How to Make Money in Malaysia: Digital Revolution for Fresh Graduates & Ambitious Entrepreneurs

Looking to make money in today’s digital world? Whether you’re a fresh grad, tired of your day job, or just need a side hustle, you’ve got more options now than ever before.

Back in the 90s, life was simpler—houses were RM40k, and salaries were RM1,500. Fast forward to today, and everything’s more expensive, but salaries haven’t kept up. The good news? You don’t need big capital anymore to make money. With just your phone or laptop, you can be your own boss.

From Grab driving to running an online store, the opportunities are endless. 

The Gig Economy: Becoming Your Own Boss

The gig economy has opened up countless opportunities to make money on your own terms.

• Grab and Lalamove: Drive or deliver, set your own hours, and earn decent money. Many are pulling in RM7,000 or more a month. Even students can earn a few thousand if they're hardworking enough. I remember back then, the options were being a hotel bellboy, event promoter, or pizza delivery for RM3 an hour—barely enough to afford a McD or KFC meal after a whole day of work. You all are so blessed these days

• Foodpanda and DeliverEat: Food delivery is booming, and with flexible hours, you can make money without a full-time commitment.

• Freelancing on Fiverr/Upwork: If you’ve got skills in writing, design, or programming, these platforms let you offer your services globally.

• Task-based apps like GoGet: Run errands, do simple tasks for others, and get paid. It’s flexible, and you can choose jobs that suit your schedule.

• Tutoring and Online Classes: Platforms like MyPrivateTutor or even advertising your services on social media can help you teach anything from math to music, all from the comfort of home.

• Event and Photography Services: If you have a knack for photography, videography, or event planning, you can freelance at weddings, corporate events, or even small gatherings.

The gig economy gives you control over your income and lifestyle. You can do it part-time or go all-in—it’s all about how you want to hustle. The opportunities are out there, and you’re just one step away from becoming your own boss.

Building a Side Hustle: Small Investments, Big Returns

Not ready to quit your day job yet? No problem. You can still start a side hustle with minimal investment and see solid returns. Here are some low-capital ventures that can help you boost your income:

• Stock Trading and Investing: With apps like Rakuten Trade and StashAway, you can start investing in stocks or exchange-traded funds (ETFs) with as little as RM100. It’s a way to grow your money passively while learning the ropes of investing.

• Drop shipping: Sell products online without holding inventory. When a customer orders, your supplier ships directly to them. Low capital, easy setup, and flexible product choices. It’s a great way to earn with minimal risk, but it requires effort to find winning products and grow your store.

• P2P Lending: Platforms like Funding Societies let you lend money to small businesses and earn interest on your investment. It’s riskier, but the returns can be higher than traditional savings. Btw, only 11 P2P lending platforms licensed by the Securities Commission (SC) in Malaysia now, so be smart, don't get scammed!

• Content Creation: Whether it’s blogging, YouTube, or podcasting, building an audience can eventually turn into income through ads, sponsorships, or affiliate marketing. It takes a lot of hard work, time management, and dedication to boost income indeed.

• Affiliate Marketing: No product? No problem. Promote other people’s products on your blog or social media, and earn commissions on sales. Lazada, Shopee, and other platforms offer affiliate programs you can tap into. Btw, it requires a website with a certain amount of traffic to make this happen.

• Selling Handmade Crafts: Sell your handmade items on platforms like Etsy, earn USD! It is a global market, from jewelry to custom art, people are willing to pay for unique, handcrafted items. I did this about 8 years ago, worth it. 

The beauty of side hustles is that you can start small and build up over time. It might not make you rich overnight, but with persistence and smart moves, your side hustle can eventually become your main source of income.

How to Get Started Being Your Own Boss?

• Mindset Shift: First things first, you need to break away from the traditional job mentality. Think of yourself as your own boss, and be ready to take risks and seize opportunities. You are not working for bosses, you are working for yourself lah!

• Smartphone or Laptop: Most gigs and side hustles can be started with just a smartphone or laptop. Whether it’s driving for Grab, freelancing, or running an online store, your digital device is your most powerful tool. Don't worry, you're entitled to tax relief, which means you save money too!

• Skills and Learning: Depending on the gig or business you choose, you may need to pick up some new skills. Digital marketing, content creation, or even basic e-commerce knowledge can help you succeed. Fortunately, online resources like YouTube tutorials and free courses are easily accessible.

• Resources and Platforms: Identify the right platforms for your hustle. Whether it's Grab for driving (you could become a boss who hires more drivers for your company in the future), Fiverr for freelancing (you could outsource tasks to people you've hired, making passive or additional income), or Shopify for setting up an online store (you could become a dropshipper, owning a business that sells many products without investing in stock, or a Shopify ecommerce website developer, making money by helping others design useful websites), knowing where to start is crucial.

With just these basics, you’re already well on your way to becoming your own boss. It’s all about making smart choices, staying committed, and continuously learning and improving along the way.

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