Are you feeling the pinch of Singapore’s rising cost of living and want to know how to make money in Singapore? You’re not alone.
According to a recent Department of Statistics Singapore report, household expenditure rose by 2.2% in 2023. A side hustle can be your secret weapon!
It is a flexible way to earn extra cash, develop in-demand skills, and even meet new people.
While learning to invest in Singapore is a great idea, it’s not the only one that can help you make more money.
Here are 10 top side hustles perfectly suited for Singapore in 2024 to boost your income and fuel your financial goals.
Table of Contents
Factors to Consider When Choosing a Side Hustle
With many options, finding the perfect side hustle can feel like hunting a unicorn. Fear not, aspiring hustlers!
Here are some essential factors to unveil the side hustle that aligns with your unique skill set and goals and learn how to earn more money in Singapore:
1. Ease of Starting
How quickly can you launch your side hustle?
Content creation or social media consulting might require minimal setup, whereas house cleaning or personal training might involve licensing or certifications.
2. Cost of Starting
Consider any potential costs incurred for your side job, whether it could be an initial capital to invest in or any other future costs to sustain your side hustle.
Will you need to purchase specialised equipment or software?
Take into consideration any ongoing expenses like website maintenance or marketing materials to get a clear picture of your financial commitment.
3. Time Commitment Required
Be realistic about your available hours.
Ask yourself: do you have enough spare time outside of your main commitment to ensure you can complete your side jobs without feeling burned out?
Side jobs like pet sitting or online language tutoring often offer flexible schedules.
On the other hand, graphic design projects or coding gigs require dedicated blocks of time.
4. Skill Required
Identify your existing strengths.
Are you a coding wiz? Do you have a knack for crafting compelling marketing copy?
Understanding your skills will help you choose a hustle that leverages your talents.
If the side hustle requires new skills, consider the time and resources needed to learn them.
5. Profitability
Do diligent research on the potential income for different side hustles to learn how to earn more money in Singapore.
Consider project fees, hourly rates, and market saturation to ensure the chosen hustle aligns with your financial aspirations.
10 Proven Side Hustle Ideas in Singapore To Earn More Money
1. Online Tutoring
Estimated Earnings: S$20 – S$80 per hour
Leverage Singapore’s emphasis on academic excellence by tutoring subjects or specialised skills on platforms like Tueetor or Snapask.
Set your rates and schedule to suit your needs
2. Freelancing
Estimated Earnings: Highly Variable
Utilise your writing, design, or technical skills on platforms like Upwork or Fiverr, connecting with clients for project-based work. Earnings vary based on expertise and project complexity.
3. E-commerce
Estimated Earnings: Highly Variable
Transform your passion for crafting or finding unique items into an online store on platforms like Etsy or Carousell. Success hinges on product quality and marketing efforts.
3. Ride-hailing Driver
Estimated Earnings: S$20 – S$30 per hour
Enjoy flexibility and earning potential as a driver for services like Grab, Gojek, or Tada. Set your own hours and ferry passengers around Singapore.
4. Content Creation
Estimated Earnings: Highly Variable
Showcase your expertise or perspective on platforms like YouTube or Instagram, potentially earning revenue through advertising or brand sponsorships.
5. Online Surveys & Microtasks
Estimated Earnings: S$2 – S$5 per hour
Earn small amounts in your spare time by participating in surveys or microtasks on platforms like Amazon Mechanical Turk.
6. Odd Jobs & Services
Estimated Earnings: Variable
Offer your skills in handyman work, pet care, or house cleaning through platforms like TaskRabbit. Earnings vary depending on the service provided.
7. Data Entry & Virtual Assistant
Estimated Earnings: S$15 – S$30 per hour
If you’re organised, detail-oriented, and tech-savvy, consider becoming a virtual assistant (VA) or specialising in data entry.
Remote work opportunities abound on platforms like Upwork or Fiverr.
Depending on your skills and experience, your responsibilities might include data entry, email management, appointment scheduling, social media management, or even bookkeeping.
8. Home-based Baking or Cooking
Estimated Earnings: Variable depending on product and sales
If you have a knack for creating delicious treats or mouthwatering dishes, consider showcasing your culinary skills through home-based baking or cooking. Here’s how to begin:
- Identify Your Specialty: Whether it’s decadent desserts, healthy snacks, or authentic ethnic cuisine, pinpoint your niche.
- Choose Your Platform: Promote your offerings on social media platforms like Instagram or Facebook, or consider online marketplaces like Carousell.
- Adhere to Regulations: Comply with Singapore’s hygiene and licensing requirements for home-based food businesses.
With sought-after items or catering to special occasions, your earnings potential could be substantial. Remember, building customer loyalty through quality and service is crucial for long-term success.
9. Language Translation Services
Estimated Earnings: S$20 – S$50 per hour
If you’re fluent in English and another language, such as Mandarin, Malay, Tamil, or any other in-demand language, consider offering your translation expertise to businesses, individuals, or translation agencies.
Here’s how to find clients:
- Freelance Platforms: Use platforms like Upwork or Fiverr to connect with clients seeking translation services.
- Translation Agencies: Register with agencies specialising in your language pair.
- Direct Outreach: Approach businesses or individuals needing translation services within your niche.
With proficiency, accuracy, and cultural sensitivity, you can establish yourself as a trustworthy translator and command competitive rates.
10. Social Media Management
Estimated Earnings: Rates for managing multiple platforms for established businesses can range from S$500 to S$2,000 monthly.
If you have a knack for social media and a keen eye for content creation, consider offering social media management services.
What You’ll Do:
- Manage social media accounts (Facebook, Instagram, etc.) for businesses.
- Create engaging content (text, images, videos) relevant to the brand and target audience.
- Schedule and publish content consistently.
- Monitor online conversations and respond to comments and messages.
- Track and analyse social media performance metrics.
How to Get Started:
- Build Your Skills: Take online courses or workshops to learn about best practices in social media marketing.
- Create a Portfolio: Showcase your skills by managing social media accounts for friends or family businesses.
- Freelance Platforms: Look for social media management gigs on Upwork or Fiverr.
- Direct Outreach: Approach small companies in your network and offer your services.
Tips for Choosing the Right Side Hustle for You
1. Consider Your Skills and Interests
The key to unlocking a fulfilling side hustle lies within you! Take some time to brainstorm and create a list of your skills and interests.
Side hustling alongside your main job requires focus, so choosing something you enjoy is crucial. Remember, knowing how to earn more money in Singapore should not be as draining as your primary job.
Don’t feel pressured by the “huge extra chore” mentality. Instead, view this list as a treasure map to your side hustle potential.
Here are some questions you can ask yourself:
- Are you a wordsmith with a knack for writing?
- Do you thrive in the social media sphere?
- Are you a DIY master with a talent for creating?
- You may enjoy interacting with people or possess a marketing mind.
- Do you have musical talents or academic strengths?
Even seemingly simple skills like organisation or pet care can be valuable assets.
Jot down everything! This comprehensive list will spark ideas as you explore the vast world of side hustles.
2. Think About How Much Time You Can Commit
So, you’ve brainstormed a fantastic list of potential side hustles! Before diving in, consider the time commitment – a crucial factor for knowing how to earn more money in Singapore.
Be Your Own Timekeeper:
Take a realistic look at your current schedule and anticipate any future changes. How many days off do you typically have? Can you carve out dedicated side hustle time in the mornings, evenings, or weekends?
Striking the Balance:
Burning the candle at both ends isn’t the goal.
Determine a realistic number of hours you can dedicate to your side hustle each week.
This could be 5, 10, or even 20 hours – depending on your availability.
Energy Matters:
We all have peak productivity times.
Pay attention to when you have the most energy throughout the day. Are you a morning person ready to tackle tasks at sunrise, or do you find your creative flow blossoming at night?
Flexibility is Key:
If your schedule feels overwhelming, consider flexible work options. Perhaps you can squeeze in some side hustle time before your regular job starts.
Remember: Choosing a time-friendly side hustle allows you to maximise your energy on how to earn more money in Singapore while maintaining a healthy work-life balance.
3. Research The Startup Costs and Profitability Potential
Before jumping into your side job, planning your money wisely is important. Here’s how to figure out how much it’ll cost to start and if you can make enough money:
Starting Costs:
First, determine what you need to buy or pay for upfront, like equipment or advertising.
Also, think about how much you’ll have to spend regularly, like on keeping a website running. Make a budget so you know what to expect.
Making Money:
Research how much money people usually make in the type of side job you’re interested in.
Think about things like how much you’ll earn per hour or per job and whether there are already many people doing the same thing.
How Long It’ll Take:
Be patient and realistic about how long it might take for your side job to start making good money.
Here are some places you can get more info:
- Industry Reports: Look for reports from groups that study different industries. They can tell you how much money people usually make in certain jobs.
- Freelance Websites: Websites like Upwork or Fiverr can show you how much people charge for different kinds of work.
- Online Communities: Talk to other people who have side jobs in online groups. They can give you advice and share their experiences.
By planning carefully and researching, you can make smart decisions and have a successful side job that pays off!
4. Choose A Side Hustle That Aligns With Your Long-term Goals
While your side hustle can earn you some quick cash, you can also consider building it into a long-term career.
Here is why:
1. Learning Skills:
A side hustle can help you improve important skills related to your career goals.
For example, if you want to be better at communication, doing freelance writing could help.
If you’re interested in marketing, managing social media accounts could be helpful.
2. Testing Careers:
Having a side hustle lets you try out different careers.
Say you’re thinking about becoming a graphic designer.
You could start a small graphic design business on the side to see if you like it and if there’s a demand for your work.
3. Meeting People:
Your side hustle can introduce you to important people in your field.
You can make connections with clients, partners, or other people doing side hustles.
These connections could help you in your future career.
4. Creating a Portfolio:
Many side hustles let you build up a collection of your work.
This portfolio can be beneficial when you’re applying for jobs later on.
Remember: Picking a side hustle that matches your goals is like investing in your future. It helps you learn, meet new people, and develop skills that will help you in your career.
How to Get Started with Your Side Hustle
You’ve unearthed the perfect side hustle – one that aligns with your skills, ignites your passions, and fuels your long-term goals.
Here’s your action plan how to earn more money in Singapore:
1. Chart Your Side Hustle Business Plan
A 2023 Global Entrepreneurship Monitor report reveals that businesses with solid plans are 16% more likely to survive their first five years. Therefore, a well-defined business plan is your side hustle’s GPS.
Invest some time in outlining your goals on how to earn more money in Singapore – what do you hope to achieve with this venture?
Who are you trying to reach? Your target market is your North Star.
Finally, map out your marketing strategy – how will you get your side hustle noticed?
2. Gear Up for Success: Essential Tools
Investing in the right tools and resources can be a game-changer.
Here’s a breakdown of some key areas to consider, depending on your chosen side hustle:
- Project Management: Tools like Asana, Trello, or Monday.com can help you organise tasks, collaborate with clients (if applicable), and track your progress.
- Marketing: Free or low-cost options like Canva or Google My Business can help you create stunning visuals for social media or build a basic website to showcase your offerings.
Paid advertising platforms like Facebook Ads or Google Ads can be explored later for targeted marketing campaigns as your side hustle grows.
- Finance: Utilise free accounting software like Wave or Zoho Books to keep track of your income and expenses.
Understanding your financial health is crucial for making informed decisions about your side hustle.
- Industry-Specific Tools: Depending on your side hustle, specialised software or equipment might significantly improve your efficiency and output. For example, a freelance writer might invest in grammar checker software, while a virtual assistant might utilise transcription software.
3. Realistic Goals: Avoiding Burnout
Creating clear and doable goals is important to avoid feeling overwhelmed while knowing how to earn more money in Singapore.
Here’s how to make goals that help your side hustle using the SMART method:
Specific: Instead of vague goals like “make more money,” aim for something like “earn an extra S$500 each month for the next 3 months.”
Measurable: Figure out how you’ll know if you’re making progress. Try to put numbers on your goals, like “get 20% more followers on social media in the next month.”
Attainable: Don’t aim too high or too fast. Start with realistic goals and make them tougher as you improve.
Relevant: Make sure your goals match what you want to do with your side hustle. For instance, if you dream of being a full-time graphic designer, focus on building your portfolio or learning new design tricks.
Time-Bound: Give yourself deadlines to stay on track and stay motivated. For example, say, “I’ll open my Etsy shop by the end of this month.”
Remember, goals can change. Adjust them as needed based on how you’re doing, what’s happening in the market, or what skills you’re picking up.
By setting SMART goals and being flexible, you’ll have a clear plan for success and avoid burnout, which happens to many people with side hustles.
4. Spread the Word: Marketing Your Side Hustle
According to a 2022 Hubspot State of Inbound report, 70% of businesses credit effective marketing strategies with boosting their sales growth.
Effective marketing puts your side hustle in front of the right eyes!
Don’t be a best-kept secret!
Develop a marketing strategy tailored to your target audience through social media, online communities, or local events to showcase your skills and offerings.
Here are some ways you can market your side hustle effectively:
- Content Marketing: Share useful content like blogs, social media posts, or videos to show your expertise and become a go-to source for your audience.
- Social Media Marketing: Use platforms like Facebook, Instagram, or Pinterest to reach potential clients. Make exciting posts, run ads when you can afford it, and join online groups related to your niche.
- Networking: Connect with others in your field by attending events or reaching out to fellow side hustlers and entrepreneurs. Building relationships is key to success.
By following these steps and leveraging the power of planning, strategic investment, and effective marketing, you’ll be well on your way to side hustle success!
Success Stories of Side Hustles: Turning Passions into Profit
1. Sarah Lim: From Home Baker to “Bread & Bliss” Artisan
Accounting by day, pastry chef by passion – that was Sarah Lim.
Her exquisite creations, born from a home kitchen, garnered a devoted following.
Sarah transformed her humble beginnings into a thriving bakery, “Bread & Bliss,” delighting customers across the city.
2. Jonathan Tan: Trading Code for Content – The Freelance Writing Expert
Jonathan Tan’s true calling wasn’t confined to the IT world.
His passion for weaving words blossomed into a side hustle: freelance writing on diverse topics.
His exceptional talent for content creation soon gained recognition, ultimately leading him to ditch the corporate life and embrace a full-time freelance writing career.
3. Lisa Wong: From Marketing Guru to Virtual Fitness Trainer with “FitWave”
Weekend virtual fitness coaching sessions became Lisa’s side hustle, and her captivating workouts captivated a global audience.
This passion project eventually evolved into “FitWave,” a successful online fitness brand empowering people worldwide.
4. Michelle Lee: Educator by Day, “Azure Gems” Designer by Passion
Michelle Lee, an educator, possessed a hidden talent for crafting beautiful jewellery.
What began as a creative outlet selling pieces online blossomed into a flourishing brand.
Michelle’s distinctive designs imbued with elegance and artistry, have made “Azure Gems” synonymous with exquisite, handcrafted jewellery.
Conclusion
So, there you have it!
With this guide, you can learn how to make money in Singapore, from traditional part-time jobs to the booming gig economy.
Remember, the key is finding a side hustle that aligns with your skills and schedule.
Do your research and get ready to join the nearly 50% of Singaporeans, according to a 2023 YouGov survey, who embrace side hustles and turn theirs into success stories!
