New Year, New me & Earn Money!
HAPPY NEW YEAR!!
Well let’s make a new year’s resolution of not being broke. Don’t worry it won’t be like the other new year’s Resolutions. Not like the ones we make and forget about it only because it involves the universal language, Money!
I mean let’s take a step ahead from being broke and earn some cash. Unless you don’t want to (Lol let’s be honest and you can stop being modest >_<). Your daily 9-5 doesn’t have to be the only way to earn and no this isn’t a Ponzi scheme. In fact, I am writing this blog to tell you that there are other ways to earn not in any shady way or any other thing your creative mind can come up with ;P . This technique is:
Behold! I represent the hack to you. Drum roll… It’s renting.
I mean it was evident before on the name of this blog so why the theatrics? Well, there is a reason. I am not speaking about your usual rentals, like renting houses, renting apartments, renting flats and other common rental assets. But I am talking to you about renting out your items. Despite what we say about it, it is a very vast market.
Scope Of Renting:
Sharing is caring as the famous tagline from Kissan (Jam) says. That couldn’t be any truer. The advent of the internet has brought about an opportunity for platforms like uber, lyft, Airbnb, Turo and many more to flourish in the market using the concept of sharing economy. The scope of the sharing economy is as big as a social network. Guess what? Its dominating the world.
Imagine a time where the world will become one neatly knitted society where we all could rent things we don’t need and become a renter when it suffices. Won’t it save a lot?
Save through rentals:
Renting saves, space, money and it also helps save the environment. Renting can help in the environmental aspects because it leads to more usage of any item (complete life cycle) rather than it gathering dust and going into the waste (Reuse). It saves space because if it is on a constant renting cycle you could use the space to store something else (Or grow a plant #savetheearth #savetheplanet). Saving money well, this is obvious because you could always save money by renting something for a one time use and give it back to the owner rather than owning it. For instance, how many times in a year would you use a drilling machine, one, maybe two, okay 3? So, we could technically save 3500AED on buying the item and rent it from someone at the price of 150AED per day. I mean to count exact figures of savings would be 3350AED but still saving so much innit? So, start renting?
Earning by renting:
Not convinced yet on the experience. Then how about you start earning through renting out your items. Say you have a guitar and you have excess baggage already on your maximum baggage. So, you can’t carry it. Well you can rent it out for your vacation time, and it would be still in use as you would be partying in Havana. You could earn 75 per day, which gives you an income of 525AED for a month of vacations. Another example I can think right on top of my head is camera equipment. The number of people who need rental camera equipment for a lot of shoots is immensely high. You could rent out lenses, extra cameras, stands, lights and other equipment. The lists of items that you could earn out off doesn’t stop for an idea you can look through the site of Borrowblob
Become a business Man/woman:
This brings me to my last point, renting can re-kindle your entrepreneurial spirit by completely renting out your household. You will stop seeing everything as mere items but as an asset you can poses that you could potentially gain revenue from. Imagine you have a Tent, that you’ve bought it for 200 AED. If you charge a rental price of 25 AED per day, you easily reach break-even point within 8 rental days. It is a win-win situation all the way.
Rent out and cash in. Borrow your way to the riches. Now if someone asks, Hey! Want to get some cash? You can use borrowblob.com to create your way into the riches. I guess new years is a good time to celebrate this life hack. Earn all you want by renting.
C’mon what’s stopping you now?