What is Accessible Income and How to Increase it?

Accessible income is a term that is most commonly brought up when receiving a credit. The income is comparatively different from a citizen’s taxable income since it is paid without accounting for the tax deductions. Accessible income does not only consist of regular paychecks and wages; but also includes cash or benefits obtained through government grants, tips, scholarships, and other income-generating sources. To verify your accessible income, all you have to do is add up your annual earnings from all your income generating methods. For irregular earning methods, it is best to use your judgment to determine whether these should be included or not.

It is important to make sure that your accessible income is correctly stated, as many companies/banks may run checks to verify your documents and information. In some cases, these checks might not be performed, making it easier to lie and obtain financial services. However, it is not sensible to lie about your accessible income because the risk is not worth it and can lead to rigorous imprisonment and financial penalties.

How can a Person Increase their Accessible Income?

Surviving with a standard salary package may be difficult, especially if you are in an expensive country. Thus, to bear expenses and to satisfy wishes, it may be necessary to work harder and to earn more. Here are some ways to earn more and to increase your accessible income:

Earn tips

When you wish to earn more than your fixed income, it may be suitable to sign up for a job that allows you to gain tips. You may find a full-time job which provides you with this option or may even pick up a part-time job which allows you to earn tips depending on your service and skills. Working at restaurants or delivering food are good options as they allow you to earn hefty tips and to raise your accessible income based upon your promptness and politeness.


Earning rent is one of the easiest and most hassle-free ways to increase your accessible income. For people who have extra savings/assets or wealth, it is always wise to invest it in purchasing property or vehicles which you can offer for rent. Such an option also allows you to increase your total monthly income without working. Moreover, the wealth of your asset remains intact and may also increase in some cases while you receive regular rental payments.

Open a Savings Account

Opening a saving account is also a wise option to increase income. A person can easily open up a savings account and deposit their excessive cash. Additionally, this method also protects their money from losing value due to inflation. While opening a savings account to raise accessible income, it is advisable to survey several banks and make a comparative statement about their annual or monthly profit.

Government Benefits

In many countries, the government recognizes the issue of inadequate income, which is why they have specific grants which are redeemable for a particular group of people. Many governments have student grants, which are incredibly helpful, considering the high tuition fees and accommodation expenses. Many governments also have special child benefit programs that are helpful for parents who earn insufficient amounts. The best tip to increase your accessible income through these programs is to research and evaluate which programs are applicable to you.


Scholarships are another generous grant for students who have difficulty in meeting expenses. In such a situation, the best thing for a student with a good academic background is to reach out to their institutions and organizations to apply for scholarships. In many cases, this is an option that is available when students apply for their higher education programs in other countries. Additionally, these scholarships are not only limited to academics, and students with a good extra-curricular record and athletic abilities may also benefit from it.


This is an exclusive option for people who have excess money and wish to increase their accessible income. People may use their extra money to invest in new startups or to invest in shares. They may also start their own business, which will provide them with the necessary skills with a chance of earning a high return. However, while considering this option, people must be aware that it may decrease their accessible income rather than increasing it if they incur a loss.

Parental Finance

In Europe and other countries, it is a common custom for children to move out at the age of 18 in order to build their careers. However, this can be really difficult considering the high expenses that they have to bear. Hence, many parents provide monthly finance to their children which can be a part of their accessible income. Although this might be a great option to have a side income, still many teenagers might not have access to parental support.

Any form of Side Job

After devoting the standard hours to their job, many people have additional time, which they can use to make an additional income. This may be suitable for people who wish to generate good pay by performing a side job. Doing extra jobs has been made easy after the development of e-commerce and online jobs as surveys report that a high proportion of the urban population is now switching to online jobs to increase their accessible income.

Accessible Income for Credit Card Applications

Assessing accessible income is a common factor by credit-issuing companies. The legal issues require accounting for an accessible income to protect banks by ensuring safety to their capital. Before issuing credit cards, banks consider the accessible income of a person as it is usually free from tax, which means that this is the amount from which their credit will likely be repaid.

Additionally, you also need to provide documentation of your paychecks, as well as all other methods of earning an income, to receive credit. You should also not try hiding or resort to lying when declaring your income to a lending institution since you may be charged with fraud and receive a jail term, fine or both.

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