Make money by renting out your stuff

With the news that parents' living costs on the rise and a third of Britons are living on a knife edge we all need to find new ways to make ends meet whilst living the life we want to. Here's an idea that could be right up your street.

Making it easier to make ends meet, a clever new website - Ecomodo.com - simply lets anyone make spare cash from renting out their household items and save money by borrowing things they only occasionally need.

Ecomodo enables individuals to lend or borrow those everyday objects that so often gather dust in cellars, sheds and lofts with their neighbours, friends or work colleagues. From lawnmowers to tents; golf clubs to awnings, you can list items to lend and see what others have on offer. You can lend for free or charge for an item.

By lending objects, spaces or even skills you can earn some extra cash and reduce your outgoings without having to give stuff up.

People all around the UK have started to use Ecomodo.com. Recently, Jon made £24 from lending his petrol hedge strimmer to a neighbour just for the weekend. And David from Reading, whilst on holiday in Guernsey, borrowed 2 Kayaks, earning Andre £12 from stuff that would otherwise have been idle.

Byron from Edinburgh fixed his shelves and saved £50 by not having to fork out for a new drill when he borrowed one locally from Jeremy for free. And Jayne in London borrowed Vicky's iPad for a week to continue with her college work whilst her laptop was in for repair. From the lend Vicky raised £21.16 for a favourite charity The Princes Trust.

To buy these items would have cost the borrowers well over £1000 and though the lenders haven't earned huge amounts from their stuff it only took a few minutes work.

The site has some clever features to help you feel more comfortable about lending out your stuff. Individuals can set up lending circles around any type of community (their street, neighbourhood, school, workplace or club) and invite people to join and pool their assets. People can then use their circles to automatically control who can borrow their gear and choose to take a deposit or insurance for extra peace of mind. And just like Ebay, a feedback rating system checks that both parties are happy at the end of a lend.

So whether you're renovating a house; having a party; going on holiday; hosting visitors; gardening; learning something new or even trying something before you buy; Ecomodo can help you make money, save money, be a little bit more green and feel good about helping out their neighbours.