As the world undergoes economic upheavals and conventional notions of financial jurisprudence get debated, many people are endorsing what is being called collaborative consumption.

For centuries now, we have approached life with personal pursuits in mind. The objective has been to survive, live without indulging in risks and securing as much resources as one can, but for oneself and the immediate family. In the process, people buy homes, make investments, own cars and build up an infrastructure of their own that contains a few utilitarian and many nonessential items.

Many expenses that are still considered imperative are being questioned and their rationale is being bombarded with some enlightening facts. The math shows that renting is more economic than owning a home. Yet, everyone dreams of owning a home. Not owning a car can make someone richer by a small fortune over the years but no one thinks of a life without a car.

That is where collaborative consumption is making heads turn.

Let us explore what collaborative consumption truly is.


Collaborative consumption may eventually change the way we perceive and approach financial planning.