How much you could earn as a freelancer, Money News

Freelance work is becoming a way of life for many people in Singapore, especially as the cost of living has increased. Fortunately, there are plenty of freelance opportunities in Singapore, and just a little dedication to your free time and assets will enable you to make extra cash to supplement your regular income.

Also, thanks to the internet, it is much easier and less geographical to make additional income. If you’re looking to freelance in your spare time, here are a few ways to get you started.

SHOP FOR OTHERS WHILE TRAVELING

Love to travel? You can make extra money even while enjoying your vacation. All you have to do is expand a helping hand to shop for others.

Depending on your destination and the luggage space available, Airfrov, a peer-to-peer online marketplace, gives travelers access to a network of shoppers to offer shopping services from around the world.

With the online application, users can list their next vacation destination and accept requests to purchase products from that city. Both the traveler and the buyer receive a price agreed in the app before the start of the contract.

When returning the goods, the traveler arranges for the delivery to be made under the previously agreed conditions. Note that Airfrov will pay 7 percent of the agreed value plus an additional S $ 2 for the service fee, which should be considered before agreeing to a deal.

Additionally, we recommend being strategic about how you use your credit card. For example, you can earn points or cashback with the right shopping card, which in turn can reduce the cost of your travel.

POSSIBLE PROFITS

You can make anywhere from a dollar to hundreds per store, depending on your purchases. Here is an example to show you what to expect:

  • Incoming request for a pair of Pokemon Adidas Stan Smith Advancourt priced at S $ 111 in Japan
  • The traveler offers S $ 140 to purchase the item from Airfrov
  • With an 8 percent tax refund in Japan, the traveler pays S $ 102 for the item
  • Total earnings: S $ 140 – S $ 11.80 (platform fees 7 percent + S $ 2) – S $ 111 = S $ 17.20

WHAT TO START

When you’re ready to travel, here is a list of the things you’ll need before you can bring in the money through Airfrov:

  • Mobile device accessible in Singapore and abroad
  • Download the app and set up an account
  • Create a post for your upcoming trip

USE YOUR SKILLS

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Many people have extensive skills and talents that, if marketed correctly, can make them quick money. The internet has made it so easy to access a large pool of customers at home and abroad.

By browsing platforms such as Upwork, Freelancer or Guru, it is possible to find projects that best suit your time and profile.

POSSIBLE PROFITS

Whether you choose hourly or fixed pay, your experience and portfolio will often dictate the fee you can charge.

Take freelance writing as an example. The cost of a freelance writer can range from $ 8 for 500 words to $ 250 for 500 words, depending on your research or SEO experience. Knowing how much experience and interest you have in writing will help you determine a reasonable fee.

WHAT TO START

To start with, you need to master the language in which you are writing. You also need to be able to research and create content relevant to the topics assigned to you.

A passion for writing will definitely be a bonus. Access to a laptop (or computer) and wifi is also a must for freelance writers. There will always be a lot of online research and hours spent writing articles.

BECOME A PRIVATE RENTER

This is probably the first gig that comes to mind when you have access to a car. Being a private hire driver has been a popular freelance option for students, full-time workers, and even business owners.

Many choose to haul passengers in their spare time when commuting to work (peak times are great for getting higher prices!) And even on weekends to make enough cash for their gasoline and some of their car loans.

There are no restrictions on how long you have to drive or how many trips you need for a day. However, if you want to earn a larger package from private landlords like Grab or Gojek, you may need to stamp more hours per week to make up to $ 12,980 per month.

On average, drivers can earn up to $ 30 an hour during rush hour and up to $ 25 an hour outside of rush hour.

WHAT TO START

There are other requirements to become a private hire driver in Singapore. These are the criteria that you need to meet:

  • Do you have a private rental car driver’s license (PDVL) or a taxi driver’s license (TDVL)
  • (PDVL course: S $ 155.15; TDVL course: S $ 294.25)
  • At least 21 years old
  • Have a four-door car (rental car also applies)
  • At least 2 years of driving experience
  • Car insurance

The incentives offered by individual private landlords vary from month to month. However, drivers who can commit to long driving lessons are entitled to rewards in addition to their regular driving fee.

POST AN ADVERT ON YOUR CAR

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One of the easiest ways to make money on the side is to let companies promote your vehicle. In some cases, it will be billed up to $ 700 per month.

If you are unsure of the type of ads that will appear on your vehicle or where the sticker will be placed, you can simply enable or disable the options provided to you before the agency begins the contract.

POSSIBLE PROFITS

Allowing advertisements on different parts of the vehicle can result in different rates. Based on a sedan car, these are the possible advertising fees you may be charged:

  • Driver or passenger door: S $ 60 per month
  • Rear and bumper: S $ 50 per month
  • Entire car: S $ 110 per month

There are different pricing models for different types of vehicles. However, it is obvious that the larger the surface of your vehicle, the higher the fee you can ask.

DEVELOP YOUR OWN ONLINE COURSE

If you are an expert in a particular subject, online courses on the subject can be created and sold on online educational sites such as Udemy.

Don’t be surprised if you are quickly gaining a growing fan base. According to a study, the total market value for the e-learning business will reach $ 325 billion ($ 455 billion) in 2025. So why not jump on the bandwagon now to make the most of this opportunity?

POSSIBLE PROFITS

There are options for marketing your course online through platforms such as Udemy. Udemy offers free marketing through its database when you sign up for advertising campaigns.

Note that there is always a 50 percent revenue share between the platform and the course owner. The following is an example of the potential returns you can get in a year by promoting your course through Udemy’s marketing campaigns:

  • A two hour marketing course costs S $ 80.00
  • Udemy offers its users the course at a 75 percent discount
  • For example, let’s say 5 subscribers sign up for the course for $ 20.00 each month
  • Total profit for the period of 12 months: 20 USD * 5 subscribers * 50% revenue share * 12 months = 600.00 S $

This is a lucrative return considering that once the course has developed, you can reap the harvest for as long as the content is relevant. While it can take days if not months to develop an easy course, it is well worth it as it can bring long-term returns.

WHAT TO START

If you are creating your course video content from home, you will need a computer with video recording and editing capabilities. You should also be familiar with the topic you want to teach. Based on your expertise, you must submit the following on the online platform before your course starts:

  • learning goals
  • Target student profile
  • Course lectures of at least 30 minutes in video format
  • Course worksheets
  • Find out about relevant regulations before you begin

According to a government survey, the number of freelancers in Singapore has increased. People are increasingly looking for new and innovative ways to make money.

However, you should keep in mind that there are licensing and tax regulations that you need to follow depending on your industry and level of involvement. With the growing supply and demand for freelance jobs and side appearances, now is a good time to monetize a niche that resonates with you.

This article was first published in ValueChampion.

April 1, 2021