Sharing, borrowing and bartering go high-tech

[phantom power]

"Collaborative consumption is emerging so fast and across sectors because of a perfect storm of four key socioeconomic drivers," says Rachel Botsman, co-author of "What's Mine Is Yours: The Rise of Collaborative Consumption." She says these factors are environmental awareness, a renewed sense of community, a recession that fundamentally shook consumers and a torrent of social media that facilitates collaborating.

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Lending Club: Debuting in 2007 as a Facebook application, Lending Club owes its life to social media. Lending Club is a pioneer of peer-to-peer lending. Members looking for a loan post what they're seeking. Members looking to invest money finance the loans. Lending Club, based in Redwood City, Calif., says both sides win, with above-average returns for investors and lower-than-average rates for borrowers. However, it only accepts lower credit risks; roughly 90 percent of prospective borrowers are rejected.

Chegg: Which came first, expensive college textbooks or burdensome student debt? No matter. Chegg resolved this chicken-or-egg question — and also got its company name — by hatching a cost-saving answer. Chegg rents textbooks for just the amount of time you need them. Then you ship them back, Netflix-style. It's much cheaper than buying, the company claims. "The Basic Practice of Statistics" by David S. Moore, for instance, was recently listed as renting for $44.99. Purchase price is $120.95. Also, Chegg plants a tree every time someone rents a book — more than 4 million so far, according to its website.

Airbnb:Whether you have space to spare or want to stay in a place with flair, Airbnb matches hosts and guests with a wide range of accommodations around the world. For hosts, it's free to list your space; you get paid 24 hours after the guest checks in. For travelers, a recent survey of the site showed a wide selection of options below $100 in major American and European cities.

NeighborGoods: For anyone who has ever wondered, "Does everyone on the block need to own a lawn mower?" NeighborGoods has the answer: No. And assuming those who do are willing to share, the site facilitates borrowing and lending at no charge. The owners of the lawn mower — or whatever is lent — can charge a deposit or rental if they want, however. Verifying your NeighborGoods account for $4.99 is optional, but yields access to more items, the company says. You can also create your own customized lending group — for your building, block or whatever — that NeighborGoods will host for as little as $6 per month.

http://today.msnbc.msn.com/id/42708598/ns/today-money/

[AlecBGreen]

1. I like the neighborgoods idea

I will look forward to seeing how it pans out. It would be so nice to have access to some woodworking tools w/o having to shell out thousands of dollars.