In the age of ‘there’s an app for that’ a concept known as the sharing economy has grown from the technology. Even if you don’t know what the sharing economy is you’ve probably used it before. Once relegated to vacation homes at beach destinations, sharing apps such as Airbnb have allowed people to rent unused rooms, homes, and even camping trailers to other travelers. Where once you’d have to hail a taxi if it were available to get around without a car, now you can hail a ride on your phone with apps like Lyft. But housing and transportation are far from the only things you can find on the sharing economy, and it’s giving us access to a better lifestyle.
As the economy has struggled and the cost of living has soared, people have begun to value experiences over things. Owning things can be a burden, especially when it comes to things you might not use very often. Rather than owning a vacation home you might visit twice a year, renting one from someone else can give you the same experience at a fraction of the cost. And you can rent designer dresses for a special occasion, rent scooters to zip across traffic, and even rent a pool for your next pool party.
Buying experiences instead of things can give you greater happiness in the long run. Three in five people see sharing as being more sustainable than owning things that go unused most of the time, and recalling fun memories can help you maintain a more positive outlook on life. Borrowing things on the sharing economy also prevents you from having to worry about maintenance, upkeep, accidents, and more. In short, owning excess stuff is often stressful, but that doesn’t mean you have to give up your lifestyle.
Learn more about the merits of the sharing economy from the infographic below.
Last Updated on February 3, 2021.