Save up
Invest
Write
Sell preloved items
Learn a new craft
How can you make use of the circuit breaker period to earn some extra side income?
With the extension of the Circuit Breaker in Singapore to 1 June 2020, those who are already bored out of their wits having stayed in their nest over the first two weeks must be in excruciating agony, more so with the additional measures implemented to add more services under the “non-essential” category! However, we urge you to keep up the good work and continue to stay in so that we can revert to normality soon. Do understand that this is a necessary step implemented by our government to keep the COVID-19 situation in our country at bay.
Now that you have more time on your hands, why not utilise it to your own advantage instead of lazing around at home and scrolling through your phone?
There are certainly many activities for you to engage in without having to travel out of home. If you are ready to be productive, read on to see what are some of the constructive things you can do in the interim; you can even turn some of these into money-generating hobbies given that many part-time jobs have been put on halt!
Save Up
What’s better than seeing the numbers in your bank account multiply on its own, without you doing anything? Especially for those who are still schooling, having a savings account that you regularly deposit money into is a must.
Let’s explore the best savings account that you can reap the most benefits from; remember to save a portion of your allowance or the money you earn from doing part-time jobs for rainy days!
*rates are as of 22 April 2020
Our pick will definitely be the Standard Chartered Bank’s JumpStart Account.
With no minimum deposit amount and the highest interest rate (2%) offered, this is a prodigious deal for sure! Check it out here.
Start Investing
Here’s for those with a bigger risk appetite, especially with the current market volatility during this COVID-19 climate!
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One of the most lucrative ways to grow your money strategically is definitely to invest in the stock market. Those who are conservative in nature might fret over the ever-changing numbers that determines the fate of their assets. However, there will always be an inevitable risk factor tied to whichever investment you decide to stash your extra cash at.
For those that think that it is very much safer to deposit your hard-earned money in your bank accounts, or in fixed deposits, we cannot refute that fact. But how much do you actually get in return; is it truly worth the wait?
In order to maximise your dough and minimise the uncertainty and agony of losses, it is crucial for you to do your homework and study the trends of potential investments rather than jumping into it blindly. Only start on this when you are savvy and ready!
Since all of us have quite a bit of time at home now (ahem, Circuit Breaker, ahem), why not make use of this precious extra time to learn more, research, and try a demo on the stocks market to see if it is for you?
Here are some of the links to the online classes that we have sieved out for you!
a) Udemy
d) Investors Underground (Pricey)
e) Trade Ideas (Pricey)
Once you have gone through the classes and done your research, you will definitely feel more confident in your judgement and will want to put your knowledge to the test. But…
DO NOT dive straight into the real thing until you are ready!!!
Head over to a day-trading simulator and create a demo account first. These mirror the real-life market conditions so that you can familiarise yourselves and come up with your own trading strategy to counter the possible risk factors and cushion your losses.
Below are some of the Demo Accounts you can choose from:
1) Futures Demo Account: NinjaTrader
2) Forex Demo Account: OANDO
3) Stock Demo Account: TradingView
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If the volatility of the stock market is not your cup of tea, or if you are not such a big risk-taker, you might want to opt for Unit Trust Investments instead!
These are a portfolios of stocks, bonds, property, cash or other asset classes, chosen and managed by professional fund managers. To put it simply, you are entrusting your money to a professional who will determine the apparent time to harvest the best yield. With other investors onboard the same boat as you, everybody shares the gains of the unit (and losses as well).
However, the same rules apply; always be prudent! Read and understand the individual fund prospectus before selecting one or a few choices. Speak to your parents or a trusted financial advisor first if you are a first-timer who is not very savvy on this topic or if you are not sure on where to start!
write
Start a blog, be an influencer!
Or simply write well on topics that interests you and be spotted!
For those with a flair for writing, let’s not put that talent to waste. What’s better than earning some extra cash while doing something that you seek joy from? If you are wondering what kind of content you should go for, just start off with whatever floats your boat! As long as your style of writing and content is able to attract people, it doesn’t really matter.
If you are out of ideas, some popular topics that people might be interested in are:
- Food; judging by the innate nature of most of our fellow Singaporeans, food is an inseparable part of our lives!
- Fashion; who doesn’t like to dress well and suss out the best deals?
- Travel; if you are an avid traveler who is familiar with popular hotspots overseas, why not? Relive your trips through penning them down since we are advised against travelling for now…
- Fitness; oh yes… we all need these to save us from the extra pounds gained from the Circuit Breaker!
What would you know…? You might just land gigs with brands who find you apt enough to promote their products if you are lucky!
If the idea of owning a blog has always been on your back-burner, this is the perfect chance for you! Who knows? You might be the next XiaXue or Naomi Neo!
Kickstart your blogging journey here today.
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If you are not ready to devote a lot of time to a blog but have always wondered if your knack for writing can be put to good use, here is a low-commitment alternative that you can consider!
ConstantContent is one of the largest and most established marketplaces for high quality content, connecting companies with freelance writers virtually. To start off, all you have to do is provide your personal details, take a quiz on basic grammar and submit a writing sample of yours.
You can then start your journey as a freelance writer, earning some extra pocket money along the way; simply browse through the site for any writing assignments that suits your interests, expertise and rate!
Once you’ve stumbled across something that intrigues you, take some time to cook up an article it and make sure that your piece is as exciting as it can get.
Not a bad idea to kill some time huh?
Give your pre-loved a second chance
Does it spark joy? If not, make room for the New!
We all know how bored we can get while practicing #stayhomestaysafe…
why not take the opportunity to declutter and give your pre-loved items a second lease of life, and earn some extra pocket money while at it?
Conduct a photoshoot (recommended) or simply snap a picture of the items that you have outgrown, or no longer take a fancy to, and post them on the virtual marketplace! You can start off with Carousell, Facebook Marketplace and Instagram to name a few platforms.
Learn a new craft
Get creative!
If you are creative and nimble with your fingers, it’s time for you to pick up a new craft! Hop onto YouTube and see what’s out there that piques your interest;
learn, practice and be a master at it!
Here are some inspirations to start you off with:
Challenge yourself and create some unique pieces! Who know what others might just adore and you can start pocketing from there?
Sounds like you can do at least one of these?
We bet you can~
Stop procrastinating and get your butts off that bed! These definitely beat being a couch potato, any day 😊
Join Us!
Wondering what to do when this pandemic is over?
Do not forget that you can always count on us at IDG for extra pocket money!
In D Grey offers many events and other work opportunities, as well as the chance for you to make lots of new friends.
Think you got what it takes to think on your toes and deliver excellent customer service?
If you do, we want you; speak to us on how you can be a part of our funtastic crew 🙌🏻
Don’t forget to follow our social media accounts for more updates and life hacks too!
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