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There is no legitimate way in which you can become rich overnight without any effort involved. However, you can certainly look out for ways in which you can have a second source of income to help you achieve your financial goals.

A lot of these second source income streams come from sharing resources, or better known as the Sharing Economy, it involves sharing resources among people, be it sharing your ideas, talents, room or even a ride!

If you consider the example of Airbnb, where you can rent homes at any corner of the world and in return, you can rent out a spare bedroom in your house to any tourist. By leveraging on sharing economy, people are able to access services and facilities at much cheaper prices without a highly commercial angle involved to it. This way, it is also encouraging for suppliers as they can earn by renting out a few of their assets when they are not using them.

Irrespective of whether you are a supplier or a customer, Aussies can benefit to a great extent by being part of the Sharing Economy. We bring to you a list of six methods in which you can earn parallel income by leveraging on sharing economy.

  1. People renting out space

You can use Spacer to rent out extra space for those who are looking out for the same. Spacer is an online marketplace and it allows you to rent out any space: be it a spare room, a driveway, storage space or a car park. If you have some space available at your home, you can rent it out and you will have a steady income source without any hassles.

For renters, it is highly beneficial as you will not have to rent a full-fledged space for your temporary needs and go through all the procedures. There are high chances that you will be able to find spaces next door!


  1. For Freelancers

If you are planning to hire flexible staff, local services or any freelancers to get your work done quickly, you can try Airtasker, where you can hire people. Also, if you have skills that you think can get you earning, you can offer your services: be it transcribing, gardening or web designing, you will be able to sell it here! The prices start for as low as $20 and go all the way up to $2,000.

Why wait? Sign up now!


  1. For Athletes and Coaches

If you love sports, Coachable is one of the best community marketplaces. If you are sports coach or an experienced athlete, you can provide private coaching services by signing up with Coachable. Athletes and parents of athletes who are looking for coaches in any sport can look into the profiles of various coaches listed and then book and schedule a time by paying the coaches session fees.

There are highly experienced and talented coaches available for hire on Coachable. Also, many skilled athletes find it a great option to sign up on Coachable and continue with their passion towards a sport. By using Coachable, coaches can connect with the athletes in their sport and coach them 1-on-1; while still making a decent amount of money as their parallel income source.

The coaching available on ranges from $50 to $250 per hour based on the coach.


  1. For people renting out tools

Suppose you have tools and equipment such as camping gear, electronics, barbecue, lawn mower etc. that you do not use frequently, you can list them on Open Shed to rent it out. Open Shed is not a commercial model and you can consider it to be more of a sharing model between neighbors. If you are looking for a tool, you can search for its availability in your vicinity. If you have a tool that you rarely use, you can list it on Open Shed and it might prove to be useful to your neighbor!

Suppose you have brilliant babysitting skills. You can list it and this way, you can babysit for a while and earn a few dollars, while enjoying your time with a cute little toddler!

This way, you can connect with a parent and be of some help, while you end up having a good time and earning from it as well. What you charge is totally up to you and you can quote any price that you consider is suitable.


  1. For car owners who drive rarely

Share your car with peers or rent a car from your peers when it is not in use. Car Next Door allows you to rent your car for a short span, and it might be of great use to some other person, who would need a car to run a few errands but would not turn to a car rental company owing to the high costs involved. Cars listed on Car Next Door are available for as cheap as $5 for an hour or $25 for a day and it also benefits the owner as they will be able to earn a few dollars by leveraging on their car that is lying idle in the car park during weekdays. It is a great idea that helps people both from the convenience perspective and from the monetary aspect.


  1. For people who have spare items

Fat Lama is a peer-to-peer rental marketplace which allows people to rent spare items to others nearby, fully insured. The platform provides a cheaper and more efficient solution than buying outright or hiring from rental shops. At the same time, it allows others to monetise their rarely-used possessions – a sort of ‘Airbnb’ for stuff!

Their mission is to enable people to share and monetise their unused possessions, increasing the efficiency of both the consumer and the planet’s resources.


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