Could the sharing economy help you face the 2022 cost of living hike? With Fuel price hikes, inflation and an increase in National insurance contributions all over the news the cost of living is set to rise this year but the same might not be true for your income.

If there’s one thing we’ve learned over the last couple of years, having multiple income streams can be a smart move.

While selling on things gathering dust, a scarcely used bike or an old phone on eBay, or clothes that don’t fit anymore on Depop, are a great way to make a quick bit of cash, once it’s gone, it’s gone. Sellers remorse anyone?

And what about the things you don’t use often but you don’t want to resell? That’s where the sharing economy comes in.
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What is the sharing economy? ‍

It’s all about access over ownership - you probably already do it - Airbnb anyone?

Renting out things you already own to other people might just be the easiest side hustle there is.

Starting with the biggy - Airbnb. If you can vacate your place to stay with friends or fam this is an easy way to make some bigger bucks fast.

Got a car? Did you know the average car is parked 94% of the time. Look out Zipcar, Karshare let’s you rent out your own vehicle using their app.

Whatever your camping vibe, solo adventure or festival fun Tentshare can hook you up with people looking to rent your tent. Got a home from home on wheels? Camptoo let’s you rent the #vanlife dream.

Is your wardrobe busting at the seams? Fashion rental is hot in the heels of fashion resale as a side hustle for fashion lovers. Rent clothes out without having to kiss them goodbye for good - no more resellers remorse. And it’s not all dresses and designer handbags. LOANHOOD (that’s us) is a free app that lets you rent the clothes you own to a sustainably minded community. We’re seeing vintage clothes, unique upcycled fashion alongside designer and high street finds.

Want to know how much money you could make from your wardrobe? Try our fashion rental calculator.

And for just about everything else from standup paddle boards to drones try Rent My or Fat llama (particularly for photography equipment).

Basically if you own it you can rent it out through the new crop of peer to peer (or people to people) rental platforms.

And the flip side of the sharing economy; you can rent clothes, bikes, cars, candyfloss machines - pretty much anything for a fraction of the cost of buying it new and guess what else? It’s a low carbon option too, so it’s better for the environment.