Markets by TradingView
Hey, it’s Bruce again. I recently caught up with an old friend, and he told me all about his recent holiday to see the Northern Lights.
Okay, I’ll admit it, I was a little envious hearing all about his luxurious vacation, but it got me thinking: wouldn’t it be nice to be able to splurge on such trips as and when I want?
But first, I will have to first find a way to earn money. More money.
And so that was how I started researching all about side hustles in Singapore.
Whether you're looking to supplement your primary income or save up for a special occasion, side hustles offer excellent opportunities for extra money.
So join me as I explore some of the best side hustles in Singapore that can help you earn an additional $2,000 or so every month, allowing you to attain financial stability, and even explore new opportunities for personal growth and development.
A side hustle refers to a part-time job or business venture that an individual undertakes in their free time alongside their regular employment to earn extra income.
Side hustles in Singapore have become more popular in recent years As the concept of early retirement gains momentum, the value of diversifying income sources has become widely recognised, prompting individuals to seek supplementary streams of earnings through side hustles.
These ventures can be pursued in various forms, including online work, freelancing, or part-time gigs, and they can be both skill-based and passion-driven.
Side hustles can be a stepping stone towards entrepreneurship, providing individuals with valuable experience and insights into running a business. It can also steer you towards the direction of your dream career, or spark a new business idea!
Here are some of the best side hustle ideas in Singapore that you can explore doing to earn money.
The demand for online tutoring or coaching in Singapore has increased significantly, especially with the rise of remote learning. Given the emphasis on academic achievements in the country, it is no surprise that more students are seeking additional academic support, and parents are willing to invest in quality tutoring services. Of course, while proficiency in the various school subjects is important, a certain level of teaching skills are also required to be a tutor.
Hours of work: You can choose flexible hours that suit your schedule. Evenings and weekends are typically peak times for tutoring sessions. Just make sure you have a stable internet connection during those times!
Potential income: Earnings depend on the subjects taught and your experience level. Online tutors typically earn $20 to $50 an hour, but those with more experience can earn over $100 an hour. Try asking around different tutoring companies to see which offers their tutors the best rates.
Market Demand: The demand for tuition services is high, especially for core subjects like mathematics, science, and languages.
The demand for freelance writers has grown as many businesses seek quality content for their websites, blogs, and marketing materials. You will need strong writing skills and the ability to adapt writing styles for different niches to be successful in this field. It would help a lot too, if you inherently enjoy writing!
Potential Income: Freelance writers can earn anywhere from $100 to $800 per article, depending on the complexity and length of the content, the experience of the writer, and the effort it requires to collect information (e.g. interviews, research etc).
Market Demand: The market demand for freelance writers remains steady as more businesses recognise the importance of high-quality content and the power of the written word.
Social media marketers help businesses with digital marketing by building their online presence and engaging with their target audience effectively, which means it is important to be customer-centric. While the hours for social media marketing can be flexible, it may require monitoring and responding to posts at odd hours. Nonetheless, it is one of the best ways to earn money online.
Potential income: Social media marketers can charge $500 to $1,500 per month per client, depending on the scope of work.
Market demand: With the ever-growing reliance on social media for content marketing, the demand for skilled social media marketers has reached new heights. In fact, studies show that over 90% of businesses now actively use social media platforms for digital marketing, whether it be to promote their products or engage with their target audience. Moreover, with the emergence of newer platforms like TikTok and Threads, companies are seeking guidance to break into these untapped markets and harness their potential for brand exposure and growth.
Graphic designers are sought after to create visually appealing designs and high quality images for various purposes, including marketing materials, websites, and logos. They are at the forefront of creating eye-catching and memorable designs that resonate with target audiences. Proficiency in graphic design software and a creative eye are essential for this side hustle.
Potential income: Graphic designers can earn $30 to $100 per hour, depending on their expertise and complexity of the project.
Market demand: In the digital age, where visual communication plays a pivotal role in capturing the attention of audiences, businesses have come to realise the undeniable significance of impactful visuals in their marketing and branding strategies. Therefore, the role that graphic designers play in brand building and marketing success is key for most companies - especially an e-commerce business - so the demand for their services remains steady.
Delivery riders, serving as the backbone of the logistics and food delivery ecosystem, have become indispensable in meeting the growing demands of today's fast-paced society. Delivery services offer flexible working hours, making it suitable for those looking for part-time opportunities.
Potential income: Delivery riders can earn around $10 to $25 per hour, depending on the number of deliveries completed. A food delivery rider can earn even more, if they use a vehicle that does not require them to pay for petrol or parking.
Market demand: As consumers increasingly embrace the convenience of online shopping and food delivery, the demand for delivery services has increased significantly. There are multiple e-commerce platforms in Singapore which require delivery riders, including Grab, Foodpanda, Deliveroo, Lalamove, and more.
The rise of remote work has led to a growing demand for virtual assistants who can assist businesses and entrepreneurs remotely in their administrative tasks. Organisational and communication skills are essential for virtual assistants, along with proficiency in various software and tools such as Microsoft Office, Google Suite, project management platforms, and online collaboration tools.
Potential income: Virtual assistants can earn $20 to $40 per hour, depending on their skill set and the scope of tasks, as well as the size of the organisation.
Market demand: One of the key drivers behind the rising demand for virtual assistants in Singapore is the need for seamless communication and coordination in remote work setups. As teams collaborate across different time zones and geographical locations, the role of virtual assistants becomes indispensable in ensuring smooth interactions, managing schedules, and facilitating real-time updates.
Affiliate marketers promote products or services and earn a commission for every sale made through their referral links. Affiliate marketing requires minimal investment and can be done from the comfort of your home.
Potential income: Earnings from affiliate marketing can vary widely, from a few hundred dollars to several thousand dollars per month.
Market demand: As e-commerce grows, more companies are turning to affiliate marketing to expand their customer base. One of the primary reasons why affiliate marketing has gained traction in Singapore is its ability to deliver measurable results. Businesses can track the performance of each affiliate and assess the effectiveness of their marketing efforts in real-time. This data-driven approach allows companies to optimise their campaigns and allocate resources strategically, maximising their return on investment.
Content creators and livestream influencers produce engaging and entertaining content on platforms like YouTube, TikTok, or Instagram, or even their own website. Creativity and the ability to connect with the audience are crucial for content creators.
Potential income: Content creators can earn through sponsorships, brand deals, and ad revenue, with earnings varying widely. In general, the more views, followers, and subscribers one has, the higher the individual’s income will be.
Market demand: Singaporeans have readily embraced social media platforms as an integral part of their daily lives. As such, the demand for content creators and livestream influencers has witnessed a remarkable surge, becoming a driving force in the realm of modern marketing and brand promotion.
An online translator provides language translation services for individuals and businesses with international clientele. The top languages commonly translated in Singapore vary depending on the region and specific needs of individuals or businesses.
Potential income: Translators can earn around $30 to $100 per hour, depending on the complexity and rarity of the language. Now that is a pretty sweet deal!
Market demand: For businesses operating in Singapore, translation services play a crucial role in breaking down language barriers. Whether it's translating marketing materials, legal documents, or product descriptions, accurate and culturally sensitive translations are essential for conveying messages effectively and resonating with diverse audiences. As Singapore is a diverse hub for businesses and cultures, the demand for such a service remains steady.
E-commerce and drop shipping businesses involve selling products online without the need for inventory management. Entrepreneurs can set their working hours, but initial setup and marketing may require more time.
Potential income: E-commerce entrepreneurs can earn substantial profits, but success depends on product selection and marketing efforts.
Market demand: As consumers increasingly embrace online shopping for its convenience and variety, businesses are responding by ramping up their capabilities to cater to this growing demand. With the government's backing and a vibrant marketplace, the industry is poised for continued growth and prosperity in the digital age.
To maximise the potential of your side hustle and ensure its success, adopting a diligent work ethic, employing smart strategies, and, at times, being willing to make sacrifices are necessary.
Here are some tips I found that can help you achieve success with your side hustle.
Time management is key: Juggling a side hustle and a full-time job requires effective time management. Spend a reasonable amount of time on your side job, and ensure it does not interfere with your day job. Create a schedule that accommodates both commitments without compromising on your well-being.
Identify your niche: Find a side hustle that aligns with your specific skills, interests, and passions. This will not only keep you motivated but also increase your chances of success.
Set realistic goals: Set achievable goals for your side hustle, whether it's earning a specific amount of extra money each month or building a certain number of clients within a designated timeframe. In contrast, setting unrealistic goals for yourself can put unnecessary pressure on you.
Learn and adapt: Stay updated with industry trends and continuously improve your skills to stay competitive in the market. Aspire to become one of the industry experts so companies will seek you out to offer you a side job.
Financial planning: Separate your side income from your primary income and create a budget to manage your finances effectively. Don’t let all your effort go to waste by mismanaging your finances!
Emphasise personal branding: In the competitive world of side hustles in Singapore, standing out from the crowd can significantly impact your success. One way to achieve this is by investing in establishing a unique identity and reputation for yourself, showcasing your skills, expertise, and values to potential clients or employers.
With a wide range of side hustle ideas and options available, there are multiple ways for you and me to leverage our skills and interests to earn extra cash or generate passive income streams.
By following the tips above and staying abreast of market trends, we can maximise our earnings potential, achieve our financial goals, and find success in our chosen side hustle.
But remember, the side hustle culture in Singapore is more than just a quest for extra income; it is also a journey of personal growth, a pursuit of passion, and the opportunity to explore and tap into our entrepreneurial spirit.
And honestly, I can’t wait to begin already. So, till the next time, happy side hustling!
Bruce EZ
