One of the main reasons that people don’t travel is because they simply don’t have the money to do it. So, it’s no wonder that people ask us how to save money to travel. Our #1 biggest piece of advice is to increase your income by earning side money in some way – and the EASIEST ways to do that are by using the newest social sharing apps out on the market today. But, this advice applies to ANYONE that needs extra side money – even if it’s not for travel. So, why not add some extra income to your pockets every single month?
If you’re the type of person who is always looking to make some extra money on the side, then you’ve probably already read a few books like:
Our favorite way - that earns the most and takes the least amount of time to set up - is by hosting your spare room on Airbnb. But, this isn’t the only way to earn some easy side money – we’ve made a list below to help just about anyone earn some extra side money!
Here’s our List of “Ways to Earn Extra Money by using Social Sharing” with things you already have:
1. Airbnb Hosting - renting out your spare room
Our #1 pick for earning additional income is to simply rent out an extra room at your house – it really isn’t hard to do. In about 1-2 hours I had set up my account with Airbnb and then it took me just a couple extra hours to clean up the spare room and get it ready. I ended up earning around $600 extra every single month thereafter – and all I had to do was an extra load of laundry and clean the room after each person came by (sometimes they’d stay a full month)! You may be able to get more than we did, depending on your location and house. But even at $600/month, that’s like adding $7,200 to your annual salary - it’s incredible!
An extra perk of hosting people on Airbnb is meeting other travelers.
If you’re worried about safety, we get it. We were worried the first time we did it as well. But, it turns out that Airbnb has you completely covered for anything that happens in the time that guests are booked at your home. We should also note that we never had a single security issue when renting out our spare room - or ANY issue for that matter with any of our guests. And in the 43 Airbnb’s that we’ve stayed at so far during our endless journey, we’ve also had no security issues. So, we would still be renting out the rooms if we still had a permanent place!
As Referring Hosts ourselves, we encourage other people to become Hosts and list their extra room(s) on Airbnb. You can get started by signing up through our referral link: Start Hosting on Airbnb and we’ll personally help you with any questions you may have in getting your account started, set-up, and hosting your first couple guests! (contact us at email@example.com)
2. Turo Renting - renting out your vehicle
Yes, we’ve even rented out one of our vehicles. It all depends on what you want for your car, but occasionally it turns out that travelers (like ourselves) want to rent a vehicle for an entire month. To do that, we really need to look around, because many car dealers will charge $600-$1,200 per month for a rental car! If you’re willing to rent yours out for less than that, then we’ll both benefit. I’ll save money and you’ll make money. Check out Turo.com to list your vehicle for rent - but make sure you pay attention to the different types of coverage that they offer.
Depending on the type of vehicle that you own, the amount you earn could be quite different. The vehicles that do the best are affordable cars, luxury cars, and unique cars. Check out other listings to see how much to expect, or set it to automatically determine a price for your vehicle and then decide if you are comfortable with that rate. If not, you can set the minimum rental rate, the minimum number of days per rental, and a number of other criteria to make you feel more comfortable.
3. Boatsetter Renting - renting out your boat
If you have a boat, do you use it all the time? If not, you can choose the days that you won’t be using your boat and list them as rental days! Other people would rent your boat and pay you money while you aren’t using it. Why not earn money from your boat rather than letting it sit around? Check out Boatsetter.com if you are interested (you can even rent other peoples boats here as well!)
4. RV Rentals - renting out your RV
Renting a car can be expensive when doing a road trip. To save money, many people rent out RV’s for about the same price as renting a car, but then don’t have to pay for hotels along the way. There may be small charges to pay for parking in lots that provide electricity and water each evening, but the costs are usually much less than the alternatives.
If you have an RV that you aren’t using all the time, perhaps it’s time to rent it out to someone else so that they can get some use out of it and you can earn a little side income. The most popular sites for doing this are Outdoorsy (which also has an App where you can manage your listings) and RVshare, but we recommend taking a look at The RV Nomad’s post “Don’t Rent Out Your RV Before You Read These 7 Important Tips” before you decide to make the extra cash. It’ll help protect you if anything goes wrong.
5. Baby Equipment Renting - renting out your baby equipment
From infant to toddler to elementary age, kids grow up fast. They also outgrow car seats, strollers, cribs, and even toys very quickly. If you have any kids items laying around in storage, you may be able to rent them out. Families traveling on vacation may not want to pack their stroller, pack-n-play, playmat, or car seat and opt to rent them from baby supply companies. The peer-to-peer apps for baby rentals are not as worldwide as Airbnb, but they do exist even if just locally.
Babyquip and gobaby are popular in the US and Canada. Kindershare is set up in Australia. You can sign up with the products and equipment you already have, or go out and purchase what you need when an order comes in. Of course you should only make the purchase if the rental cost can cover the expense and make you a profit. You may even be able to get donations from friends and family when they’re getting rid of their baby stuff. Just make sure the items are in excellent condition.
6. BONUS: Do you have a Timeshare that you’d like to rent out?
If you’ve decided at some point to purchase a timeshare, but cannot find the time to use it this year, don’t worry! You can rent it out to someone else to make up for money you might otherwise end up losing! Here are 3 sites worth looking at:
Other Ways to Earn Extra Cash
Other Ways to Spend a Little Less
If you don’t enjoy splurging on clothes, check out this affordable Online Thrift & Consignment Store.
After Earning Extra Money
Once you’ve earned some extra money from your side hustle, don’t overspend when booking your next trip! Save money on airfare, hotels, rental cars, and more by checking out our travel deals page. We want you to get the best deals and make travel easy for you.
Thanks for reading! Please check out some of our other blog posts by searching our site for your favorite destinations (using our site search bar). It’s easy and fun :) If you’ve found this article to be helpful, or if you have any questions, please let us know in the comments section at the bottom of the post.
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Jenny & Bradley of EatWanderExplore