Sharing Economy: Why This is Growing in Popularity and Benefits All

If you haven’t heard of the sharing economy, I bet you will want to get involved after reading this. The sharing economy is a growing trend around the world. It’s based on the idea that there are many things we don’t use every day or even every week, and by sharing them with other people, we can reduce our costs while giving others access to items they might not otherwise have. In this article, I will explain the benefits and some examples of how you can use the sharing economy to make your life easier and reduce costs.

benefits of sharing economy

Some popular sharing economy examples

There are many sharing economy examples, but some of the most popular ones are:

1. Airbnb

If you’ve heard of Airbnb, then you know that it’s a website that allows people to rent out their homes for stays in other parts of the world. The idea behind Airbnb is that people worldwide have unused space in their homes, which they can use to earn money. In addition to providing travelers with affordable accommodations, Airbnb also gives homeowners in different countries opportunities to meet and learn from one another.

2. Uber

Uber, a ride-sharing app, was founded in 2009. It’s available in over 800 cities in 65 countries and 450 in the United States. Uber is also available in over 100 cities in Canada and 50 cities in Mexico. What makes Uber different from other ride-sharing apps like Lyft or Sidecar is that you can request a car using the app on your smartphone, which will be sent to pick you up by one of their drivers. In addition, you can pay for your ride through the app using either cash or a credit card once you arrive at your destination.

3. Shared parking

This is a great way to save money on parking. It’s a good option for people who live in cities and don’t have cars, but it can also work well for people who own cars and want to find more affordable long-term parking options. Here’s how shared parking works: You sign up with an app, and you use your app to find out which spots are available at a lot near you (lots offer different rates depending on the location). When you see one that fits your needs, you reserve it with your app and pay through the app. Then when you get there, swipe your card at the gate and go park!

4. Car-sharing

Car sharing is a great way to save money on car ownership. With the help of an app, you can rent a car by the hour, day or week—and you don’t even need to leave your apartment. Simply download a car-sharing app such as Zipcar or Car2Go and search for vehicles near your location. You’ll find cars in most big cities across North America and Europe. Multiple companies operate these programs, so they offer different models (sedans, SUVs) at different prices depending on how often you want to use them and how long you drive them each time.

If you are looking to reduce costs further, you can search for parking over a longer term. Daily parking is often much more expensive than booking monthly. For example, in Philadelphia monthly parking options are available from $100, whereas daily rates start at $2 an hour, so if you travel five days a week and park for 8 hours a day, that is a massive saving of around $220 a month.

What is the sharing economy?

The sharing economy is a model where individuals can rent or borrow assets owned by another person. It involves the sharing of things and services, not the ownership of them.

For example, Uber allows you to get a ride from someone driving their car as long as that person has been vetted by the company and passed a background check. It’s not about renting a car from Uber; it’s about meeting your transportation needs through a driver you trust. That’s what makes this model so appealing: By using services such as TaskRabbit (a website where people can find local help), Airbnb (where you can rent out your apartment when you’re out of town), or YouBike (which allows users to use bicycles for short trips around cities in China), customers can meet their needs without buying new items themselves. This means less waste and more sustainability!

What are the benefits of the sharing economy?

There are several benefits to the sharing economy, which include:

  • Reduced cost – You can save money on groceries and clothing by sharing an item rather than purchasing it yourself.
  • Reduced waste – Sharing items means less waste from unused or unwanted products thrown away yearly. In America alone, that is about $160 billion worth.
  • You have increased community engagement and trust.
  • Increased employment opportunities (especially in rural areas). Encouraging people who otherwise wouldn’t work outside their homes to get out there again help create jobs while also reducing stress levels overall within society at large!

How can I get involved with the sharing economy?

It can be a bit overwhelming if you’re new to the sharing economy. However, there are so many different ways you can get involved!

  • Share your resources – If you have extra space in your home, rent them on Airbnb or Turo. You could also rent out unused tools and furniture through websites like RentYourTools or Peerby. Renting out your parking space is another way to share resources.
  • Share others’ resources. By connecting people who need specific items with those who have them, services like SwapThing let users save money while reducing waste—a win-win! For example: If someone has an old phone but needs a new one, they can post an ad for their old smartphone; someone who needs a new device will then contact the original owner with details about how much they’d be willing to pay for it (or vice versa). This type of exchange might seem odd at first glance, but it actually makes a lot of sense when both parties benefit from finding each other instead of purchasing brand-new goods that go straight into landfills after only being used once or twice!
  • Share time/skills/knowledge/skills: Use sites like TaskRabbit where people post jobs that need doing around their house (elderly care – cleaning – gardening) etc., along with what they’d pay per hour/day etc. Then all interested parties bid on those jobs until someone gets hired…and paid accordingly!


I am excited to be part of a movement changing how we think about ownership. Sharing resources, we help save money, build community, reduce waste (of course), and build trust. I hope this list has inspired you to start thinking differently about your possessions—and maybe even try out some new ones!