What is AirBnB and how can it slash your travel accommodation costs by up to 80%?

If you aren't already familiar with Airbnb, it is an amazing way to save money on travel accommodation costs. Before AirBnB I used to stay at hostels, but this new system has made traveling much cheaper. Basically they:

"connect people who have space to spare with those who are looking for a place to stay. Guests can build real connections with their hosts, gain access to distinctive spaces, and immerse themselves in the culture of their destinations. Whether it's an urban apartment or countryside castle, Airbnb makes it effortless to showcase your space to an audience of millions, and to find the right space at any price point, anywhere".