Make Time To Make More Money
If you're like most people, you're probably working a 12-hour shift, whether it's in an office (9am - 7pm) or a restaurant or factory. Given that you sleep another 7 hours, and commute for 2 hours (include grabbing a quick breakfast and dinner), there's another 3 hours of extra time per weekday and perhaps 20-30 hours per weekend. If you're youngish (below 40 years old), you probably have tons of energy to double-down and make more moolah! If you're middle-aged (40-55 years old), leverage more on your skills/wisdom/experience that you've (hopefully) acquired in the past few decades!
An Extra $500 Per Month Could Change Your Retirement Quality Substantially
You may think that an extra $500 per month may not matter much, but if you keep it up for a year, you will have an extra $6,000 to invest! Investing an extra $6,000 for 20 years, at just an average 4% rate, will nett you $178,000 at the end of 20 years. Why 4%? That's the interest rate that CPF Special Account pays you, if you're looking for an absolutely risk-free way to grow your money. But if you can grow it by a more respectable 8%, that's 274k in 20 years (check out some "GROW" blogposts for more details).
May only "cost" you as little as 2 hours a week
Depending on how much spare time you have a week, and the specific skills that you have, to net an extra $500 per month may mean that work as little as 2 hours a week! That's all! Think of the quarter million that you will have in 20 years!
Here are 6 ways that you can make extra money in Singapore!
As weird as it sounds, people will pay you for speaking Singlish!
#1: The Classic: Tutoring
#2: Drive for Grab / Gojek / Tada / GrabHitch
#4: Rent an extra room out
#5: Freelance Photography
#6: Let your car do the earning