6 Ways to Save and Earn Money by Sharing Renting is convenient, frees you from the ownership burden and can save you tons of money

Sharing economy has brought about a major shift in ownership attitude. Wherever possible, people, especially young workers, are opting for renting over buying. From furniture to work space to clothes, there's a rental alternative available for most things.

Renting is convenient, frees you from the ownership burden and can save you tons of money. Entrepreneur India tells you six ways in which you can save and also earn money.

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Co-Working Space

At the start of your business, you want to direct all the available money towards your venture. Working out of a shared working space or co-working space can help in this regard.

You not only save on the humongous costs of setting up an office but also on operational expenses like rent/lease, pantry staff, electricity and water bills and internet, among other things.

Also Read: How to Start a Co-Working Space

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Car

You can earn by listing your car on a carpooling service like rPool by redBus. The idea is to offer rides to passengers who are traveling in the same route of your workplace. On the flipside, you can also avail of carpooling service being offered by someone and save as much as 50 per cent on a shared cab fare.

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Furniture

Startups like Rentomojo, Fabrento and Furlenco rent furniture and appliances in return of fixed monthly fees. For working professionals who have to move cities frequently or young workers who do not have disposable income, renting furniture makes more economical sense.

Renting also works out more economical than buying on EMIs and saves you from relocation costs of INR 30, 000-60,000 every time you have to move cities due to work.

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Clothes

For the fashion enthusiasts who have to shell out thousands on clothes and accessories every month to keep their wardrobe updated, fashion rental like Clothing Rental, Flyrobe and Rent It Bae can come to their rescue. These startups rent clothes for a period of 3-6 days at 20-30 per cent of the garment's price.

While Flyrobe and Rent it Bae mostly rent ethnics, you can find western clothes and accessories on The Clothing Rental.

You can also enlist your own clothes on these platforms and earn up to 9 per cent on the dress's price.

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House

If you have spare space in your house, you can monetize it be listing on AirBnb. It doesn't matter if you have a single room or an entire floor to spare, you can let out as much space as you want for period of one to 30 days.

Depending on the location of your property, you can easily earn between INR 800-2,000 per night for a single room. Other platforms like TripAdvisor and Goibibo also allow homestays to list.

Also Read: How to Start a Homestay Business

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Ridesharing

This is different than carpooling. Most cab aggregators offer a sharing option of riding on their platforms. Our research shows that a shared ride can save you 35-40 per cent on private ride fares.

Yes, a shared ride can take some extra travel time but can also help substantially if cab is your only mode of daily commute.