We are all feeling the financial squeeze – from three savage Budgets, the Finance bill and job losses and pay cuts.
Last week’s Finance Bill will mean higher gas, heating oil, local authority and toll charges. But it is not all hopeless. Here are some ways cash-strapped consumers can boost their income.
Rent out a room
If you have the space, you can earn up to €10,000 a year without paying a cent in tax. Nor do you have to register with the Private Residential Tenancies Board as a landlord. Advertise your spare room on daft.ie. But do draw up a written agreement for your tenant.
Rent a parking space
If you live in an urban area parking spaces can be quite valuable. You could earn up to €200 a month. Undercut the “pay and display” rates. In rural areas, if you have spare land, you can rent out storage/parking facility. Advertise on a supermarket notice board.
Host a foreign student
Your spare room could earn money for you by accommodating a foreign student. You can earn up to €450 a week. Students stay from one to three weeks, and it is not just during the summer. Language Travel Ireland organise student visits to this country.
Work as a movie extra
This is where you make up a crowd scene with a non-speaking part. It costs €89 to register with the likes of MovieExtras.ie. Jobs likely to be in Dublin and Wicklow.
Be a mystery shopper
Mystery shoppers pose as regular customers to get information on the standard of products and services. Crest Ireland accepts online applications. Also try Recruitireland.com, according to research by the Consumers’ Association.
Other ways to boost your income:
- Sell unwanted items on eBay and Amazon and earn extra money.
- Alternatively, couples can child-mind. You can mind up to three children and as long as you earn no more than €15,000 a year you are not liable for any tax.
- Take a second job, if you can find one. The advantage of working unsocial hours or nights is that they tend to pay more. Check in your local pub to see if they need extra bar staff. Tips usually make up for a lower wage.
- Buy a more economical car. You could save yourself almost €900 a year by driving a more economical car. If you drive 18,000 miles per year and your car averages 25 miles per gallon, it will cost €3,096 (assuming 95 cent per gallon). A car that averages 35 miles per gallon costs just €2,211. The savings will pay for your road tax and insurance in 2010.