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7 Best Peer to Peer Commerce Sites for Making & Saving Money

7 Best Peer to Peer Commerce Sites for Making & Saving Money

In the internet age, it’s possible to enjoy an unprecedented variety of luxuries and creature comforts without having to buy from a business.

Just take AirBnB, which allows you to rent other people’s homes when you travel – or Uber, which lets anyone with a mobile phone and a car drive others around for money. Both services have been extremely successful because they’re an affordable – and often better – option than hotels and taxis.

And that’s what “Peer to Peer Commerce” is all about: getting goods and services directly from other people and businesses. What most people don’t know, however, is just how many apps let you participate in Peer to Peer commerce. Below are our favorites for 2016.

A few of these apps and sites are completely new; several became significantly more popular this year; all of them are definitely a fun way to make and save money.

1. Dog Vacay

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    Going on vacation? Wondering where you’re going to leave your dog?

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    You could take your pet to an expensive doggie hotel, where it’ll live with dozens of other dogs…or you can save money by leaving your favorite canine with a caring, loving dog-sitter while you’re away.

    You can schedule to get daily photographs of your dog playing, going outside and getting love from the people it’s staying with. Cool, huh?

    2. Turo

    mother-son-and-great-hat-5-1506490

      Turo – previously Relay Rides – allows users to rent their neighbors’ cars via a convenient online website and mobile app.

      This means you can get a car when you need it, and get access to a large S.U.V., a jeep or even a sports car without having to own one. And if you’re a car owner, you can make money by letting others use your car when you don’t need it for yourself.

      3. TaskRabbit

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      girl-with-a-reflex_1150-2

        TaskRabbit lets you hire people to run small errands, from grocery shopping to fetching coffee to your office from Starbucks.

        Now you can feel like Meryl Streep in the Devil Wears Prada – minus the aggressive demeanor – without having to hire a full-time personal assistant! Even better, you can trust more complex tasks – from cleaning and moving to home repairs and handyman work – to TaskRabbit contractors…

        And, of course, make a side income in your free time while doing chores for other users.

        4. Amazon Marketplace

        amazon-com-market-place

          Surprised to see Amazon on this list? Don’t be!

          Amazon Marketplace allows businesses and individuals to sell their goods to each other. With eBay traffic falling significantly over the last couple of years, Amazon Marketplace is the hot new platform for P2P commerce.

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          And if you do end up enjoying how the platform works, you can easily transition from selling things you no longer need to running your own business with services like Fulfilled by Amazon.

          5. Fon

          woman-with-a-smartphone-in-airport_1163-708

            Have you ever been in an unfamiliar city without an internet connection? Have you ever wished you could use one of the many password-protected WiFi networks around you?

            With Fon, you can!

            Fon is a little different from the other businesses on this list because it’s more about sharing than P2P commerce. It lets you use other people’s WiFis in different cities around the globe in exchange for them using yours.

            Having said that, I love the idea behind Fon – and couldn’t not include it on this list.

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            6. Spinlister

            golf-club-with-a-ball_1160-442

              Doing sports when you’re on vacation is fun. Unfortunately, some kinds of sports equipment – snowboards, high-end mountain bikes, surfboards – can be extremely expensive to buy, and difficult to take with you on vacation.

              Spinlister solves this problem by letting you rent sports equipment from other folks when you’re abroad or at home. With users in 100+ countries, this is a great way to connect with locals and do your favorite sport without overpaying.

              7. JustPark

              beach-town-traditional-street_442-19316813

                Tired of trying to find a parking spot near your home or job? Consider paying your neighbors – or the nice folks who live close to your office – to use theirs instead with JustPark.

                Users report saving 60% on their parking fees on an average – not to mention that, in cities like New York, JustPark spots are often an alternative to circling the same block for hours, trying to find someplace to leave your car.

                Featured photo credit: blog.bazaarvoice.com via blog.bazaarvoice.com

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                Vikas Agrawal

                Vikas is the co-founder of Infobrandz, an Infographic design agency that offers creative visual content solutions to medium to large companies.

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                Last Updated on July 10, 2020

                The Definitive Guide to Get out of Debt Fast (and Forever)

                The Definitive Guide to Get out of Debt Fast (and Forever)

                Debt can feel crushing, like a weight that is always weighing you down. Looking at those numbers, it can feel as if you’ll never get out from under it. However, if you really want to learn how to get out of debt, it is possible with a great deal of focus and self-control.

                Getting out of debt isn’t impossible. Like any big goal, all that it takes is an action plan to identify where you are and creating a plan to zero out your debt.

                Identifying All of Your Debts

                The first part of paying off your debt is getting a complete picture of what you owe. When you have everything written out in front of you, it makes it much easier to create an action plan. Depending on how much you owe, it might also help you realize it’s not as bad you might have originally thought.

                Here’s how you can get started identifying your debts:

                1. Own Your Debt

                Before you start identifying all of your debts, take a moment to process that you have debt but want to get out of it.

                Forgive yourself for any past mistakes, missed payments, or overspending. It might be painful to accept how much debt you have at first, but you must own it.

                2. Make a Debt Tracker

                It’s astonishing how few people ever created a tracker to understand their total debts. Most likely, it comes from not wanting to accept the guilt of having debt, but, if avoided, it can make it nearly impossible to get out of debt.

                Open up a new Google or Microsoft Excel sheet and list out all of your debts. Start with the name of the creditor, interest rates, total balance, loan term length (if any), and the minimum amount due each payment. This will include student loans, credit cards, and any other type of debt owed.

                3. Get Your Debt Number

                Once you’ve made your debt tracker and taken the other steps, identify your total payoff number. This is crucial, as you will have a starting point and a clear goal that you are trying to achieve.

                Prioritizing Your Debts

                All debt is not created equal. It’s imperative to understand that there are different types of debt.

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                1. Understand Bad and Good Debts

                Bad debts are usually paying for things you want instead of always need. While there might be some emergencies that max out your credit cards, often times it’s excessive spending[1].

                There are three main types of bad debt:

                • Credit Card Debt: The average American household owes over $16,000 in credit card debt!
                • Auto Loan Debt: According to CNBC , the average auto loan in the US is $30,032!
                • Consumer Loan Debt: Consumer loan debt isn’t as common as credit card and auto loan debt, but it’s still considered bad as interest rates are usually between 10-28%.

                Good debt is identified as investments in your future. Here are three common types of good debt:

                • Student Loan Debt
                • Mortgage Loan
                • Business Loans

                2. Decide Which Debt to Pay off First

                Once you know each type of debt and their interest rates, you can begin to pay off debt quickly.

                Focus on paying off bad debt first, regardless of if it is a credit card or auto loan. Start by paying off the loan with the highest interest rate first.

                If you have several credit cards with different interest rates, you want to focus on the one with a higher APR. You will actually save more money by eliminating the card with the highest interest rate.

                3. Don’t Pay the Minimum Amount

                Paying the minimum amount digs you into a hole as interest rates will offset your payment. Even a small amount more than the minimum can help you pay off debt much faster.

                Removing Obstacles to Pay off Debt Quickly

                Creating a debt tracker and prioritizing a plan is simple, but avoiding temptation can be difficult.

                1. Set a Reminder to Track Your Debt

                “If you can’t measure it you can’t manage it.” -Peter Drucker

                It’s so important to track your debt to ensure that you get it paid off quickly. Similar to working out and measuring your results, you need to track your debt constantly. Start with a weekly reminder, where you sign on and log your updated number. Did you increase, decrease, or stay the same?

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                Regularly tracking your student loan balance can be incredibly motivating, as well. You will get a huge confidence boost each time you see your total debt amount decreases.

                Set weekly and monthly goals so you can have short term wins and keep the momentum going.

                2. Hide Your Credit Cards

                If your biggest debt is credit cards, you need to eliminate temptation and remove them from your wallet.

                Some people have gone to extreme measures by freezing their credit cards. Why? This would create an ice block around your card, which would require you to chip away at it slowly. This will give you time to think if it’s the best idea to buy that thing you’re about to buy.

                3. Automate Everything

                Willpower can be a huge downfall to paying off your debt. By automating your bills each month, you will ensure that willpower isn’t involved.

                4. Plan Ahead

                Getting out of debt will require some sacrifices, but with enough planning, you can make it work.

                For example, if you know that you have a friend’s birthday or family dinner coming up, plan ahead for the costs. Whether you need to cut back on spending the week before, pick up a side job, or meet them after dinner, do what is needed.

                5. Live Cheaply

                The only way to get out of debt is to make some sacrifices on your spending habits. Find ways to save money each month so you can apply that amount to your outstanding debts. Here are some ways to save money each month:

                • Live with roommates
                • Cook dinners and prepare lunches for work instead of eating out
                • Cut cable and choose Netflix or Amazon Prime
                • Take public transit or bike to work

                Finding the Lowest Interest Rates

                The higher your interest rates, the harder (and longer) it will take you to pay off any debt.

                If possible, you want to find ways to lower your interest rates to help get out of debt quickly. Here’s how you can get started:

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                1. Maintain a High Credit Score

                Your credit score will have a large impact on your ability to refinance your loans and receive a lower interest rate. If you have a low credit score, it’s unlikely you will be able to refinance your loans. Use these credit tips to increase and maintain an excellent score:

                • Never miss a payment
                • Don’t exceed 30% of your credit limit
                • Don’t sign up for more than one card at once
                • Limit hard inquires, like auto-loans and new credit cards
                • Monitor frequently with free credit-tracking software

                2. Find Balance Transfer Offers

                Start by opening a free account on credit.com. Credit.com offers you the chance to open a free account and see what type of balance transfer offers you can receive. Some of your existing credit cards might already have 0% or lower APR balance transfer offers available.

                Contact each of your credit card providers to ask about lowering your rate for a one-time balance transfer offer[2].

                If you do take advantage of this option, make sure that you use a balance transfer and not a cash advance. Cash advances have a ton of high interest fees (15-25%, depending on your credit card) and will only compound your debt problem.

                How to Get Rid of Debt Forever

                Setting up a plan, removing temptations, and getting the lowest interest rates is the first step to get out of debt.

                1. Keep Monitoring and Adjusting

                Once you have a plan, don’t get comfortable. Track your debt payoff plan and make the necessary adjustments when needed.

                Monitor your credit scores with a free site like CreditKarma. The higher your credit score climbs, the more likely you will be to secure a new, lower-interest loan.

                2. Earn More Money

                There are only so many ways to save money. Instead of clipping another coupon or making sacrifices for your morning coffee, find ways to earn more money!

                Think about it…it is much easier to find ways to earn an extra $1,000 per month than find $1,000 to cut from your budget.

                Here are some examples of ways to earn more money:

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                Talk to Your Boss

                Have a conversation with your boss about current salary and/or commission rates. If you’re not satisfied or want a change, don’t be afraid to look around at other positions. Some of them might even have a student loan debt reimbursement plan!

                Start a Side Hustle

                This could be coaching students on the weekends, driving for Uber, or taking paid online surveys. There are tons of ways to make money outside your 9-5. Now that you have a clear plan to pay off your debts, you’ll be more motivated than ever to figure out creative new ways to earn money.

                Build an Online Business

                There are so many websites and blogs that earn money from ads, affiliates, and other online products. Find your niche and get started.

                3. Celebrate Your Wins

                As you progress in your debt payoff journey, don’t forget to celebrate your wins. You need to always reward yourself for the hard work and discipline that is required to get out of debt.

                While you shouldn’t celebrate so big that it increases debt, make sure to factor in little rewards to keep you motivated.

                4. Set New Financial Goals

                Eventually, with a plan and these steps, you can rid yourself of your debt. Once you do, make sure to celebrate your monumental achievement, but don’t stop there.

                Now, you can focus on acquiring wealth and increasing your net worth. Set new financial goals so you have a new target to aim toward. Here’s how to set financial goals and actually meet them.

                These could be anything now that you are debt free! Think about where you want to travel, buying your first home, or saving for your future retirement. Just like before, make sure that your goals are specific, measurable, and achievable.

                Conclusion

                Congrats, you can now set a plan in motion to finally pay off your debt quickly (and hopefully forever)!

                Remember, if you want to get out of debt quickly, it’s not always easy. Just like any big goal, there will be sacrifices, challenges, and problems to overcome.

                More Tips on Getting out of Debt

                Featured photo credit: Pepi Stojanovski via unsplash.com

                Reference

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