Me & My Money: Side hustles keep entrepreneur on his toes and in the pink

SINGAPORE – Hustlin’ and bustlin’ – that’s how entrepreneur Edmund Chong spends his days. The 26-year-old earns $10,000 a month through content writing, advertising, affiliate marketing, sponsored post articles, sales leads, e-books and generic digital marketing.

This lifestyle is what millennials would have once called the “hustle culture” – cramming as many things as possible into a day to get the most profit out of the 24 hours. Yet, Mr Chong’s work seems to fit more into what CNBC has termed a “Gen Z rebrand”, where people cobble together a portfolio of jobs and side hustles that are meaningful to them.

Mr Chong preaches what he practises by running a business called HustleVenture, a finance and side hustle newsletter he started in December 2021. It gets over 100,000 visitors a month across various platforms.

It provides tips for freelancers and fellow hustlers in industries ranging from graphic design to content writing on the online platform Medium.

Putting his funds into businesses that he truly believes in lies at the core of Mr Chong’s investing strategy.

“As someone who values the importance of making wise investments, I have come to the realisation that it’s essential to focus my attention on the areas where I spend the most time.

“I have been working on three different businesses, namely HustleVenture (a newsletter business), OscarFS (a facility management company) and AskProp (an AI real estate platform). By investing in these businesses, I am able to support and maximise their growth while also feeling in control of my own wealth,” he said.

Mr Chong’s interest in property stemmed from his early work as a real estate analyst before taking on positions such as property manager and chief writer for Navis, which is part of real estate firm Huttons. He still writes content for clients who are real estate agents.

“The concept of dwelling in beautiful homes has always intrigued me and I have a long-term aspiration of owning a landed property. I take pleasure in paying attention to intricate details in homes, which has motivated me to explore various aspects of the real estate industry,” he said.

By the age of 24, Mr Chong already had a net worth of $100,000, which he attributes to side hustles and being disciplined in saving 80 per cent of his income. He describes his savings habits as “frugal and strategic”.

“In my early 20s, I was more carefree and less concerned about financial security. However, during my national service, I realised that financial stability was essential for my future,” he said.

“In the beginning, I took on various side hustles and business ventures, including setting up vending machines to increase my income. While some of these endeavours were successful, others were not, but I learnt valuable lessons about money management and entrepreneurship along the way.”

Source link

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *