$1500 per month from my side income

In this post, I am sharing the side income I am having apart from my full time job. I started looking for alternate streams of income a couple of years back. The main reason is to hopefully build up sufficient streams of passive income to eventually replace my main income. This will give me the financial freedom to live life my own terms.

Till date, I do have a few streams of income but not all of them are passive and they are definitely still very far from replacing my main income. So here are my 5 sources of side income.

 

1)    Rental income. If you had read my previous post, you would have known that I have gotten my 2nd property and is currently renting out my HDB. Currently the rental is around $2800. Deducting $800 to pay for property tax, income tax and other miscellaneous expense such as conservancy fee, my rental income is around $1000/month (considering a 50/50 split with my wife)

 

2)    Ecommerce. I started venturing into ecommerce during the pandemic year in 2020. I believe the pandemic lock down definitely helped to jump start sales for me. Currently sale is more or less stable and is providing me a profit of around $220/month. I really hope I can grow this part of my income further.

 

3)    Interest/dividend from stocks/bonds and crypto. I am getting around $220/month of interest/dividend from my stocks/bonds and crypto portfolio. This include Singapore Savings Bonds (SSB) which is now higher than CPF OA interest. I might be considering putting more in SSB instead of doing CPF housing refund. This income used to be higher but the recent downturn of the stock and crypto market have caused it to shrink quite a bit.

 

4)    Grab Hitch. This is something I do on the side as I'm travelling to and from work to offset my petrol cost. Especially with the recent petrol price increase, this grab hitch income is definitely a welcome relief. I am currently working from home 3 of out of 5 working days, so hitching is only netting me about $50/month.

 

5)    Blogging. Last but not least, the blog you are reading now is earning about $10/month from Adsense. I know it's not a lot of money but it means a lot to me. It took me quite a while to grow the reader base and Adsense income to what it is today. In fact it took 6 years from my very first post in 2016 till today to get some decent earnings from Adsense. I really appreciate all of you who are reading my blog. Hopefully you all find the information useful and helpful in one way or another.

 

In total, from the above 5 streams of income, I'm getting around $1500/mth. This definitely come in handy in the current rising inflation environment. I certainly hope that I can continue to not only maintain the income stream but grow them further. If you guys have any suggestion on other avenue for side income or how to improve my existing income stream, please drop me a note to share.

P.S. Support me on my referral page. Thanks for the support! Happy Hustling!