Financial Benefits Of Having A Second Job

For the longest time, moonlighting was seen as a means to take on extra work in order to supplement one’s full-time employment. It was exclusively for underpaid employees or those who are severely strapped for cash. Nowadays, moonlighting and having a second job are seen as acceptable means to expand one’s income without the weight of stereotypes.

Having a second job does not only expand your wallet, but also maximize your skills and talents. Many employers are open to the idea of giving their employees the freedom and flexibility to take on other jobs to keep up with the rising cost of living. To illustrate, combining your full-time job with a 20-hour per week sideline can pull in a greater income. You may also combine two part-time positions to get an income that will equate to a full-time position while working for less hours per week.

That is just the beginning. The following are other benefits of having a second job.

LESSENING YOUR TRANSPORTATION COSTS

Four years ago, I juggled my work as an enrichment teacher and as a freelance writer. As a teacher, I needed to travel three to four times per week around Singapore. While, my job as a freelance writer brought me to the comforts of my own home.

If your second job is either at a home office or at a place near you, you will be able to save more money on transportation costs. This situational advantage can help you shave dollars on monthly petrol consumption or EZ-Link top-up.

OPENING NEW JOB OPPORTUNITIES

We cannot fully guarantee that the economy will stay the same in a few years time. Say you lost your job. If you are running out of full-time job options, you may try your luck in several part-time employment positions that can eventually turn into a coveted full-time slot. After all, it is more cost-efficient for an employer to hire individuals who are already trained than to hire individuals who are unfamiliar with the field.

When given the chance to partake in a team as a part-timer, show how eager you are to know the tricks of the trade. Volunteer your time and exhaust your energy as much as possible. Do not waste the opportunities given to you.

GIVING MORE MEANS TO PURSUE OTHER ACTIVITIES

Freedom – is easier said than acquired. Experts say that people who have second jobs or second careers have a higher sense of freedom such as the feeling of not being shackled to one company. Furthermore, practicing in a different field gives you a financial cushion in case the economy becomes sour towards your other career.

Having a second job gives you more freedom to pursue other activities that will showcase your skills. If you are thinking of switching careers and want to minimize the risk, take on a part-time position that will enable you to test the waters. For those people who lack prerequisites or academic credentials to pursue their dream job, a part-time position may serve as a stepping stone that provides free training and meaningful experiences. While, others may use part-time positions as a means to climb the ladder within an existing field. For instance, a teacher may obtain an entry-level part-time work in order to finance his graduate studies. Further education will land him a more lucrative job in the field.

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It is up to you to find ways to maximize your income and make the most out of your second job.

Sources: 1 & 2

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How To Become A Great E-Commerce Seller

Technology advancements paved way to the invention of e-commerce. E-commerce is the activity of buying or selling something via the Internet. From Instagram to Carousell, various websites and apps enable Singaporeans to practice e-commerce. That being said, here are tips on how to become the best online seller out there!

STEP #1: DEFINE YOUR BRAND

What are you willing and not willing to sell? What are the teens buzzing about these days? Pearl hair-clips or vintage headbands? How about the working adults? Are herbal oils in demand for pain management? Before you decide on putting a collection of products online, you must do your research.

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Look for sellers that offer the same products and see which products are on top. This ensures that your products are attractive and in demand without having to lose money in the process. As you diversify your product range and start selling more, you may need to find a warehouse.

STEP #2: NARROW DOWN THE COSTS

Opening a physical store entail a painfully long list of operation costs. It comprises of rent, interior design, electricity, utility, and other expenses. Not to mention, you have to maintain the overall look of your brick and mortar store.

Fortunately for you, you have avoided these expenses by opening an online store. You must start your business right by deciding which costs are necessary. Cut down unnecessary costs such as hiring additional staff.

STEP #3: OPEN AN ACCOUNT

To become an e-commerce seller, you can either open your own website or sign-up under an established one. For instance, you may set up a seller’s account at Lazada. It is easy!

As a prospective seller, you must provide basic contact information about yourself and the shop that you want to open. Next, you have to list down your products using Lazada’s Store Builder app. Ensure that you build appealing pages to increase client engagement. Lastly, you have to provide legitimate documentation. This documentation includes:

a. Your Business Registration Certificate or Business Owner Identification (NRIC),
b. Your list of directors,
c. A bank statement, and
d. GST letter (if applicable)

STEP #4: MARKET YOUR BRAND

Last but not the least, you must increase the visibility of your brand. Already established e-commerce websites have a lot of traffic, so you are at an advantage. You do not have to shell out more marketing budget. Nonetheless, you can always promote your products or services on Facebook and on Instagram.

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I cannot deny that many Singaporeans turn to social media for product or service reviews. So, make these reviews count!

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5 Helpful Tips On How To Work From Home

Working from home is not just an option, it is a way of life. Overhauling the way you work can either make or break your career and sanity. Follow these helpful tips to get you started:

TAXATION RULES

One of the first steps to straighten out your finances as a freelancer is to know what your filing status is. In the Singaporean tax code, there is a huge difference between employment and small business types. Knowing which one you fall under on will save you in the long run. The government judges your status based on whether you take some risk of doing business or you get a share of the profits.

For instance, you may think that you are subject to the self-employment tax as a sole proprietor of a company. However, the law may consider you as an employee if you only have one client who supervises you, dictates your regular hours, pays you per hour, and gives you benefits.

GOAL SETTING

As a freelancer, it will help to develop both long-term and short-term goals. The former helps you to create a direction, a purpose, and a will to push forward. Long-term goals enables you to improve your money management and increase your job satisfaction despite working from home. For example, in 3 years time you can expand your business to reach international clientele.

While, short-term goals give you achievable targets. These targets will help you pay the bills and track your cashflow.

DAILY SCHEDULE

From my experience of working from home, I noticed how important it is to keep everything organized. You must have time management skills and motivation to finish each task. For example, you may set defined working hours when you work from one company. Try to avoid phone calls or emails beyond your regular schedule.

It is easy to get trapped into working any time and any day when you are working from home. Devise a plan to balance out your work and personal time to maintain your sanity. Every morning, you may plan a couple of breaks such as half an hour for coffee drinking or fifteen minutes to go outside. In reality, you must pull out your body from the laptop and have brain breaks.

HEALTHY SOCIALIZATION

Working from home can be isolating for most people. When you are used to being in an office filled with lunch buddies, it can be a significant adjustment to leave everything behind. This is why you must meet others on a regular basis. Meet your clients face-to-face, socialize with a group of people who share the same hobby, or invite your office friends for dinner.

Working from home saves you from a lot of awkward and embarrassing social encounters. But, you still need to interact with others to keep your mental health in tact.

WEEKEND SANCTUARY

As you are working in the comfort of your own home, things can get mundane and exhausting. Your life can be a series of completing tasks without a weekend to look forward to. Be different!

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Allot at least two days to enjoy yourself without having to think of work. Spend time with family and friends during your weekend sanctuary. Otherwise, you are comparable to the lifestyle of graveyard or red-eyed shift workers.

Sources: 1 & 2

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Surefire Ways To Make Your CV Stand Out

Your heart is pounding and your sweat is drenching. Within your hands are your Curriculum Vitae (CV) and other supporting documents. You are about to answer some interview questions. An interview that can either make or break your career.

One of questions that you prepared for was: “What makes you stand out among your peers?” It is a query that underlies your attributes and characteristics. It sets you apart from the rest. This question can also be answered by a well put together CV. Highlighting your distinct characteristics can help the interviewer determine whether you are the ideal candidate for the job.

On that note, here are 5 ways to ensure that your CV stands out from your peers.

#1: PLAY WITH COLORS

Colors play a huge part in creating impressions. Red can ignite excitement while green can induce calmness. You have to understand the association between a color and your brand. This way, you can choose a palette that will best describe your brand.

Stick to darker blue hues to convey loyalty, honesty, and responsibility. Use red to convey passion, aggression, and emotion. Lastly, you may use turquoise to convey prestige and high ideals.

Do a quick search on Color Psychology to determine the colors that you can use on your CV. Use these colors to highlight the headers or as a background.

#2: LIMIT YOUR BULLETS

I, for one, tend to skip on some lengthy bullet points. As an interview, I look for at least four bullet points for each section. I do not need to know the entire story on how you became a professional! Choose your bullet points wisely.

Be specific whenever possible. You cannot put a bullet point stating that you have “improved the sales considerably”. Instead, you must use quantitative measurements (e.g., improved sales by 20% in the last quarter).

#3: CHOOSE YOUR SKILLS

When it comes to CVs, one skill seems to pop up more often. This skills is none other than communication. You see, almost all the jobs require you to have excellent communication skills. Hence, there is no need to claim it. Show off your excellent communication skills through the interview.

If you are still insisting that putting communication skills in your CV is a must, you have to give examples. Say that you have spoken in workshops or company team buildings. You may also narrate your contributions on website or on print.

#4: EMPHASIZE YOUR ACCOMPLISHMENTS

Your accomplishments can set you apart from the rest. Use powerful verbs when doing so. Begin with enticing keywords such as improved, resolved, initiated, and increased. These go beyond simply stating your duties and responsibilities.

Remember to describe your previous employment experiences by highlighting how you solve the problems. This way, you stress that you added value to the company.

#5: HIGHLIGHT YOUR AWARDS

Aside from accomplishments, awards are tangible form of recognition. Include a category for awards or honors that you received throughout the years. Demonstrating that others value your contributions can greatly influence the interviewers decision.

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Quality recommendations are another form of recognition. Thus, you have to select people who know your skills and accomplishments the best.

Sources: 1 & 2

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Newbie’s Survival Guide To Working From Home

There are two types of perspectives that one can have about freelancers. Some people perceive working from home as a coveted dream. They are attracted with the idea of having to work in their pajamas, of avoid the long commute, and of being able to interact with their family without sacrificing income. In contrast, there are other people who view this setup as an impossible environment to be in. It is understandable! Working from home comes with varying degrees of challenges.

However, you must not lose hope. You can successfully transition from a traditional office to a flexible environment with the right strategies. That being said, here are just some tips that you may employ to transition with ease.

CREATE A DAILY SCHEDULE

Much like a traditional workplace, you must follow a daily schedule to stay on track. Set your working hours and avoid personal phone calls or emails that can distract you from your professional time.

Let us face it! It is easy to get swayed by your children or neighbors to work any time of the day. While starting at 10 am sounds exciting, you must manage your time wisely to keep your sanity in tact. Not everyone is hardwired to be well-organized and self-sufficient. So, be honest with yourself before you take this huge leap.

ASSIGN A WORKING NEST

It goes without saying that you must set aside a specific place exclusively for work. Whether it is as tiny as a storage room or as wide as your master bedroom, assigning a working nest will help your mind shift from its restful state to its stimulated state. You need to condition your mind to work despite being in your comfort zone.

More so, you may use your home office as a means to apply for formal records. You see, some institutions require you to assign a special place of business or a place to meet clients.

RETREAT WHEN NEEDED

As mechanic as day to day seems, we are no robots! Burnout can hit you at any moment. This is why you must plan your holidays. Whether you want to book a food trip in Bangkok or a Yoga retreat in Bali, you deserve to unwind.

Say you do not have the budget to travel overseas. Opt to schedule activities that will allow self-improvement instead. You may be interested in painting, pottery, or petting animals. Something that interests you can open avenues of pleasure in the future. Take it as a means to reduce the stress of being a freelancer.

SET A LINE

Last but the not the least, you must set a line between your “work-work” and your “housework”. It can be tempting to clean a dirty sink or to do the laundry, but you must do these chores outside your work hours. If you cannot fight the urge to do housework; you may use your break time. Blurring the line between work and housework can often lead to avoiding the tasks that need to be done.

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It can be scary to take the leap of faith. However, that fear will only make you stronger! What do we say to fear? Not today!

Sources: 1 & 2

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