{"id":355299,"date":"2023-07-26T12:59:00","date_gmt":"2023-07-26T04:59:00","guid":{"rendered":"https:\/\/www.ziet.co\/v2024\/?p=355299"},"modified":"2024-10-01T14:33:41","modified_gmt":"2024-10-01T06:33:41","slug":"can-one-job-really-pay-all-the-bills","status":"publish","type":"post","link":"https:\/\/www.ziet.co\/v2024\/newsletter\/can-one-job-really-pay-all-the-bills\/","title":{"rendered":"#7 Can One Job Really Pay All the Bills?"},"content":{"rendered":"\n

<\/path><\/svg><\/span><\/span>Estimated reading time: <\/span>6<\/span> minutes<\/span><\/p>\n\n\n

\"#7<\/a><\/figure>\n\n\n

Timely updates to supercharge your wealth-building journey!<\/p>\n\n\n\n

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TABLE OF CONTENTS<\/strong><\/h3>\n\n\n\n
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  1. Can One Job Really Pay All the Bills?<\/a><\/strong><\/li>\n\n\n\n
  2. Word of the Week: Compound Interest<\/a><\/strong><\/li>\n\n\n\n
  3. Key economic dates: Fed Interest Rate Decision, GDP, Core PCE Price Index, ISM Manufacturing PMI<\/a><\/strong><\/li>\n\n\n\n
  4. What I\u2019ve been reading<\/a><\/strong><\/li>\n<\/ol>\n<\/div>\n\n\n\n
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    Can One Job Really Pay All the Bills?<\/strong><\/h3>\n\n\n\n
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    So, you have a job. Awesome!<\/p>\n\n\n\n

    And you may also have some dreams – maybe it’s the latest iPhone that has caught your eye, or perhaps it is the perfect vacation in Maldives. But if your wallet is playing a sad tune every month end, you might wonder if one job is enough<\/strong>. \ud83e\udd14<\/p>\n\n\n\n

    Why, you ask? Let’s break it down.<\/p>\n\n\n\n

    Say your income after deduction (tax, EPF, etc. ) is approx RM 5,000<\/p>\n\n\n\n

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    High rising expenses (especially in Klang Valley) leave us barely RM 800 a month to save, think about the coming wedding ceremony, kids, down payment for house, etc.<\/p>\n\n\n\n

    Of course, you’re thinking, “I’ll just get a raise!” – that will be great if pay hikes are handed out like ‘ang pows’ at new year. The reality, my friends, is that the average salary increase in Malaysia was about 5% in 2023<\/a>. If your boss isn’t the generous type, well, there’s always the side-hustle route.<\/p>\n\n\n\n

    Now, grab your notes (and perhaps a snack), let’s get hustling!<\/p>\n\n\n\n

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    Step 1: Identify Your Skills & Interests<\/strong><\/h4>\n\n\n\n

    This is your chance to transform your passion into profit. Consider your talents – we all have them, hidden or otherwise.<\/p>\n\n\n\n

    Are you pro at tutoring Maths?
    Or by any chance you are the neighborhood’s favorite baker \ud83e\uddc1?<\/p>\n\n\n\n

    Perhaps you are a Picasso with pixels and graphic design is your thing \ud83d\udc69\u200d\ud83c\udfa8!<\/p>\n\n\n\n

    Do not worry if you are none of that, because I used to be just like that. \ud83e\udd13<\/p>\n\n\n\n

    Back then, I have literally zero skills to sell, but thanks to Youtube, I picked up video editing and some photo editing with Photoshop and Canva, and that allowed me to start a small side hustle with a video editing and a social media management job.<\/p>\n\n\n\n

    The key is – look at what you’re good at, what you enjoy, and most importantly, where there is a market!<\/strong><\/p>\n\n\n\n

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    Step 2: Do Your Homework (Market Research)<\/strong><\/h4>\n\n\n\n

    Before you dive in, you gotta know the pool’s depth. Who are your potential customers? What are the current trends? Don’t worry; this is not as scary as it sounds. A bit of online research should get you sorted. Google Trends<\/a> and Department of Statistics Malaysia (DOSM)<\/a> can be a gold mine of insights.<\/p>\n\n\n\n

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    Step 3: Draft a Plan \ud83d\udcdd<\/strong><\/h4>\n\n\n\n

    Even if it’s scribbled on a napkin, have a plan.<\/p>\n\n\n\n