as the receiver or the giver. Hence, if you have unused or underused talents, items, assets, or opportunities, don’t let them go to waste (especially since they can help you earn additional money basically effortlessly).