Money | How to make more money on the side

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If you have little chance of getting a raise but need to earn extra cash, there are some things you can do to increase your income.

Many of us often have little left once all of the bills and expenses are paid out from our monthly pay cheque. Having a little extra income allows us to save more, or pay for those things that we really need or want.

Having two jobs sounds and is hard work, especially if you have a family. But there are some things you can do that is not so time-consuming and exhausting.

Becoming an Airbnb host is one option. While last week’s news that Airbnb was passing on details of its hosts to revenue scared many, it is still financial viable to do this. The rent-a-room scheme income has to be declared on an annual basis, via a personal tax return, to the Revenue Commissioners. However, it is tax free up to €12k gross.

As Airbnb becomes increasingly popular amongst global travellers and Ireland’s tourist numbers continue to grow, it is a good option to consider. The typical price for a double room in Galway city, for example, is about €40 a night, or €60 in Dublin city centre. Airbnb takes a three per cent host fee every time a booking is completed.

Mystery shopping is another easy way to earn cash. The job involves visiting a business and posing as a typical customer. You then feed back any information about the shop back to the owner, via a questionnaire.

Most of these excursions are organised by research companies and can pay between €15 to €40 for a visit. The trips can take between five and 40 minutes, with additional time required for the evaluation after. One of the job requisites is to know what constitutes good customer service and the ability to recognise it when you see it.

Decluttering your home regularly and having a car boot sale is a great way of cleaning up your space, and earning money. To capitalise on such an event, you could also have a cake sale and/or tea stand to earn extra revenue.