Secret cash source

There’s an unrecognised cash resource many of us don’t know we have.

And it can be used to get ahead on the mortgage, pay off consumer debts, or just buy the things we need to live a comfortable, modern life.

It’s your fourth week of annual leave, or for the fortunate, that fourth and fifth week.

Employment law says your boss must at least consider requests from employees to ‘‘cash up’’ their fourth week of annual leave. If you are a good, productive employee, whose days at work are worth your salary, your employer should jump at the chance to get those five extra days of labour from you.

In return you get an extra cash injection into your life.

There’s a lot of people doing it, including many public servants.

Reports to Parliament show that in the past financial year, for example, 133 people from the Min-

OPINION:

istry of Primary Industries did it. So did 193 from the Ministry of Business, Employment and Innovation. I reckon these holiday casher-uppers probably have a few things in common.

I would anticipate many were young and childless, seeking to use their pre-child years to save a deposit for a home, or pay down a mortgage in preparation for having children.

Others would be older emptynesters without the pressure to make their holidays stretch to cover school holidays. I’d also expect most were people who liked (or at least didn’t mind) their work, and hence were happy to be there for an extra five days.

Cashing up leave can also be a means of sticking money in the bank, or reducing debts, if you are concerned about the stability of your employment.

Whether or not you still have an income next month, the rent or mortgage still needs paying, and food still needs putting on the table.

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