Wednesday, 2 December 2020

Side income ideas to start earning an extra $100 per month

This year has made a lot of people create a second stream of income or set up a side business as they realized that relying on one main source of income is very risky as anything can happen and you would be out of a job with no income.

Covid has hit a wide spectrum of people, from F&B to services and caused many businesses to shut. We are all afraid of losing our jobs as it is what provides us with money to survive. A few of my air stewardess friends have set up home bakeries, baking brownies and tiramisu, the number of their orders are huge scale with each session being sold out within hours. I myself have also patronize some local bakeries and though some charge at a premium, the choices and creativity really is great.

I think it makes for a great gift as well since we were encouraged not to be in close contact with one another. So to today's topic, side income ideas to start earning an extra $100 per month.

Provide your services

  • Second opinions on Carousell

Providing something for others can help you earn because people will pay for your services depending on the demand. 2 recent examples I saw that I felt was very innovative was first on this guy who gave second opinions for a token fee of $5. Though he has not been earning from this service that he is providing, I do think it is a good start and especially so when he went viral, he has gotten a few request.

  • Steven lim birthday song

The second one was on Steven Lim where he charged $100 to sing a birthday song, he managed to earn $78,000 within 7 months from it which is a crazy amount. Of course, you can provide a different kind of service depending on what you like to do.

  • Upload your high quality photos to stock websites and earn everything someone uses them

Create a YouTube channel with whatever you are good at/interested in

If you love sharing about your life or anything, YouTube is a really great platform. I would say that even though my YouTube channel is not well-established because I have seen other people who have achieved a huge follower/views on YouTube and it really is just a starting point because once you have gained a following, many of them have created courses and do affiliate marketing through their channel.

Definitely, the amount of effort into each video is huge, from recording to editing, there is much to do and learn but with visual content being the biggest thing now, there is no harm in learning new skills. With just ad revenues, big YouTube channels have said to be earning enough and it really depends on your ads and clicks but overall YouTube is a great platform to let your ideas flow.

I have been watching this channel called The Iced Coffee Hour with Jack and Graham Stephan, the guest on his YouTube channels are all huge and earn quite a substantial amount through their channels with different avenues. He reveals how much the channel has earn on every new episode and it is interesting. Of course, getting to earn from a YouTube channel is not easy as there are criteria to be reached. I would say that it is also a good way to explore other interest of yours. Cooking channels for example have been increasing since the beginning of the year as more people start cooking at home. If you have an interest or are good at it, you can film yourself learning or cooking up a storm. There are just so many ideas to present your video.

Create a blog/course/e-book

Besides having a YouTube channel, you can also earn ad revenues from blogs which you can co-create together with your channel. You can earn from the ads placed on your blogs. If you are able to attract a large following then definitely, you can also sell your own merchandise through the brand that you have created. Similarly to the Youtube channel, you can release your own courses or e-book for people to purchase.

Dividend income

Using the income earned from your main 9-5 job or from extra cash lying around can also be invested and the investments that you have can pay you dividends/interests. It might be a small amount in the beginning but once you build your capital up, the dividends that you can received monthly can turn out to be pretty substantial. Many people have managed to build up portfolios that provide them a "more than enough" monthly dividend payout.

I will be revealing in my next video how much dividends I have collected in 2020 and also my portfolio value, do look out for that!


All in all, building a side income can take time or it might not even seem rewarding in the beginning when you are putting in so much effort but not getting the returns as expected. If in the long run, it doesn't become profitable, take it as a learning experience and I believe it will be a good experience. In this time and age, setting up a website or youtube channel for yourself is easy but the content has to be good for people to want to continue to watch or read your content. I would say that my Youtube channel has very slow growth at the moment as I know the content and my expression is not as engaging. But I do hope to improve on the way and so if you like my content, do subscribe and hit the like button to show support. Thank you!

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Sunday, 29 November 2020

Cryptocurrency | Why I am getting into it and is it too late?

Today's topic will be on cryptocurrency. I have been wanting to do this video for awhile and after seeing videos from Andrei Jikh and Chicken Genius on Bitcoin, how can I also miss out on releasing one.

Cryptocurrency has been a hot topic the past few years and many says that it will be the currency used in the future as it is not like fiat currency, a government-issued currency that isn't backed by a commodity such as gold. Fiat money gives central banks greater control over the economy because they can control how much money is printed. Take for example the US dollar where the US Federal Reserve has been printing money to counter the effects of Covid-19.

This has raised concern on whether the value of the US dollar will drop because more money is printed. I didn't really study any finance modules in school as I studied social sciences but having a currency issued by the government and regulated by the central banks means that the value of it is really based on the country's economy and how the government is doing.

On the other hand, a cryptocurrency is a form of digital or virtual currency that can work as a medium of exchange. Being virtual in nature, they use cryptography technology to process, secure and verify transactions. Unlike Fiat currencies, cryptocurrencies are not controlled by any central authority such as a central bank. Instead, they are limited entries in a database such as a blockchain that no one can change or manipulate, unless certain conditions are met.

Many have termed cryptocurrency as the future currency as it's definition of value is like gold except that it is digital and in times of crisis, the value doesn't change due to printing of money because demand for it still remains. Covid-19 has strengthen the value of Bitcoin, the most popular cryptocurrency. Ether (ETH) which the second most popular digital token has also increased in value. Both of these tokens are decentralized, meaning that they are not issued or regulated by a central bank or other authority. Both make use of the distributed ledger technology known as blockchain.

Why I am getting into Bitcoin now?

I have definitely heard of Bitcoin for a few years, actually I first heard about it when I was in polytechnic in year 2015. At that time, Bitcoin was at a price of $200 plus and since then, it has seen tremendous growth to almost $18,000 as of 20 Nov 2020. I heard people mentioning that they bought Bitcoin and it risen in value in crazy amounts.

I was, to be honest skeptical of Bitcoin in the beginning because at that time, I wasn't sure what Bitcoin was and how it can be used. I even heard of the creator name, Satoshi Nakamoto and was like wow, he is anonymous. I thought that it was something of value to gamers as they could transact online easily. It was not until I watched Banking on Bitcoin from Netflix did I understand how Bitcoin work and how it come about.

At that time, being a student, it was a pretty huge amount and I was also buffered on how you can store Bitcoin as stories of hackers was on the rise. So I did not think of getting into Bitcoin. This year, as I see more institutions deciding to get into cryptocurrency, I decided to also put a small amount of money in. If it becomes more widely used, it's value will definitely increase as what we are seeing and with it being limited in value as well, people will know of it's value.

I have thus decided to also set aside a sum each month to buy Bitcoin in tranches using Binance. Hearing Andrei Jikh and Chicken Genius, I know that Bitcoin is now going to be widely accepted as even DBS is setting up a digital exchange for cryptocurrency.

Things to look out for

As I have mentioned, hackers like to target cryptocurrency companies/exchanges as the value is so crazy and if they do not have the proper infrastructure, they are very easily compromised. One example was Coincheck, a Bitcoin wallet and exchange service headquartered in Tokyo that was hacked in 2018 and had about $500 million in digital tokens taken away. What was unique was that because that Coincheck used a prominent star to advertise and this attracted many young Japanese to borrow money to buy cryptocurrencies.

Something closer to home was Kucoin which is a digital asset exchange headquartered in Singapore lost over $280 million as the hackers obtained keys to their hot wallet. Those in their cold wallets were safe. So, how can we improve the safety of cryptocurrencies? This is then dependent on how we store them.

Hot and Cold Wallet

Hot and Cold wallet are how you can keep your cryptocurrencies. There are many other different types of wallets but hot and cold are the 2 most frequent used ones. Hot wallets are digital cryptocurrency wallets, while cold wallets are physical devices that store cryptos inside of them.

  • Hot Wallet

Hot wallets are digital currency wallets which mean they are online and desktop wallet. Hot wallets can store any cryptocurrencies and are free.

  • Cold Wallet

Cold wallets are physical devices that store your cryptocurrencies and are offline devices. They have a very limited variety of cryptocurrencies they can store. Cold wallets are very secure when it comes to cryptocurrency storage. Definitely, I would think that as you accumulate more cryptocurrencies, you would want to slowly store some in a cold wallet while keep some in a hot wallet to allow both safety and easy access to transact.

Am I getting in too late?

There are many people who have got into cryptocurrency early on and have seen massive growth on it. Then is it too late for me to get in now especially so when it has hit $18,000 recently. I would say that with more institutions buying and accepting Bitcoin, the growth from here might be higher. I wouldn't blame myself for not getting in early because I know that I needed some kind of confirmation before getting into something. There are so many interesting concept and things nowadays and cryptocurrency is definitely something to look out for in the future. Whether or not is this a good time to get it, I believe having to own some Bitcoin will make me understand how it truly works and read up more on it.

Are any of you already invested in Bitcoin? If not, are you planning to buy some soon? Thanks for staying till the end of the video and do hit the like button and subscribe to my channel.