6 Ways The Sharing Economy Will Help You Earn Extra Cash

As much as it sucks to admit, there’s no such thing as a get-rich-quick scheme: you can’t become a millionaire overnight without putting in at least a little bit of effort (although Chewbacca Mom might beg to differ). But the average Aussie has learnt to hustle, and embraced ways to improve their income by doing next to nothing. It sounds like a scam, we know. But don’t worry, it’s legit.

We’re all about the side hustle here at The Cusp, but now we’re starting to dig into something a little different. It’s called the Sharing Economy, and it’s all about sharing resources with the people around you, whether that be ride-sharing, room sharing or idea sharing.

Take AirBnB as an example: we can now share an apartment in NYC, and return the favour by renting our spare bedroom back home to a travelling backpacker. The Sharing Economy is offering people a cheaper, simpler and more accessible solution to their needs. Similarly, it’s also providing suppliers with an easy way of making a little extra dough through assets they already own – so really, everyone wins.

Whether you’re benefiting as a consumer or supplier, there’s a bunch of ways everyday Aussies can be profiting from the humble marketplace that is the Sharing Economy.

If you’ve got: Space

Try Spacer, an online marketplace where people with extra space can connect with renters who need space in their neighbourhood. The term “space” is pretty broad here: it can relate to a spare room, an empty garage or driveway, a car space or even secure storage spaces. Little do you know there’s someone out there who wants to store their car/extra furniture/office docs in your extra space.


There’s benefits for renters, too: Spacer is a hell of a lot cheaper than renting out a space on your own accord – they say you’ll be saving up to 50% on commercial storage space solutions, and you’ll even be able to find something close to home.

If you’ve got: A particular set of skills

Airtasker is a community marketplace for people and businesses to outsource tasks, find local services or hire flexible staff quickly. As someone with a few sick skillz, you could be picking up extra dough just by helping people out for the afternoon. Tasks like cleaning, baby sitting, transcribing, garden maintenance, moving furniture and web design all need to be filled, with prices starting at $20, all the way up to $2000. Got a free afternoon? Put those skills to good use.

If you’ve got: Tools

If you’ve got a lawn mower, barbecue, high pressure hose, camping gear or electronics lying around that you barely ever use, you can actually rent these out using Open Shed. Not a typical business transaction in the typical sense, Open Shed is more like neighbour-to-neighbour sharing, where people in need of a specific tool can contact someone in their area and rent it out for the weekend. So the next time you look at that hedge trimmer in your garage and bemoan the fact that you only use it twice a year (at that!) this might just be the solution.

If you’ve got: Excellent puppy minding skills

Give Mad Paws or Find A Dog Minder a go if you enjoy being surrounded by adorable dogs all day – and ah, who wouldn’t?


Oh hey there buddy.

Both these online services connect pet owners with pet sitters in their area who will mind their pets when they’re away. If you’re an animal lover, this one just makes sense – you can effectively make money for doing something that you love. On average you might make around $25 to $35 a night, but what you charge is entirely up to you.

If you’ve got: A car you’re not using

Car Next Door is a peer-to-peer car sharing platform that lets users rent out their car to other people in the neighbourhood when they’re not using it. For consumers, it’s a great way to gain access to a vehicle for a short period of time, like if you need to run errands or hop over to Ikea for the afternoon. Instead of hitting up those big (and expensive) rental car companies, Car Next Door offers you a local car in your neighbourhood, and for cheap too (it’s about $5 for an hour or $25 for the day). On the other hand, for the supplier who owns the car that sits idle in your garage during the week, you can list your vehicle, set the price and availability and let someone else use it while you reap the monetary benefits. It’s genius.

If you’ve got: An awesome backyard

You’ve heard about Airbnb, but what about Home Camp? Home Camp is a little like the Airbnb of backyards – if you’ve got a decent sized backyard, you can share your lawn with travellers seeking a place to pitch their tent for the night.


Unique private lands are a dime a dozen so people looking to get out into nature will pay a good buck to enjoy the peace of private natural areas. While the amount you choose to charge for your lawn is dependant on space and facilities, you could be making around $30 to $50 a night.

Want to start saving?

Open a Westpac savings account to take control of your money.

Find Out More