When we think about saving money and whipping our finances into shape, we rarely think about borrowing. After all, borrowing money, whether from the bank, a credit card or a trusted friend, can so often end in tears and leave us in debt for many years. However, not all borrowing is bad, and there are several forms of borrowing that can ensure you save money.
If you spend thousands of dollars every year traveling to work, school and even festivals and events, you might want to look into ride sharing. There are a number of sharing economy companies that enable you to share all kinds of things with others, so that you can split the cost and save money. Using a ride-sharing app like Lyft or organizing a work car share scheme could more than half your current travel costs and leave more money in your wallet by enabling you to ‘borrow’ someone else’s vehicle and share yours with them.
Don’t much like the cost of upmarket hotels, but don’t want to slum it on your next vacation? Companies like HomeAway and Airbnb have got your back! These companies enable property owners to lend their homes out to travelers at very competitive prices, enabling you to get a great vacation for less.
If you can’t afford to invest in your own tool-kit, but you want to be able to fix any problems that crop up around the house from time to time, see if your city has a tool library. For a small fee, you borrow any of the tools you need to finish the job, and you won’t have to worry about having DIY tools cluttering up the place.
Share Your Childcare
The cost of childcare seems to get more and more expensive all the time, but thanks to services like Nannyshare, you can cut the cost of having your kids looked after by as much as 40 percent, by ‘borrowing’ another family's nanny for part of the week. The nanny will get paid her full salary, and all the families involved will save money, ensuring everyone benefits.
If you like to look good and create lots of different looks, but you want to save on the costs of clothing, why not get together with your girlfriends and organize a clothing swap? You can borrow their clothes and they yours, or you can exchange items you no longer want for something you really love, and it won’t cost you a single penny.
Reading is an enriching and enthralling form of entertainment for the whole of the family, and if you have a library card, you can borrow all the books you need for free. You’ll cut your entertainment costs, improve your mind and impress your friends with your book-learned knowledge! What’s not to like?
Borrowing and sharing are becoming big business right now, and if you use as many lending sites as you can, you can surely save a pretty penny. If you play your cards right, you might never have to pay full price for anything again!