Hey, kak and bro! Are you still at work until 5 p.m. every day, and confused why the balance in your bank account iss not increasing? Perhaps, it’s high time to join the ranks of those who have side hustles and where everyone can find something to do to earn more! This is true whether you are saving for a house, paying off your student loan, or merely just trying to make ends meet in this costly world, then a side hustle is that ticket.
What, Pray Tell, is a Side Hustle Anyway?
The opportunity can be described as a job that one conducts in an effort to earn additional income over and above earned wages from his or her primary employment. From freelance design and writing to selling homemade cookies or baked products on shopee or Tiktok the options are limitless. This is now the new order in the lives of Malaysians, not to mention in the light of increasing costs of living. Besides, who does not desire to have an additional source of income?
1. Boost Your Income
Well, money for one, but let’s not focus a lot on that – it’s an obvious one after all. Because of the rise in inflation the salary we earn is not enough the prices of everything including kopi ais to petrol has increased hence the importance of having sideline business. Whether it is a top-up of RM200 or a total of RM2,000, a little income that can be accumulated can go far.
2. Develop New Skills
That career might be amazing, yet it prevents you from expanding your knowledge in one way or another. Freelancing is really a side hustle that can make you discover some skills in you that you never thought existed. Even the so called tech skills such as digital marketing, social media management, coding or even data analysis can come in handy in your main career.
3. Do what you Love as Your Business
Have you wanted to open a blog, a café or sell handmade products for years? For someone who wants to try out entrepreneurship, but is not willing to go all in, then a sidehustle is the perfect way to tread a middle ground. It allows you to follow your dream and, possibly, make a living out of the experience someday.
4. Achieve Financial Freedom Faster
One point about side hustles is that they are more than ways of making; more than making extra dough; they are about wealth creation. The extra income means that you can pay off your outstanding debts within a shorter period, increase your savings or invest in income-generating assets. It is not about acquiring that which you think would make you get to a point in your life where money ceases to be a concern.
5. Security in Uncertain Times
There is nothing as unpredictability in the job market, lah. It helps to have a part-time job in case of job loss or reduced income or salary rates slash. One is that, it leaves a person with more control of his or her financial life and much less risks to a particular source of income.
Most common part-time jobs in Malaysia
E-commerce: Begin selling your products on sites such as Shopee or Lazada, IG account or third-party selling. Carnival prices range from Pakistani video and DVD players and fairly used American gadgets, Honda autos every second hand car you can think of, clothes, shoes, toys and even Ayamas sarong perdana, a piece of Iran wedding cake, a packet of homemade cookies, and surprisingly a sofa set.
Freelancing: For writers, graphic designers, programmers, and anybody in digital marketing, sites such as Upwork and Fiverr will be of great assistance in helping you to find clients online.
Ride-Hailing or Delivery: These include Grab, foodpanda, Lalamove offers a flexible working time. Interestingly, it’s a good idea to earn if one is free and has sometime to spare.
Content Creation: If you have a talent in producing videos or creating contents such as articles? Post on YouTube, begin a blog or create a podcast. After gaining a following, the two ways of making money are through advertisement, partnership, or selling merchandise.
Tutoring: If you excel in certain areas like Mathematics, Science or languages, then you can provide online tuition or offline tuition. It Goes without Saying That Parents Are always Searched for good Tutors!
How to Start your Side Business
Identify Your Skills and Interests: What do enjoy doing and / or do well? What are your favourite activities? Ideally, your side hustle should be doing something that you like, or you are good at.
Start Small: Hold your horses, you don’t have to stop working your regular 9-5 job to start making money on the internet! If not, then begin with a few, for example, start offering a couple of free services to some customers who brought previous referrals, and then work your way up from this basic strategy. Because the whole business is managed online, very little investment is required to begin with; as your clients or sales increase, you can expand as necessary.
Set a Schedule: The saying ‘all things in moderation’ applies here. This is very important especially when you are carrying out a side business; do not let it affect the working of your main business. No set independent time should be used on your side hustle.
Manage Your Finances: This article also reminds you to tally your income and expenditure. You might have to declare your side hustle income and therefore may need to file for taxes, so it’s advisable to keep everything in order.
Network: Interact with people in forums, or find other groups with members that are engaged in similar side businesses. Networking is actually provides you with more opportunities and you get promotion at a very earlier stage.
In the current economy, depending on single stream of income is not only foolish but outdated my dear, ‘comrade’. Everyone needs a side hustle whether you are saving for a particular project or you want to learn a new skill or simply want to have an extra source of income. So, what’s stopping you? Time to hustle!
