If you're like most people, you want a better life for yourself and your family -- but it's not always easy to come up with that much-needed cash flow boost. In fact, many of us are so busy juggling our day jobs, families, social lives, etc., we barely have time to think about how to make more money on the side.
But don't worry! There are plenty of ways to earn some additional income (or even replace or supplement existing ones) without having to devote too much time away from work. Here are four such options.
One great option if you live near other freelance professionals is offering consulting services as well as freelancing online. This is perfect for those who love working independently while creating their own schedule. You can offer consulting services in anything ranging from graphic design to website development to SEO writing to accounting.
You can also set your own prices instead of accepting whatever clients give you. To find potential customers, use platforms like Upwork, Fiverr, PeoplePerHour, Guru, Elance, ODesk, iProspect, Indeed, JustWorkForCoaching, Amazon Mechanical Turk, etc., depending upon what kind of service you would want to provide. These sites will help connect you with local businesses, individuals, organizations, and government agencies across all industries.
2. Start Your Own Business
Another excellent way to generate quick revenue is starting your own business. If you’ve got unique skills, experience, passion, knowledge, expertise, connections, contacts, resources, ideas, vision, creativity, products, offerings, inventions, patents, copyrights, trademarks, etc., then this could be a good choice.
It may take months or years before you start seeing any returns, but once your new venture begins generating profits, they'll keep coming in regularly—and faster than ever. Remember, there's no guarantee that you'll succeed at inventing something revolutionary or building a successful startup company. But when things go wrong, you won't get burned financially, which is why entrepreneurship has become one of today's hottest careers.
3. Sell Goods Online
Selling stuff via eBay, Craigslist, Facebook Marketplace, Offerup, Gumtree, etc., is another effective method of earning fast bucks. For example, consider selling items on popular marketplaces like Etsy, Depop, etc., or try listing them on websites like AliExpress, Asos, Wish, etc. In addition, you can sell goods directly to buyers through various apps including WhatsApp, Telegram, Viber, WeChat, Line, KakaoTalk, Skype, Google Hangouts, etc.
4. Rent Out Items
Do you have unused assets lying around your house or office space? Then renting them out might just be the answer to your financial woes. It doesn't matter whether these items are furniture, books, bicycles, power tools, vehicles, appliances, electronics, sports equipment, jewelry, art pieces, antiques, clothes, musical instruments, computers, tablets, mobile phones, TVs, cameras, camcorders, video games consoles, game controllers, sewing machines, cars, boats, pianos, guitars, drums, lawn mowers, snow blowers, rakes, shovels, gardening hoes, garden tractors, grills, BBQ grills, air fryers, washing machines, dishwashers, dryers, refrigerators, furnaces, fans, vacuums, window screens, etc.
The sky really is the limit here. All you need to do is contact local vendors, explain what you have available, negotiate the rental fee, and collect payments accordingly. And remember, landlords usually prefer long-term rentals over short-term leases.
5. Get Paid to Take Surveys
A third possibility is getting paid to participate in surveys. Although these offers only pay between $0.50-$10 per survey, the upside is that you can complete several surveys each week without spending too much time. The downside is that you’ll probably receive small amounts of payment until you reach the minimum payout threshold.
On the bright side, you can join focus groups and product testing programs. However, these opportunities require more commitment since you’d often spend hours interacting with strangers. Also, these gigs typically pay less than $20 per hour.
6. Tutoring Others
Tutoring others is yet another simple means of making extra money. Depending on where you live, you can tutor students at home, schools, universities, colleges, etc., either privately or by joining tutoring networks. One advantage is that you can choose exactly whom to teach based on age group, subject interests, location, skill level, availability, etc.
7. Become a Virtual Assistant
As its name suggests, becoming a virtual assistant allows you to assist someone else remotely. Typically, VA assignments include administrative tasks, data entry, research projects, proofreading, customer support, translation, scheduling appointments, photo editing, web designing, event planning, blogging, marketing, sales calls, ecommerce orders, project management, bookkeeping, invoice creation, legal contract drafting, document formatting, transcription, medical record keeping, payroll processing, etc.
Although it takes longer to learn the ins and outs of being a virtual assistant, the flexibility it provides helps increase productivity levels significantly. Moreover, you can expand your network of potential employers by participating in different affiliate programs, joint ventures, referral schemes, etc.
8. Be a Test Subject Yourself
Becoming a test subject requires little effort and minimal cost. Simply visit clinical trials registration databases such as ClinicalTrials.gov, EUclinicaltrials.eu, USClinicaltrials.gov, UKCorticismsuk.co.UK, CanadaHealthResearchOnline.ca, Clinical Trials Australia, OpenTrials.org, etc., search for relevant studies, fill in application forms, sign consent documents, undergo screening tests, and finally donate excess blood samples.
9. Be a Mystery Shopper
Getting paid to shop isn't uncommon nowadays, especially in big cities. So if you enjoy going shopping and talking with store personnel, mystery buying could be right for you. Basically, mystery shoppers rate retail stores based on criteria such as cleanliness, food quality, staff friendliness, delivery speed, billing accuracy, security measures, etc.
Once you register with companies such as Zommerang, Mystery Shopping Africa, PQAPP, Global Mystery Shop Association, Mystery Shoppers International, etc., check out detailed instructions regarding eligibility requirements, training sessions, travel arrangements, compensation plans, benefits, bonuses, etc.
Aside from the abovementioned methods, there are numerous other ways to add value to others' daily routines without necessarily putting in lots of sweat equity. Consider taking part in activities such as dog walking, pet sitting, cycling, driving, cooking, cleaning, ironing, babysitting, landscaping, photography, decorating, catering, etc.
Alternatively, you can simply invest into startups, real estate investments, Forex trading, cryptocurrency mining, advertising campaigns, internet marketing, investing, crowdfunding, etc. While none of these methods promise instant riches overnight, at least they allow you to create passive streams of residual income.
There are two main types of side hustles: 1) low risk, high reward deals (e.g., selling insurance policies), 2) higher risk, lower return strategies (e.g., flipping domain names). Both kinds of opportunities should ideally complement your current lifestyle rather than replacing it completely. On average, it takes 12 weeks to turn a profit after setting up a new gig.
To avoid wasting time pursuing unproductive endeavors, concentrate on finding realistic side hustle ideas that align with your personality type, goals, strengths, weaknesses, passions, interests, hobbies, talents, career aspirations, finances, etc.
Here are five lucrative ways to earn some extra cash on the side:
Be an Uber driver.
Set up a blog and monetize readership.
Start an Instagram page and drive engagement.
Create digital content calendars.
Teach English as a foreign language.
Rebranding other peoples' domains.
Depending on where you live, there are three basic sources of extra money: personal loans, grants, and bartering systems. Personal loans are relatively easier to obtain compared to bank loan approvals. They essentially involve borrowing funds from friends and relatives instead of traditional lenders.
However, you must repay back your borrowed amount plus interest within 3 to 10 days. Most loans last anywhere from 6 to 24 months. Apart from monthly repayment fees, borrowers usually pay back lump sum installments annually.
Grants are awarded by governments, charities, philanthropists, NGOs, private foundations, corporations, societies, clubs, associations, community leaders, religious institutions, civic organizations, communities, etc., according to applicants' needs and applications. Grants range from RM500 to millions of dollars.
It's easy for anyone with a smartphone and internet connection to find part-time or full-time work online nowadays. There are hundreds of apps, websites, newsletters, forums, and other platforms that will help you search for different types of opportunities.
But how do these programs actually pay off when it comes time to cash out? Are they worth pursuing if you're already working another job? If so, which ones should you focus on first? And what would be the best way to earn some quick pocket change while still keeping your current schedule?
To answer all those questions, we've put together this list of ways to make money fast in Malaysia. It doesn't matter whether you live here permanently or only come through once every few years -- there'll always be something new going on!
There are several popular methods that most people use to start earning more money in Malaysia, including freelancing, buying & flipping items, investing, and even starting their own business. Here are just a handful of ideas to consider exploring further.
Freelance Jobs Online
If you have basic computer skills and enjoy creating content, then freelance writing may interest you. You could become an independent writer by selling articles on topics related to travel, sports, entertainment, health, relationships, etc., via sites like Fiverr.com. Alternatively, you could try posting ads about yourself as a potential employee at various places such as Upwork.com where clients can request specific services.
You might not want to spend too much time doing freelance writing since it takes quite a bit longer than regular employment (at least two weeks) before getting paid. But don’t worry because there are many other options available if you prefer being compensated faster. For example, you could sell products on Amazon or eBay instead of waiting until someone buys them directly from you. Or perhaps you'd rather buy & flip items locally instead of shipping everything overseas.
Sites like Offerup.net allow individuals who wish to host events to advertise listings for others willing to attend. These kinds of gigs usually require little investment but need lots of planning ahead of time. Another option is renting your spare room and turning it into a temporary accommodation unit for tourists. This can bring in enough revenue to cover your monthly bills and maybe even leave you some leftover profit.
Buying & Flipping Items Locally
This one involves purchasing goods cheaply from vendors and reselling them for higher prices. Some common examples include opening up a clothes stall at local markets, running car boot sales, selling secondhand books, or sourcing antiques to refurbish and re-sell at flea markets. However, it is important to note that there are certain risks involved such as theft and damage during transport. Therefore, it’s wise to seek professional advice before diving right in.
Investing Money Locally
Another method is to invest money in mutual funds, stocks, bonds, property, commodities, forex trading, etc. According to Investopedia, “investment returns aren’t guaranteed, although past performance does offer clues about future results... [and] losses in any given market occur regardless of long-term trends.” To minimize risk, experts recommend putting aside 10% of your earnings each year for emergencies.
Starting Your Own Business Locally
Whether you choose to set up a small retail store, create art pieces, open a café, run a catering service, or manage a hotel, entrepreneurship often requires a significant amount of capital and expertise. That said, it has its advantages too. In addition to offering better flexibility and autonomy over your hours, starting your own company also allows you to build equity which increases in value over time. As a comparison, owning rental properties typically yields lower profits due to high maintenance costs.
Once you know what type of gig suits you best, the next step is deciding which platform(s) to explore further. Below are numerous avenues you can pursue within Malaysia itself.
Become A Local Tour Guide/Driver
If you're knowledgeable about attractions around town, locals will definitely appreciate having an expert guide taking charge of their itineraries. One popular choice includes becoming a driver for Uber or Grab drivers. Aside from the possibility of making ends meet, driving for ride sharing companies offers benefits such as flexible schedules, unlimited mileage, and potentially earning incentives.
However, keep in mind that both Uber and Grab take care of insurance coverage, vehicle registration fees, fuel consumption tax, road tolls, parking charges, etc. So you won't necessarily end up saving anything compared to traditional taxis. Also, check out our breakdown of pros and cons between Uber vs. Grab.
Teach Others English At Home
As mentioned earlier, it's possible to rent out your home temporarily to students from countries worldwide. This gives visitors a chance to learn conversational Malaysian phrases and practice speaking English without feeling overwhelmed. Take advantage of this opportunity while it lasts!
Start An Ecommerce Store
With e-commerce booming across Asia, there are plenty of ways to turn your hobby into passive income. Start an Etsy shop selling cute accessories, handmade clothing, unique gifts, vintage jewellery, crafts, artwork, etc. Keep in mind that setting up an online presence isn't cheap though, especially if you plan to hire workers for customer support. Be prepared to shell out at least $500-$1000 depending on factors like location, traffic flow, product quality, availability of suppliers, website design, marketing strategy, etc.
Earn Income From Writing Blog Posts
Blogging can be profitable, and one great way to begin generating income quickly is by blogging for other businesses. If you have relevant knowledge or experience in areas such as fashion, beauty, technology, finance, fitness, food, pets, cars, DIY projects, etc., think about pitching stories to media outlets, magazines, newspapers, radio stations, TV channels, social networks, etc.
Also, see if you qualify to write blog posts for other brands. Sites like Freelancer.com, Indeed.com, Glassdoor.com, VWorker.com, etc., provide information regarding rates, qualifications, deadlines, tasks, client requirements, etc.
Create Art Pieces On Behance
Behance helps creative professionals showcase their portfolio and gain exposure to prospective employers. The site now serves artists of all ages — kids, teens, young adults, seniors, and experienced creatives alike. While you don't need to register in order to view profiles, sign up to receive notifications whenever a member creates something interesting.
In terms of income generation, you can either promote members' artistic works (e.g., Tumblogs, Dribbble), commission original illustrations, or ask users for commissions. Depending on your skill level, you can decide whether to offer digital paintings, prints, sculptures, 3D models, animations, videos, etc.
While earning additional income is certainly nice, sometimes it makes sense to go after bigger goals. After all, why settle for a measly annual salary of say RM 50 000 ($12 500) when you can easily hit RM 100 000 per annum?
Here are three proven techniques that can help you reach your dream income levels. Feel free to tweak them according to your preferences and budget.
Join Affiliate Programs With Top Brands
One effective way to increase your daily or weekly income is by joining affiliate programs offered by reputable brands. Instead of merely promoting their wares, you can leverage your efforts by suggesting useful links and resources instead. In return, the brand pays referral bonuses based on the number of leads generated.
For instance, let's say Company ABC offers an affiliate program called XYZ Program. Once enrolled, you can refer customers interested in buying certain products or subscriptions to a special landing page where they can access valuable discounts, deals, tutorials, tips, FAQs, guides, etc. Then again, if Company DEF wants to attract more eyeballs, they can offer similar perks to affiliates who contribute towards boosting visibility.
Promote Other People's Products
The same concept applies to promoting other people's stuff. Let's assume that Company X sells customised iPhone cases and that you happen to love designing phone covers. Even if you never intend to produce your own designs, you can simply share images of other peoples' creations using tools like Canva.com.
Then, contact owners of companies that manufacture case shells. Simply explain your situation and ask permission to feature their products on your account. They'll likely agree considering that third parties typically generate greater conversion rates than self-produced campaigns.
Offer Consulting Services
Consulting is yet another technique that can boost your income exponentially. All you really have to do is to identify niches where demand exists, gather necessary information, establish credibility, and develop solutions.
Depending on your field of expertise, you can consult for fellow entrepreneurs, freelancers, small businesses, big corporations, consulting firms, banks, government agencies, NGOs, etc. Just remember to keep things simple and stick to the facts. Don't try to act as a jack-of-all-trades and expect to land lucrative contracts overnight.
Apart from paying your dues, there are several legal ways to obtain a gift card from large retailers in Malaysia. Most commonly, you'll need to purchase vouchers from participating stores and redeem them immediately upon receipt.
If like me, you are sick of working at your regular 9-5 job and want to try something different, then it's time to consider starting a new career or part-time business. The internet provides endless opportunities to start making money online. You just have to choose what suits best with your personality and skillset. Here are some tips on how to find easy ways to make money in Malaysia without any investment required other than your efforts.
It depends on which industry you're planning on joining. If the industry has low competition and high demand, then yes, that will be great. However, there are many industries where people need more training before they become successful entrepreneurs. For example, if you plan on becoming a stock broker, expect to spend about 6 months learning all about stocks, bonds, commodities etc., as well as getting licensed and accredited by various institutions such as AIMS BCA (Malaysia), CIPM, Securities Commission Malaysia, and so forth. Then again, if you've got talent in sales and marketing, there's no reason why you cannot start selling products yourself. The key here is to identify your niche area and market research who needs it most -- this will give you a headstart over others who don't know anything yet.
In terms of salary, I would say it's not bad at all. Many people even claim to make up to RM100k per year depending on their experience and background. But keep one thing in mind: these figures come directly from those who made it big. It does NOT mean everyone else could achieve similar results too. In fact, the only difference between them and you may be the luck factor. So always remember that success doesn't happen overnight! There were hundreds of thousands of individuals who wanted to be "the next Zuckerberg" but failed miserably because they didn't take action until years later when Facebook was already established. As long as you work hard and consistent, you'll definitely see positive results eventually.
So don't worry too much about being underpaid compared to others. Focus instead on improving your skill set and gaining knowledge along the way. Once you gain enough confidence and expertise, you can negotiate higher salaries based on your value proposition alone. This way, you won't feel pressured into taking lower wages simply because you're afraid of losing someone better suited for the position.
There are lots of options available for beginners. One option is to join affiliate programs. Most reputable companies offer such services and usually pay around 50% commission on goods sold. What makes this method attractive is its versatility and scalability. All you have to do is sign up with an affiliate program and promote its products/services via social media channels such as Facebook, Twitter, Pinterest, Instagram, Google+ communities, blog posts, YouTube videos, newsletters, paid ads etc. Although it takes some time to build traffic through organic search engine rankings, affiliate marketing is still relatively cheaper and faster than traditional advertising methods. Another advantage is that once you learn the basics, you can easily apply the same concept to other businesses to generate additional streams of income.
Another popular choice among Malaysians is freelancing. Freelancers often complain that finding clients can sometimes be difficult especially during slow seasons. To overcome this challenge, you can either setup shop on platforms such as Fiverr, Upwork, People Per Hour, Elance, Guru, Scriptlance, ODesk, Indeed Jobs (formerly known as Career Builder) and Craigslist. Or you can also advertise your availability on websites such as Gumtree, Kijiji, Trudeeo, SocialShuffle, Offerup and Classified Ads section within newspapers. Whatever route you decide to go, remember to treat each client interaction seriously as it's very likely that you might end up spending hours chatting with potential customers.
You can leverage technology today to grow your own personal brand and monetize it. These days, anyone can create his/her own product or service and sell it online. And unlike physical goods, digital items are easier to store and transport. Therefore, it's highly recommended to use ecommerce platform such as eBay and Amazon to sell your homemade stuffs rather than using local retail shops. On top of that, you should also consider creating your own website or landing page to showcase your talents and offerings. Not sure where to begin? Try exploring these five useful tools to help you launch your first startup.
If you're creative and possess technical skills, you can turn your hobbies into passive income sources. Remember my friend who runs her home bakery business? She used to bake cakes for friends' birthdays and weddings back when she was still studying. Nowadays, she earns roughly RM1000 every week by baking cakes exclusively for fellow bloggers. Similarly, you can design logos, banners, infographics, brochures, tshirts, mugs, bags, stickers...anything really and sell it online at sites such as Cafepress, Zazzle, Spreadshirt, Printful, Etsy, Teespring, Redbubble, Society6, Café Press, Threadless, CafePress, MOO, PixelsArt, Shopify etc. Don't forget to add links to your site(s) in description box so visitors can check out your portfolio while browsing. Also include testimonials from satisfied buyers who bought your merchandise.
As mentioned earlier, selling online is ideal due to its convenience and accessibility. And since Malaysian government abolished Goods & Services Tax (GST) last July 2014, international shoppers enjoy greater savings on purchases shipped locally.
Here comes the golden tip: Leverage your network to solve problems. After all, we live in a world surrounded by strangers. We exchange opinions, suggestions, feedback, thoughts, ideas, stories, jokes, praises, complaints and emotions everyday with people whom we barely know. Yet, surprisingly, few of us ever think beyond our immediate circle of friendships. The truth is that everybody knows somebody, right?! So why not tap into this resource and share your experiences with them? By giving honest reviews and recommendations related to certain topics or products, you automatically establish trust and credibility amongst your peers. They will surely appreciate your honesty and generosity. Plus, you stand to benefit more from referrals thus generating residual income for life.
This strategy works whether you're buying something off Amazon, renting an apartment from Bloggi or hiring a plumber from Rejeki. Just pick a topic you're passionate about and explore different solutions to address problem areas. Do test drive before settling down on a final decision. Keep track of things such as price comparison, quality assurance, customer satisfaction rating and return policy. And never hesitate to ask questions regarding features, benefits, warranties, guarantees and after sale support whenever possible.
In summary, there's absolutely NO excuse anymore for staying stuck in a rut. Take charge of your future, embrace change, follow your dreams and goals and NEVER GIVE UP!!!
Just follow our battle-tested guidelines and rake in the profits.