The shar­ing econ­omy

The Cairns Post - - NEWS - AN­THONY KEANE

In this week’s Mon­eySaverHQ, trav­ellers are turn­ing to the shar­ing econ­omy rather than credit cards and other debt to fund their over­seas ad­ven­tures.

TRAV­ELLERS are turn­ing to the shar­ing econ­omy rather than credit cards and other debt to fund their over­seas ad­ven­tures.

A sur­vey by Uber has found that one in five of its driv­ers are us­ing the money they earn to save for hol­i­days.

James Spruce, 23, is among them and his Uber in­come has helped pay for trips to Ja­pan and planned travel to Europe.

He started earn­ing money through Uber in late 2016 and now drives up to 40 hours a week on top of part-time work at a ho­tel.

“I was com­ing out of a univer­sity de­gree and had more spare time. The flex­i­ble work is the most at­trac­tive thing about the job,” Mr Spruce said.

Uber doesn’t re­lease av­er­age driver earn­ings, but Mr Spruce said he could earn $90-$100 a day by fo­cus­ing on the 7.30am9.30am morn­ing rush, plus good in­come on Fri­day nights and week­ends.

“It can get pretty dif­fi­cult at tax time but in com­par­i­son to putting it on a credit card, it’s def­i­nitely a bet­ter method be­cause you are get­ting solid earn­ings even though some has to be con­trib­uted to­wards tax.”

Uber head of cities Harry Greenacre said low wages growth in Aus­tralia had prompted peo­ple to find new ways to save money.

“Aussies have al­ways loved travel, and with the flex­i­bil­ity of the shar­ing econ­omy it’s eas­ier than ever to take that over­seas hol­i­day and ar­rive home with­out the worry of debt and credit card in­ter­est,” he said.

Uber driver ac­cred­i­ta­tion and set-up costs vary be­tween states, start­ing at one week and less than $100 in NSW.

REVVED: James Spruce drives for Uber up to 40 hours a week to save money for hol­i­days and travel. Pic­ture: AAP/LISA WILLIAMS

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