They say don’t put all your eggs in one basket, especially in these changing economic times.
Relying on one income stream can be risky due to job cuts, retrenchment, and advances in technology. Companies are downsizing and adopting new technology to cut labour costs. All is not grim though; you can start a side hustle to earn a side income and protect your future.
A side hustle will give you the financial muscle you need to survive in this economy. In this article, we’ll take a peek into what are some of Singaporeans’ most profitable side hustles.
Tips for a successful side hustle
Before we go into the side hustles, here are tips you can follow to ensure success as you seek that extra income:
- Research on the best side hustle — look for one that earns you residual income and doesn’t require too much effort.
- Start where you are and identify knowledge gaps you can fill.
- Have a plan to make sure you manage your time well to avoid overlaps and conflicts.
- Find a side hustle that aligns well with your life goals.
- Seek advice from your industry experts to learn more about the industry before you start.
- Look for a side hustle where you can use your current skills.
- Have a clear goal on why you are starting a side hustle. Thinking of the bigger picture helps.
Profitable side hustles for Singaporeans
Side hustle income can help you reach your financial goals more quickly. Here are 17 side hustles that can help you earn a side income in Singapore and change your life for the better.
The tuition industry in Singapore is worth more than S$1 billion and growing, especially due to the pandemic.
Online tutoring gives you an opportunity to interact with students from all over the world. The good thing about online tutoring is that you schedule your classes based on your availability.
Depending on your credentials, experience, and academic level you are teaching, you can earn anywhere from S$20 to S$70 per hour.
In addition to tutoring, you can sign up for websites that pay you to answer students’ questions. Websites such as Snapask pay you $0.71 for every question you answer and a bonus of $8.98 for every ten questions you answer.
Ever wanted to be an entrepreneurial boss and own your own business?
E-commerce has been flooding the retail scene, with many businesses abandoning traditional brick-and-mortar stores in favour of online marketplaces.
Find goods you can sell online and design an online shop. Many e-commerce start-ups tend to adopt a dropshipping model. Dropshipping involves you (the business owner) working with a third-party supplier to sell orders to consumers at a marked price and earn a profit.
Using your social media platform, market the shop and grow the traffic to your site. Plan the delivery of your products to avoid disappointing your customers. If successful, you can earn really an uncapped income from your e-commerce business. It all depends on how well your products sell.
As customer demand shifts, businesses have to design their processes to offer high-quality services. They have to invest in becoming more customer-centric.
Businesses can improve how they serve their customers by ensuring that their websites and apps are user-friendly. And that’s where you come in. You can get paid to test the usability of a website and apps. Website tests require you to browse through the site, checking the functionality of the buttons and menus and more.
You will need a stable internet connection, a laptop, and a microphone. For each completed test, you will earn S$10 or more.
Offering translation services has been known to bring in a decent income. The biggest incentive is the convenience and scheduling flexibility that translation affords. You can find translation jobs on websites like Linkedin, Indeed, Jobstreet, and others. Translation projects are cited as one of the more popular jobs to earn a side income in Singapore.
Most websites that offer these jobs require you to take a skill assessment test before bidding for jobs. Translators earn around S$0.03 to S$0.08 per word.
You can sell high-quality photos and earn extra income. If you have high-quality images, you can sell them on websites like Shutterstock and Getty images, among others. The websites allow you to upload your photos, and they pay you when one of your photos is purchased.
Different photography websites have varying requirements, but they have one thing in common: they accept only high-quality photographs. You can earn a residual income from the websites.
The sites pay a percentage of what they receive from the buyers. For instance, if you qualify for Shutterstock, you can expect 15% to 40% of the purchase price for every download.
If you are wondering how to make more money in Singapore, try picking up passengers on your way home. Turn on your ride-hailing app (e.g. Grab, Gojek, TADA) to see if there are any available passengers. Consider doing this during the weekends to earn more money in Singapore. You can earn approximately S$500 per week if you devote three hours every day to ride-hailing.
Singapore receives a high number of tourists every year. And especially since travel is opening up again, this is the perfect time to put your travel guide hat on.
Test your geographical and trivia knowledge of Singapore by sharing about the city’s history and culture with curious foreigners. It’s a fair trade-off; they learn interesting tidbits about a foreign country and you earn some extra income on the side.
You can do this on your days off or after work. Come up with your itinerary, and submit it to a website such as Airbnb for review and publishing. As a tour guide, you can earn fast cash in Singapore and incur no expenses.
Looking to earn fast cash? Look out for surveys. You don’t need any major skills. Just answer some questions, and you will earn points, which you can exchange for vouchers. Make money by sharing your opinion on sites such as Rakuten Insight or on apps such as Milieu (Apple/Google Play).
Selling recipes is for those that love cooking and have mastered the art. If you have documented your cooking journey with photos and well-written recipes, you can make money out of it. You can sell your recipes on sites that pay for unique recipes. Websites pay from $50 per recipe or $1 per word.
Make sure they stand out by using unique ingredients and a brief introduction to your cooking services to sell your recipes. Look out for websites such as EatingWell that buy recipes.
An informational website helps people make informed decisions about various issues by providing important information. You can start an informative website on finance, technology, health or fitness.
Make money by collecting donations or having ads on your website. The website will require some work before you can start earning an income. You have to convince readers that you deserve their support.
Freelancing is one of the best ways to earn money online in Singapore. Web designers, accountants, and writers can earn extra income by starting a freelancing business.
You can make money if you have a flair for the written word. Create blogs, newspapers, and magazines for business and earn extra income. As a writer, you can earn up to S$500 for a 1,000 word article.
Freelance designers can charge S$5,000 or more to design a website for business. As the world embraces the internet of things more, there are more businesses that require web designers. You can set up your website to showcase your portfolio or visit sites like Upwork and bid for work.
You can also earn extra income with one or two bookkeeping clients. With so many businesses setting up in Singapore, there is a demand for bookkeepers. If you have bookkeeping knowledge and skills, you can make over S$1,000 per month.
If you’re creative and good with your hands, start making crafts and selling them on Etsy or your Instagram/Facebook page. Design products such as pouches, earrings and headbands. The side income you make will be determined by how you price your products.
Livestreaming has become an in-thing over the years, with people signing to TikTok and BIGO LIVE. You can sell your products over livestream or advise your followers on products they can buy and earn at least S$50 every month. Livestreaming is an easy way to earn money online for those with talent.
Singaporeans can sign up for BIGO LIVE and start growing their followers. You will receive virtual diamonds, which you can exchange for $0.3474.
Affiliate marketing provides you with an easy way to earn a passive income. You receive a commission for every sale you make from promoting commodities. The best way to start affiliate marketing is by using your social media platforms. Promote the products through your social media and encourage your followers to buy through your link to earn some commission.
The income you make from affiliate marketing depends on your products. Look out for fast-moving goods to earn you good commissions. You can invest in setting up a website to review products and give your followers more information on the products.
Pro-tip: Set up a Linktree to consolidate all your social media and affiliate links in one accessible place.
You can earn S$11 per hour shopping for groceries, and if you can deliver, that can go up to S$20 per hour. There are websites that pay you to shop for their clients. They will give you a list of things to shop for and deliver.
Supplement your income by offering babysitting services. This opportunity is best for those with a certification in childcare and who love babies. Start by letting your family and friends know you are offering babysitting services. Indicate the hours you are available and the charges.
Before you set your prices, do some research on babysitting fees. Make sure you charge a reasonable amount. Have a separate price for ad hoc babysitting services. You can earn S$25 per hour from babysitting services.
People who love animals can offer dog walking and pet sitting services. When offering pet services, you will be expected to clean, walk and play with pets. You can also provide pet boarding services to make more money.
Pet sitters can earn S$10 to S$45 per hour in Singapore. If you offer walking services, you can make S$15 per walking session. If you have an affinity for animals and want to earn some fast cash in Singapore, start an animal care side hustle.
This article was first published on SingSaver.