Simple Ways To Save: Items you can rent out to earn extra income

We can only stretch our incomes by so much, and its no fun stripping our budgets back to the bare minimum.

We work hard, and want to enjoy our lives. With the increasing cost-of-living and looming interest rate increases, Aussies are bracing themselves for a tricky 2023.

What if there were another option? A way to increase your income without working longer hours or taking on a second job is to start thinking outside the box.

Look around you. There are items and spaces in your home that you can use to earn rental income.

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Wouldn't it be nice to add a hundred dollars or more to your weekly, fortnightly or monthly income?

It's really easy to do and made even easier by social media and websites that facilitate the booming rental items market.

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Here are 5 ways to make some money from items you already own.

1. Wardrobe items

Renting out your better items of clothing is an easy way to make some extra cash, in particular bridesmaids dresses and work outfits.

My Closet is one website that can you do this. To maximise your rental income take well-lit photos of your clothing.

You can also rent out items such as designer handbags.

2. Vehicles

For vehicle owners who live near public transport, you may have a car that sits in your driveway or garage most days.

Instead, rent it out using Drive My Car.

You can also rent out trailers, utes, motorbikes, even just for weekends for those visiting from out of tow.

3. Unused spaces

Spare rooms and garages can be rented out for others to use as storage. Storage spaces can be very expensive and usually require a monthly commitment.

Alternatively you could advertise your spare room to a student from regional Australia or overseas, which is another wake to make some extra cash. Advertise through local council websites, schools and Space Out.

4. Technology

Any extra technology you have can also be rented out to others, including computers, printers, accessories, even speakers.

Others may need items for extra projects, exams or parties.

You can advertise these items online for those seeking them.

5. Cleaning appliances

If you are the owner of a superior vacuum cleaner or carpet cleaner, you can make additional cash by renting these items out.

This includes outdoor cleaning items such as leaf blowers, lawnmowers and the like.

Bonus: Electric car chargers

This one may be five years too early but if you do have an electric car and therefore a dedicated electric car charger, you can rent this out too. Electric car chargers are still few and far between in some areas.