The rise of the sharing economy

As living costs rise, more of us are making huge savings by sharing goods and services with strangers. Merryn Somerset Webb reports.

Last weekend, we all needed to go in different directions. Making it easy meant using two cars. We only have one car. One too few. In the round of wondering how to manage the pick up and delivery of children to places two hours' drive apart, we discussed buying another car (not that day, but at some point).

Then I rang the car-hire agency down the road and asked what it would cost to rent a car for 24 hours. The answer? I could have a much newer and smarter version of my own diesel Passat for £33 and if I could find it cheaper on Expedia or some such they'd match that price.

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Merryn Somerset Webb
Former editor in chief, MoneyWeek