7 ways to make extra income on the side
There are essentially 2 ways to have more money – either you save more from your existing salary, or you can try to increase your income. While asking for a pay rise may not always be feasible, you can always look for side gigs that can earn you some extra allowance. Whether it is to clear off your debt faster or simply wanting to put aside more money for a rainy day, there are dozens of ways to make earning extra money painless, and even an enjoyable process. The key is to find something you like to do and turn it into an income-generating side income. If you have some extra time on hand and want to make some money instead of wasting your time in front of your TV, here are seven ideas for you.
1. Sports instructor
Do you already do sports after your work every other day? Or are you a yoga-obsessed person who does yoga almost every day? If sports is your religion and you are pretty good at what you do, why not consider getting yourself certified and teach what you love? In fact, there are even certain sports activities where you don’t need formal certificates, such as salsa dancing. If you already enjoy doing such activities on a regular basis, why not turn it into an income-earning hobby?
Have an eye for beautiful angles? Already own a DSLR camera? If you’ve always loved taking pictures, you can turn it into a weekend job. Do however note that certain types of photography may get you more jobs than others, and it probably can be beneficial if you’ve got someone in the industry to hook you up for gigs. Probably a more lucrative one would be wedding photography, events photography or even making drool-worthy food photos.
3. Freelance jobs online
Specific skillsets such as being good at writing or having designing skills can easily get you jobs that you can work remotely from home. If you can design websites, logos, or write amazing web copy, do register yourself on one of the many freelancer websites online. You might need to start off at a lower rate to improve your portfolio but if you get active and produce great work, it can even turn into a full-time career?
4. Teach Tuition
One of the most popular jobs for many undergraduates, teaching tuition is indeed a lucrative side job. Even someone without much experience will be able to command an average price of $25 per hour. Just by teaching a 2-hr session per week for a month will give you an extra $200! If you have more time and experience, group sessions can increase your hourly rate tremendously!
5. Make good use of your car
Cars are ridiculously expensive in Singapore, but some find it indispensable. For instance, if you are working a sales job where you’d need to cross the island every other day, it probably makes sense to own a car. Now becoming a part-time driver with Uber and Grab is obviously no longer something new – many Singaporeans are seeing the benefits of earning some extra cash with their under-utilised vehicle, as well as loving the flexibility for them to drive whenever they are free.
Other than that, there are other ways to monetise your car – how about performing some errands for others and be paid with it? For instance, an app call Laborme allows one to earn money by performing tasks for others. Such tasks include shopping for last minute gifts, queueing for tickets or just a simple parcel/document delivery. Other than that, you can also allow advertisers to use your car as an advertising space and get paid for it!
6. Sell home-cooked food
Love baking and cooking in your free time? Instead of forcing your family to keep stuffing their faces with your wonderful baked goods, why not turn that hobby into something profitable by selling them? Especially so that prices for CNY goodies and cakes are exorbitant these days, you could garner a good following if your food is decent and has good reviews. The good thing is that if you keep it small-scale, there’s no need for licensing as well!
7. Rent out a spare room
Our homes are probably one of our biggest financial assets in Singapore. If you happen to have a spare room and need some extra cash, why not consider renting out your spare room to someone? If you live alone, you might even enjoy the company! Depending on your location, type of dwelling and amount of space, a single room in a HDB can be rented out for around $400-$700 per month.
As you can see, making an extra income on the side does not always have to involve working long hours – it can be something you enjoy or simply monetising your under-utilised asset. So if you are complaining about “money no enough”, you’ve got no excuses now!