3 Ways to Earn Side Income in Singapore
Updated: Apr 8
Ever wondered how you earn some extra money? Say you're saving up for a gift or repaying off a loan, earning some side income can be very beneficial, especially if you have some free time. Below, we will list some common ways that Singaporeans are leveraging on to earn some side income.
With COVID-19 in 2020 disrupting the job market, some industries such as e-commerce have seen massive growth and demand. With the increased demand for such services, companies ranging from large enterprises to small startups are increasingly looking to outsource various workloads to a remote workforce. Find below some examples that companies are constantly hiring for:
Social media marketing and account management
Web design and development
Content writing and copywriting
While these jobs do require some set of skills (such as web design), they have a relatively low barrier of entries as compared to other more niche industries (3D printing, app development etc.). A good way to get started that we recommend, would be to find gigs through family and friends first, before scaling up into freelancer platforms such as Fiverr and CultJobs.
Doing paid surveys or attending research studies is a very common way for Singaporean University students to earn income at their convenience, usually after scheduling with a researcher. Platforms that help participants easily find such studies include ReSieve, NTU Paid Studies / Survey and NTU/NUS paid survey.
If you do not have too much spare time at hand, we found that investing is another viable way to earn money. For those completely new to the stock market, a relatively safe way to get started would be to invest through a wealth management platform, such as Endowus and StashAway. These platforms have relatively low barriers of entry, with StashAway not requiring a minimum amount to get started, and have relatively good performance (with StashAway attaining up to 20% in gross returns in 2020)
While the world has changed a lot since COVID-19, there are still a lot of opportunities out there for Singaporeans, waiting to be discovered. Do let us know what are your thoughts and feel free to leave some ideas on how you earn some income below!