How to Make Money Out of Stuff You Already Have

We’d all love to get paid more, but trying to convince your boss you deserve a pay rise can be like teaching a dog Chinese.

So why not take matters into your own hands?

Digital disrupters help you to channel your inner hustler and make money out of stuff you already have. Here are five ways to give yourself a pay rise.

Get on Airbnb

Renting out a spare room or even your whole place on Airbnb can make you a mint, particularly if you’re lucky enough to have a reasonable house in a decent area.

It’s a short-term agreement, which means people are often willing to pay above rental market rates to stay, and because no one’s forcing you to be a host, you also have the flexibility to offer a bed to mum and dad when they’re in town.

Rates increase during peak seasons too, which means it’s quite possible to pay for your own holiday by renting out your place to a group of German backpackers here for a good time, not a long time.

hire bed

Ballpark Earnings: Bedroom in Marrickville, $75/night

Rent out your car…

If you have a car, then you’re used to haemorrhaging money out of the exhaust pipe. But it’s possible to stem the bleeding.

If you don’t drive to work, chances are your car just sits at home for most of its life, quietly shedding its value.

Car Next Door and Drive My Car are two services that allow people to rent out your car when you’re not using it, offsetting that depreciation.

If you’re really keen, you could even consider moonlighting (or sunshining) as an uberX driver to make some extra money on the side.

And if you live close to shops and public transport, why not sell your car and start catching the bus? It’s a pay rise and a bonus all in one.

hire car

Ballpark Earnings: 2006 Toyota Yaris in Newtown, $40/day

… And your car space

Got a car space you’re not using? Why not rent it out?

Someone could be willing to pay top dollar to plonk their money-guzzling, earth-polluting hunk of sculpted aluminium in your small rectangular gold mine, particularly if it’s secure and close to a city or transport hub.

Parkhound is the Airbnb of parking spaces, and lets you list your space, set price and availability and take bookings, all from a handy app.

Of course, you could just keep using that space to store a load of poorly put together Ikea furniture, a couple of boxes of old shoes and some dusty camping equipment. It’s your call.

car park

Ballpark Earnings: Kensington car park, $10/day

Hell, while you’re at it, rent out your backyard

As Joe Hockey has pointed out, global tech giants like Uber and Airbnb are ‘digitally disrupting’ our economy.

And the latest industry in the digital firing line is… camping. That’s right, camping.

HomeCamp is a new service that’s taking on the beloved Aussie tradition of drinking tins of VB outside.

It lets you rent out your outdoor space to any dreadlocked, guitar-strumming group of wanderers that takes your fancy. And yes, as you’re probably getting sick of hearing, it’s the Airbnb of camping.

home camp

Ballpark Earnings: Randwick backyard, $15/night.

Why stop there, rent out absolutely anything!

Open Shed is the logical extension of everything that we’ve just gone through, allowing you to rent out pretty much anything you own.

From whipper snippers to projectors, an iPad to roof racks, think of it like an eBay for sharing.

If you’re ready to take sharing to the next level, then this site should give you the motivation to start going through your home and working out which of your possessions you can farm out for cash.

As Open Shed’s motto goes, why buy when you can share?

100_2778

 

Ballpark earnings: Kayak in Camperdown, $15/day

Finally, just be smart about how you do it

A quick final word, obviously using any of these services is your call.

We can’t tell you if renting out your spare room will make your landlord grouchy, recreating Woodstock ’69 on your back lawn will piss off the neighbours, or giving people rides for money will land you in court (ahem, uberX). So if you do use them, be smart about it, and don’t do anything you think could land you in trouble.

At the end of the day, thousands of Aussies are already taking advantage of these services and others, and getting paid for leveraging stuff they already have.

Combining all the examples above, that’s up to $155/day you could be rolling in. And we’re willing to bet there are plenty more ways to cash in we’ve missed.

That’s where you come in. Have you given yourself a pay rise using any of these services? Or is there another way you know to make money of things you already have? Let us know in the comments.

Main image: Paul Newman, looking cooler than you ever will, in the 1961 movie The Hustler