Collaborative consumption may not be a new concept, but it is certainly one that has gotten a lot of attention in the past few years.
In a country where buying and owning have long been a benchmark of financial success, exchanging goods and services could be considered by some as the ugly duckling among the swans. Advocates of the sharing economy, however, think it’s the other way around. They see tremendous advantages to the system. And judging by the increasing number of participants, there is clearly something to be said for it.
Making Money While Helping Others
Most people who are involved in the sharing economy do so because it makes sound financial sense to put items to better use. If you own a car but only use it four days out of the week, why not use some of those other days to rent it out? The extra income can help offset ownership costs such as maintenance and insurance, with the added bonus of helping someone who doesn’t own a car but still occasionally has need of one. It’s a win-win situation with positive benefits that go beyond the bargain. And collaborative consumption makes arrangements like this easy and convenient as well as profitable.
Fits Well with Changing Lifestyles
Priorities have changed drastically in the last few years for many people. There has been a marked decrease in casual spending and an emphasis on budgeting and cutting back. The sharing economy is perfect for these new habits. Instead of renting a power tool you may only need twice a year, you can borrow one instead. In return, you may offer up loaning anything from a sewing machine to a musical instrument. Or instead of loaning an object, you may exchange goods for services. In exchange for using the power tool, you may make a professional quality birthday cake. Unlike buying and renting, which require money, sharing is flexible and leaves a lot of room for negotiation.
Reduces Haste and Waste
Decreasing spending isn’t all about money. It’s part of a bigger picture that involves not being a slave to what is owned. It is all too easy to buy and buy until one day the possessions own the person instead of the person owning them. Too many things cost more than just money: they take up space and time as well. And while the minimalist movement is neither the originator nor the cause of the sharing economy, there is an obvious desire in many people to have less and reduce their environmental impact.
Fosters New Experiences
A secondary benefit of collaborative consumption is that it allows people who otherwise probably would never have met to come together for a common good. Participants get to explore new areas, meet new people, and possibly make new friends. It offers the chance to learn and teach: to find common ground while exploring new territory. Whether it’s down the street or the next town over, people are able to reach out and touch someone else’s life. For many in the sharing economy, making a difference is the greatest gift.
Harrison L. is a bonsai tree enthusiast and blogger. On his blog, Bonsai Tree Gardener – The #1 Guide To Bonsai Trees, he offers detailed advice on how to take care of your own Japanese Bonsai Trees and more.
