03 Jul 2023
However i have investments in stocks, bonds & FDs. Can that be counted because i really don't know what else i can do?
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11 Jul 2023
Financial Planner for Locals & Expats at TallRock Capital
Having a side hustle can indeed be a beneficial way to diversify your income and potentially increase your financial stability. While it's common to associate side hustles with talents or specific skills, it's important to remember that there are various ways to generate additional income.
Investments such as stocks, bonds, and fixed deposits can be considered a form of passive income. They can generate returns and contribute to your overall financial well-being. However, it's important to note that investments come with their own risks and may not always provide immediate or consistent income.
If you're interested in exploring other avenues for a side hustle, consider the following:
Identify your interests and passions: Think about activities or hobbies that genuinely interest you. It could be anything from writing, photography, graphic design, or even tutoring in a subject you excel in. Identifying your interests can help you discover potential opportunities for monetization.
Leverage online platforms: The internet has opened up numerous opportunities for side hustles. You can explore freelance work, create an online store, or even start a blog or YouTube channel focused on a topic you are knowledgeable about. Online platforms provide access to a wide audience and potential customers.
Utilize your existing skills: Consider your professional expertise or skills gained through your current job. You can offer consulting services or coaching in your field, freelance in areas related to your expertise, or provide training workshops or webinars.
Rental or sharing economy: If you have any assets or property, you can explore renting them out on platforms like Airbnb or sharing economy platforms. This can generate additional income with minimal effort.
Gig economy: Explore gig economy platforms where you can offer services on a flexible basis, such as driving for ride-sharing apps, delivering groceries, or offering handyman services.
Remember, side hustles don't necessarily have to be extravagant or require extraordinary talent. They can be as simple as leveraging your existing resources and finding creative ways to generate additional income. The key is to find something that aligns with your interests, fits your schedule, and offers a reasonable return on your time and effort.
It's important to research and understand any legal or tax implications associated with your chosen side hustle. Additionally, balancing your main job, personal life, and side hustle requires effective time management and prioritization.
Ultimately, the decision to pursue a side hustle is personal and depends on your circumstances and goals. Assess your skills, interests, and available resources to identify potential opportunities that align with your values and financial objectives.
10 Jul 2023
Consultant at Sprinklr
Have to really think about whether its good to have - will you have sufficient rest and energy, will you be able to do well in your main job, will you be missing out in other aspects of life?
Have a balance, and continue to look at exploring your interests
Do what makes you happy and great to invest on yourself too
Javier Tan Yan Kai
09 Jul 2023
Actuarial Analyst at AIA
Good but not must have.
Is Trading options a side hustle ? Started last year and past 3 months manage to earn 200 usd per mo...
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