With cost of living pressure rising, you might be wondering how to make more space in your budget. One way to ease the squeeze is to spend less, which is pretty hard when you’re already buying cheaper brands and cutting your power use. But the other way is to earn more.
We’ve compiled a list of things you could try to boost your income.
If you are comfortable wrangling canines, you might want to offer yourself as a dog-walker. Dog walkers charge rates of $20 or more per walk, and if you can manage to take a few dogs with you, that can add up. Wellington couple Phil and Penny Krieg walk 12 to 16 at one time but say they spend time understanding how each dog interacts with others.
* How to profit from a bedroom clearout during lockdown
Rent out a room
You’ll have to be okay with having someone else in your space, but renting out a room in your house can provide another source of income. There are thousands of single rooms listed for rent on Airbnb for anything from about $40 to $100 a night.
You can take in a longer-term tenant, too. As long as you do not charge more than Inland Revenue’s standard rate for a boarder, which was $194 a week in the 2021 tax year, you do not have to pay tax on this.
If you have flatmates, you’ll need to pay tax on the income you get from them but you can claim the expenses you incur, too, including home loan interest costs.
If you can give people a space to park their car, you may be able to make some extra money.
Rent your garage or parking space
If you don’t need your garage, you could make some extra money renting it to someone who needs somewhere to park, or to store things.
Sites like Allspace.co.nz connect people who have space to spare with people who need it. The site says you can earn about $200 to $300 a …….