10 Legitimate Ways to Make Extra Money in Singapore in 2026
Discover legitimate ways to make extra money in Singapore in 2026 and start boosting your income today.
Making extra money in Singapore in 2026 can be a great way to boost your income and achieve your financial goals. With the rising cost of living and inflation, it's essential to have a side hustle or a secondary source of income to supplement your primary income. In this article, we will explore 10 legitimate ways to make extra money in Singapore, including investing in the stock market, starting a part-time business, and taking advantage of tax savings strategies. For instance, you can learn more about How to Save Money from Inflation in Singapore 2026: Tips and Strategies to get started.
Investing in the Stock Market
Investing in the stock market can be a great way to make extra money in Singapore. With the Straits Times Index (STI) being one of the most popular indexes in Singapore, you can invest in a variety of stocks and bonds through platforms such as POEMS (Phillip Securities), Tiger Brokers, moomoo, Interactive Brokers, and FSMOne. The MAS (Monetary Authority of Singapore) regulates these platforms to ensure that they operate fairly and transparently. For example, you can invest in a dividend-paying stock such as DBS Group Holdings, which has a dividend yield of around 4.5%. This means that for every S$1,000 you invest, you can expect to receive around S$45 in dividend payments per year.
Starting a Part-Time Business
Starting a part-time business can be another great way to make extra money in Singapore. With the rise of the gig economy, there are many opportunities to start a part-time business, such as freelancing, tutoring, or selling products online. You can use platforms such as Carousell or Lazada to sell your products, or offer your services on freelance platforms such as Upwork or Fiverr. For instance, if you have a talent for writing, you can offer your services as a freelance writer and earn around S$50 per hour. You can also learn more about Top High-Income Skills in Demand in Singapore for 2026 to increase your earning potential.
Taking Advantage of Tax Savings Strategies
Taking advantage of tax savings strategies can also help you make extra money in Singapore. The IRAS (Inland Revenue Authority of Singapore) offers various tax savings strategies, such as the SRS (Supplementary Retirement Scheme), which allows you to save up to S$15,300 per year and receive tax deductions. You can also contribute to your CPF (Central Provident Fund) account, which has an interest rate of 2.5% per year for your Ordinary Account, 4% per year for your Special Account, and 4% per year for your Medisave Account. For example, if you contribute S$1,000 to your SRS account, you can save around S$200 in taxes, depending on your income tax bracket.
Renting Out a Room on Airbnb
Renting out a room on Airbnb can be another great way to make extra money in Singapore. With the rise of tourism in Singapore, there is a high demand for short-term rentals, and you can earn around S$50 per night by renting out a room in your HDB flat or condo. However, you will need to comply with the regulations set by the Urban Redevelopment Authority (URA) and the Housing and Development Board (HDB), and obtain the necessary approvals before renting out your room.
Selling Products Online
Selling products online can be another great way to make extra money in Singapore. You can use platforms such as Carousell, Lazada, or Shopee to sell your products, and earn around S$500 per month by selling products such as clothes, electronics, or home goods. For instance, if you have a talent for baking, you can sell your baked goods online and earn around S$20 per item.
Participating in Online Surveys
Participating in online surveys can be another way to make extra money in Singapore. You can use platforms such as Swagbucks or Survey Junkie to participate in online surveys, and earn around S$10 per hour by sharing your opinions on various products and services.
Delivering Food
Delivering food can be another great way to make extra money in Singapore. You can use platforms such as GrabFood, Foodpanda, or Deliveroo to deliver food, and earn around S$15 per hour by delivering food to customers.
Walking Dogs
Walking dogs can be another great way to make extra money in Singapore. You can use platforms such as Pawshake or PetBacker to offer your dog-walking services, and earn around S$20 per hour by walking dogs for pet owners.
Tutoring
Tutoring can be another great way to make extra money in Singapore. You can use platforms such as TutorMe or Chegg to offer your tutoring services, and earn around S$30 per hour by tutoring students in various subjects.
Comparison of Extra Money-Making Opportunities
| Opportunity | Potential Earnings |
|---|---|
| Investing in the Stock Market | 4-8% per year |
| Starting a Part-Time Business | S$500-S$2,000 per month |
| Taking Advantage of Tax Savings Strategies | S$200-S$1,000 per year |
| Renting Out a Room on Airbnb | S$1,500-S$3,000 per month |
| Selling Products Online | S$500-S$2,000 per month |
| Participating in Online Surveys | S$10-S$20 per hour |
| Delivering Food | S$10-S$20 per hour |
| Walking Dogs | S$15-S$30 per hour |
| Tutoring | S$20-S$50 per hour |
Frequently Asked Questions
How much should I save each month in Singapore? You should aim to save at least 20% of your income each month in Singapore, and take advantage of tax savings strategies such as the SRS and CPF to maximize your savings. You can also learn more about Saving Money on Daily Expenses in Singapore: Tips and Tricks to reduce your expenses and save more.
What are the best high-income skills in demand in Singapore for 2026? The best high-income skills in demand in Singapore for 2026 include data science, artificial intelligence, and cybersecurity. You can learn more about Top High-Income Skills in Demand in Singapore for 2026 to increase your earning potential.
How can I protect my savings from inflation in Singapore? You can protect your savings from inflation in Singapore by investing in assets such as stocks, bonds, and real estate, and taking advantage of tax savings strategies such as the SRS and CPF. You can also learn more about How to Safeguard Your Savings from Inflation in Singapore to get started.
Summary
Making extra money in Singapore in 2026 can be a great way to boost your income and achieve your financial goals. By investing in the stock market, starting a part-time business, taking advantage of tax savings strategies, and exploring other opportunities such as renting out a room on Airbnb, selling products online, and participating in online surveys, you can earn extra money and improve your financial well-being. Remember to always do your research, comply with regulations, and take calculated risks to ensure that you make the most of your extra money-making opportunities. You can also learn more about Legitimate Ways to Pay Less Tax in Singapore in 2026 to minimize your tax liabilities and maximize your earnings.
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