Be dressed for suc­cess with shar­ing econ­omy

Warwick Daily News - - MONEY SAVER - ELISSA DO­HERTY

SAVVY savers can turn a tidy profit dur­ing the sum­mer hol­i­days by tap­ping into the shar­ing econ­omy – and they barely need to lift a fin­ger.

De­mand heats up for peerto-peer ser­vices such as car and camper­van leas­ing, party clothes, ac­com­mo­da­tion and pet sit­ting dur­ing the sum­mer sea­son, paving the way for peo­ple to turn their break into a lu­cra­tive money-spin­ner.

The Shar­ing Hub – a shar­ing econ­omy ac­cel­er­a­tor that hosts sites in­clud­ing The Volte, Mad Paws, Spacer, Air­tasker and Cam­plify – says users can earn up to 60 per cent more be­tween De­cem­ber and Fe­bru­ary. A new sur­vey of the hub’s users found nearly one in 10 had earned more than $2500 in a sin­gle month in 2018, with most us­ing the dif­fer­ent plat­forms as a way to sup­ple­ment their in­come.

It found 30 per cent had earned $100-$500 in a month, 19 per cent un­der $100, 18 per cent be­tween $500 and $1000, and 20 per cent be­tween $1000 and $20,000.

Kym Atkins, the CEO of de­signer dress-leas­ing busi­ness The Volte, said some peo­ple had even turned their peer-topeer

hir­ing ser­vice into a full­time ca­reer. The Volte has about 1500 lenders, with one find­ing it so suc­cess­ful she set up her own busi­ness, and an­other earn­ing $250 each time she hired out a Zim­mer­man dress.

“I think, cul­tur­ally, there has been a big shift in how

peo­ple think now … they want con­ve­nience, flex­i­bil­ity, ser­vices on de­mand,” Ms Atkins said.

“With the shar­ing econ­omy you can do more with less, and make some pretty handy ex­tra money, es­pe­cially over sum­mer.

“One of my friends makes up to $600 a week on Mad Paws just by mind­ing peo­ple’s an­i­mals, but one of the big­gest dol­lar earn­ers is camper­vans.”

Ms Atkins said users should seek in­de­pen­dent tax ad­vice when earn­ing ex­tra in­come through shar­ing sites.

Odd jobs web­site Air­tasker, which boasts more than 1.8 mil­lion mem­bers, said its high­est-earn­ing Air­tasker made $171,000 dur­ing 2017, while an­other mem­ber raked in $34,500 in a sin­gle month. The most pop­u­lar tasks in­clude clean­ing, gar­den­ing, and re­moval ser­vices.

Airbnb’s coun­try man­ager for Aus­tralia and New Zealand, Sam McDon­agh, said the typ­i­cal Airbnb host in Aus­tralia earned $110 a week or $5700 a year in ex­tra in­come.

“With the cost of liv­ing high and wages growth flat, more work­ing fam­i­lies are turn­ing to home shar­ing to earn ex­tra in­come,” he said.

Pic­ture: Tris­tan Jud

FASH­ION FOR­WARD: Kym Atkins, CEO of The Volte, which leases de­signer dresses.

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