smart spending

5 ways a sharing economy helps save money

Keep costs down in a sharing economy
Keep costs down in a sharing economy © maradonna 8888/Shutterstock.com

People are increasingly turning to a new way to save money -- sharing.

Across the country, people are sharing tools, rides, food and even ties, and the booming sharing economy is also spurring community togetherness as people share goods with their neighbors.

For those who revere frugality, there's lots of money to be saved. Neal Gorenflo, the co-founder of the online Shareable Magazine, saved $17,000 in one year when he decided to share cars, food, child care and even work spaces. "You meet cool people and save a lot of money," he says.

And sharing is getting easier than ever as the process evolves. Free sharing sites, apps and other resources are springing up around the country, Gorenflo says.

Here are ways to share worth scouting out.

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