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The rising cost of living has led many to consider renting out a room in their home as a way to earn extra income. The government offers a Rent a Room scheme that allows individuals to earn rental income tax-free up to a certain limit. This tutorial, presented by Kozan from Financial Madness, focuses on the differences between renting out a home solely for investment purposes and renting out a spare room while living in the property. The discussion emphasizes the nuances of having lodgers, as opposed to tenants, in a property intended for personal residence.