5 Ways to Make Extra Income in Singapore

5 Ways to Make Extra Income in Singapore

 

We have a lot of members asking about how to earn more money in Singapore.

Most of them are working full time jobs though and a plethora of online 'part-time' jobs have left the questioner more perplexed. Assuming that you already have a full time job and would like supplementary income, we have asked around our online population and here are the TOP extra money makers:

1. Online jobs. These range from filling out surveys to online networking (beware of the latter as it is quite easy to get involved but hard to pull away) but are so far the most lucrative. Some members say they are easy due to low commitment, true - your earning would depend on your production and your production depends on the amount of time you put into the task and we all know that time is gold. Best for people who do not have day jobs such as free lance workers, homemakers and students. Recommended: AIP Online Surveys, Toluna

2. Errands apps. If you do not have anything to do in the weekend and you also do not want to be stuck indoors, why not do errands for other people. You can try shopping for the old auntie next door or do random errands like pet-sitting. If you are a usual jet setter, spare some luggage space and carry bundles/parcels from SG to your destination for a price! Not for people who have stressful day jobs as these tasks can be demanding. Recommended: Honestbee, Tompang, The Butler

3. Stock market investment. There are apps where you can invest as low as $100 on your choice of stocks. Beware if you are not knowledgeable though as the market is tricky and the idea of losing all your bet is risky. We recommend to try the offline game first to get a feel of the app. Best for people who like to make money in a short time, even just 10 minutes every day can generate income, downside is that you have a 50% chance of losing 100% of the money you invested. Not for people who want passive income as these apps need your time, attention and market research skills in order for you to make money. Recommended: IQ Option, CFD Trading

4. Investment-linked policy (ILP). This is the only passive income money maker with an attached insurance protection today. Best for people who would love to invest and make sure that their family or investments are protected as well as enjoying their time in their own way. Best for both expats and locals as investments are international and protection coverage is worldwide, 24/7.  So instead of paying $100 for monthly movie marathons, let your money earn for you by getting an ILP. Not good for people who wants big cash in a short period of time. For high risk takers, see #3 where you gamble all your money with zero protection. Recommended: J.S Tan

5. Joining focus groups. If you love to meet new people, build a common connection and share your opinion on matters that interest you, then this can be your new Saturday night plan. Focus groups are a part of market research and they pay you for your time and chattiness. Not for introverts and people who wants a weekend of rest and relaxation. Recommended: Infocus Group, Focus Group Singapore

We are quite sure that there are more ways to make money in SG but the ones listed here are the easiest to find and do, with the pros and cons of course. Happy extra income hunting!


Posted in Living in Singapore, Updates | Tagged | Posted on November 13, 2017