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Anonymous

18 Mar 2021

Random

How do I earn more money?

I am a 26 year old individual and I have only started saving since last year. I believe I have about 4.5k in cash and about 5k in investments. I am quite lost with adults life and I don't know what to do.

I am currently working and studying at the same time. I have no idea how to make financial choices and I feel like I make bountiful harvests of bad choices.

Discussion (4)

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Do some side hustles :

  • part time job
  • food delivery
  • tuition?

Read more online!!! There’s a lot of information, but don’t worry!!! Slowly, read a little everyday! Jiayou!!

If you don’t have time to commit -> you can consider Robo-Advisors or put your money into high interest savings account! :)

JeffreyLeeZQ

18 Mar 2021

Writer at Jeffreyleezq.com

If your results decent, give tuition.

If your results not so decent, find a side hustle.

Train to get IPPT gold during reservist for that $500, and strive to complete your ORNS cycle asap so you get the ORNS award into your CPF (up to $3,500 once mid-ORNS completed, and another up to $3,500 once ORNS fully completed).

You mentioned you are 26 year old, so upskill yourself with your Skillsfuture credit (You should have $1,000 inside now if you haven't used it yet) and stay relevant so that you can be ready when the opportunity comes, such as a promotion or a new opening.

Unfortunately there is no easy way to earn money lol.

You can however, put your hard-earned money to good use by investing right lol.

If you are looking at investing, you can consider the following:

  1. Passive Index ETFs,

  2. Robo-Investors;

  3. Regular Savings Plans

I personally recommend the first one option since it has the lowest cost.

You would also want to consider between Growth investing and Dividend investing as both are different forms of wealth accumulation. If you are interested you can check out an article I wrote previously here about their differences: Growth Investing or Dividend Investing?

Cheers and don't feel down already lah. :)

- Jeffrey (jeffreyleezq.com)

Zac

02 Mar 2021

Noob at Idiots Invest

Hallo!

It's perfectly normal to feel overwhelmed when you are starting off on your personal finance...

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