Before we start with this article, know this: there is SO MUCH abundance in this world. Money and opportunities are EVERYWHERE. All you have to do to claim some of that for yourself is clear the obstacles that block those rewards from reaching you*.
Note: trying to earn side income is not the only way to make extra money in Malaysia, but it is the most practical starting point, because most of us don’t have the capital to start leveraged businesses or earn high 4, 5 figures (tips to increase your salary).
How can I make an extra RM1000 a month in 2021
Here are 4 ways to earn an extra RM1000 a month or even more. Many of these are also great side income ideas for students, or those looking for part time income in Malaysia. Let’s go over them:
Method #1 – Sell first, fulfil later
The basic idea of sell first, fulfil later is:
- Identify an area where there is a lot of demand
- Make sure there are no/very few competitors
- Negotiate to supply the product/service
- Get upfront deposit (this is important)
- Create or secure the order (now only you buy the stock)
- Fulfil the order and collect your remaining payment
It sounds simple, but many people don’t do #1-4 – they buy the stock first THEN look for buyers. If they’re lucky, the product sells itself. If they’re not… that’s pure loss.
Here’s an example of capitalising on an opportunity where demand was high and there were no competitor.
Method #2 – Follow a practical course
Take one course, then implement the strategies. Do NOT look out for other options before you finish the course, do NOT take two at the same time. Just one.
Make sure it’s a PAID course, because psychologically speaking, the human brain appreciates something that you paid more than something you get for free. Use your psychology to your advantage, skin-in-the-game style.
As for which course to take – whichever is action-oriented, preferably one which has clear timelines. Avoid ‘do at your own pace’ courses if you are really serious about it.
Because I am team #BuyMalaysian, here I’d like to promote two Malaysian course creators who I’ve followed for a while – their free content is already great, so the structured content is even better.
1) How to Become a Freelance Writer (in 60 Days) course by Aisha of OutandBeyond.com; $45 (~RM200)
- 110+ page ebook
- Pitching templates (I spent years learning this)
- SEO training (this is the moneymaker guys. Everyone can write but not everyone can optimise for search engine)
- writing opportunities,
- and more
- 21 x step-by-step videos to learn ecommerce dropshipping
- Email marketing guide
- Facebook ads guide
- 1-year support and guidance on running your ecommerce dropshipping business (important for motivation and accountability!)
- And more
Both courses are suitable for complete beginners. Most importantly, these courses are very affordable – the information is worth thousands but only cost a couple of hundred.
Method #3 – Monetise your hobby
…Monetising your hobby could be the best idea ever (profit from something you love? Wowowoww), OR the worst idea ever (your hobby may not bring you joy anymore).
My personal take is: it’s worth trying to monetise your hobby. It may not work, but… what if it does? The potential upside is worth the trouble.
Personally, this is what I did. Personal finance blogging is a hobby of mine and I now earn a good income as a blogger. Best. Decision. Ever.
Method #4 – Explore your curiosity
Have you always wanted to try something? Now’s your chance to figure out how to do it while ALSO thinking of monetary compensation!
I’ve brainstormed and compiled some side income ideas that I personally think seems fun. This list is NOT exhaustive – these ideas are mostly my personal interests (internet culture, ecommerce, organisation porn).
- Internet tutor for adults. Help adults (and by adults here I really mean technologically-challenged people) make email accounts, create social media accounts, open blogs/Tumblr/websites, suggest best websites to visit, etc. I think many elderly people would really enjoy getting this lesson from patient youngsters.
- Collect and sell recyclables. This might work well for apartments/flats/condominiums because you can get a lot in one shot. Get permission to install recycling bins, then promote recycling via flyers etc. Collect and sell them. Aside from the usual recyclables, you can also collect other ‘junk’ – IT junk, home knick-knacks – and recycle/sell those online.
- HALAL CHINESE FOOD. Do you have any IDEA how big the demand for halal Chinese food is in Malaysia??
- Chef/Baker specialising in Pinterest/Buzzfeed/YouTube recipes. Send them the link, ask them to make it. I mean, I’ve scrolled my Facebook a few times and saw the recipes and went, ‘yum’ but have no interest in making them myself. Related: Sell frozen cookie dough that people can buy so they can make freshly baked cookies in their homes.
- Offer virtual tours in your neighbourhood. Food tours. Graffiti tours. Temple tours. Just because we can’t travel don’t people don’t want to experience new locations. Get some ideas (and list your virtual tour) at AirBnB experiences.
- Offer KonMari services. Help people to declutter their shit. Great for natural organisers among you (you know who you are!). Even better if you can take and sell the stuff they no longer want!
So which of the above do you want to take action on, so you get to earn extra income in Malaysia? If you have no idea, then Method #2 is for you. Get the skills then find the passion for it later.
Ultimately, don’t take too long to decide. Just pick one and roll with it, because inaction is the problem. Not only you won’t earn anything, but inaction also won’t make you learn anything.
Do you have any other ideas for businesses, part-time jobs or side income ideas in Malaysia that have high demand nowadays? Please share in the comment section 🙂 And if you’re already hustling, I want to know about it – share in the comments section too!