How to Make Money Online in Malaysia (2023)

Looking for ways to earn more money? With the increasing cost of living in Malaysia and almost every other country, you may be starting to feel financial stress.

Having an extra income can put your mind at ease, whether you are just interested in getting some cash for living expenses or new investments.

With the adoption of digitization across industry and business practices, making money has never been easier online.

Now all you need is a laptop and stable internet connection to work from home and make money online.

But more significantly, the beauty of the web is that it is a powerful marketing network and sales channel, allowing for many creative ways to make money fast.

Who knows? If you have the right idea, these side-income gigs can transform into a lucrative business that will allow you to quit your job.

So how do you get started? Here we have compiled a list of 16 proven ways on how to make money online in Malaysia.  

With that said, these side hustles are not a one-time gig like filling out an online survey or selling pre-loved goods on Carousell.

These ways to make online money will require effort and time. So let’s go through the pros and cons, as well as minimum requirements, to see which fits you.

As consumers are now shopping online (thanks to COVID-19), e-commerce has given anyone the chance to become a business owner with an online store.

You can create or source products from OEMs and manufacturers to sell online. There are a few ways you can run an ecommerce business.

One way to start is to set up a listing on e-commerce platforms like Lazada or Shopee that are full of potential customers looking for your product.

However, getting sales may not be easy as buyers are price-sensitive, and you will need to develop a strategic pricing and sales strategy to win customers.

Building your own website can be a greater option in the long run.

For one, potential buyers are not directly comparing you and your competitors. And it also gives you more space to build a brand story that people will remember.

It’s easy to start, and you can create a Shopify store to use for free for 14 days.

However, you will need to find ways to drive traffic to your website, such as creating a Facebook page to advertise or blogging to generate organic traffic.

While startup costs for e-commerce are way low compared to a physical store, you’d still need some business capital for inventory, advertising, and logistics, among some.

If you like to design or create art, print-on-demand may be a gig you want to consider.

Many print-on-demand companies will allow sellers to customize white-label products with their own designs and sell them only after a customer buys.

That is to say, the company will only print and ship to fulfill the order when a customer made a purchase online.

This removes any need for holding any inventory and will allow you to test online business ideas without the risk of buying inventory — zero investment.

The best part is that you can print your design on various products like mugs, t-shirts, phone cases, wall art, canvas bag, and more.

Honestly, you can start this business online even if you don’t have any creative cells in your body. Just hire a graphic designer from Fiverr and start selling t-shirts.

As a freelancer, you are providing your service to a customer in exchange for a fee.

Everyone has something to offer. Companies looking for a wide range of services from search engine optimization, digital marketing, photography, virtual assistant, or voice-over.

The edge of freelance jobs is that you are your own boss. It is contractual work, and you can choose the hours to work or even take on multiple projects simultaneously.

This gives flexibility which makes it a good part-time gig for anyone. To pursue freelancing, you must set up your existing portfolio and resume.

Some of the more popular freelancing platforms that connect employers to freelancers are:

• Upwork connects freelancers to clients looking to hire talents for a project. Freelancers can create a profile and bid on projects they are interested in.
• Fiverr acts as a directory for freelancers where ready buyers looking for your service will approach you for the list of services and specializations you offer.
• Rtist is a platform connecting graphic designers to local companies. Freelancers can upload their creative work and browse job postings.

Though freelancing is a flexible way to make money online, it can be competitive as there are a lot of freelancers online.

The key is to zero in on a niche you are good at that sets you apart from the rest. Build your personal brand and highlight your relevant skillsets when delivering your pitch.

Another way to make money is by referring people to buy products or services.

This is called affiliate marketing, and it allows content creators to collaborate with companies to earn a commission when they refer their products to their followers.

All you need to do is sign up for an affiliate program and get a link to include in your content, such as a blog post or YouTube video.

When viewers purchase through your affiliate link, you will earn a commission.

In Malaysia, there are a few shopping platforms that offer affiliate programs such as Shopee, Zalora, and Lazada that pay about 4%. of the customer purchase.

For better visualization, here is how it works on Lazada:

However, it’s not just shopping platforms. You can find affiliate marketing network based on your niche. JVZoo, for instance, offers a list of internet marketing products with marketing materials for affiliates to promote.

From entertaining comical skits to delicious cooking videos, anyone can become a Youtuber.

The barrier to entry is low, and all you have to do is create videos that you can easily shoot using a decent phone and put together with video editing software.

But to truly succeed, you need to create a video that you are excited about. Offer quality content and value that attracts and resonates with your audience.

When your own Youtube channel hit 1,000 subscribers and 4,000 watch hours over the past year, you can start earning an income through ad monetization.

It can vary based on your Youtube CPM rate, but it is estimated that you can earn up to RM12 to RM20 per 1,000 video views.

That can grow massively as you amass the views by creating more videos. Every view pays, and you will be earning passive income from previous videos.

Many people are using online learning platforms and resources to explore new skills and grow in their careers.

Creating an online course that dives deep into the content they need and remove unnecessary clutter can offer great value to the audience that will become a solid passive income stream.

It may take up a ton of up-front work at the beginning, but once it is completed, minimal effort is needed to maintain and keep up the sales.

To start, focus on a specific topic and explore it more deeply than a single blog post or podcast can cover.

From email marketing to building a business, outline the key topics and choose a teaching method. It can be in the form of an e-book, video classes, or both.

Once you created the lessons, upload the digital materials to relevant platforms such as Skillshare and Udemy.

You may already have the experience and knowledge to open an e-commerce business or optimize the returns on ad expenditures.

Another way to expand your online income is as a consultant or coaching online.

Not only does this pay it forward as you guide new budding entrepreneurs not to repeat your past mistakes and build a network of like-minded individuals.

When it comes to coaching, know that students not only expect access to digital materials and notes. They expect a one-on-one talk with you to receive guidance and advice on their problems and situation.

If you love to teach, online tutoring may just be the right part-time job for you.

There are many online platforms in Malaysia and worldwide looking for tutors to teach just about any subject.

You can teach Computer Science subjects such as Java and Phyton on FavTutor or become a language tutor at Preply.

To get started, all you need is a listing on the relevant tutor platform, lesson materials, and a video chat app like Skype or Zoom.

For those who prefer offline teaching, you can also become a part-time tutor with Tuition Hero to earn some extra cash.

On the platform, they currently offer a rate ranging from RM30 to RM150 per hour and says that part-timers can earn about RM1000 to RM3000.

Confident about writing skills? Start writing and putting yourself out there by setting up a personal blog.

You can blog about what you love or use your own job as a job portfolio. Interested businesses who like your writing can reach out to your with job offers.

As a blogger, you can earn anywhere between hundreds to thousands writing a sponsored post for different companies.

If you are interested in this route, we recommend checking out Suraya, the blogger behind Ringgit Oh Ringgit who found success in the personal finance space.

Not just that, you can make extra money off your own blog by adding banner adverts to your website and running Google Adsense.

A blog is also a way to build and grow an email list of highly-targeted people who will be interested in the things you have to say.

You can simply send an email newsletter to direct more traffic to any page or recommend your favorite affiliate products to earn a commission.

Mobile applications is another great way to earn money.

Just think Flappy Bird or Instagram. Though you do not have to think of the next big idea to start, creating an app that solves people’s problems can offer just as much value.

It can be an app that helps people track their expenditure and save money or one that will help people track movements on the stock market.

However, when coming up with your app idea, also consider your monetization strategy. Some ways you can earn from your product are through in-app purchases and advertising.

You can also pitch your idea on Kickstarter to test your app idea with the market before deciding if you should run with it.

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Though Airbnb suffered a hit from the pandemic, it is slowly recovering as people start to travel under the new “normal” circumstances.

As a popular accommodation provider, listing your home or spare room on Airbnb is still one of the most profitable ways to generate passive income with your real estate.

Especially as many travels locally, adding new hosting practices like a sanitizer dispenser and simplifying your space can help appeal to people at this time.

Do you like the idea of talking to make money online? If your answer is yes, you may just want to be a podcaster.

For requirements, all you need is a working microphone, a computer and editing software, and a space to record your podcast.

Like creating an online audio course, podcasting will need you to pick a niche to discuss. It can be educational, entertaining, and even informational.

You can upload your podcast on sites like Spotify, iTunes, Shopify, Anchor, and even in video format on YouTube.

As the popularity of your podcast grows and you gain a steady audience tuning in, you can monetize it using ads or affiliate networks.

If you love animals and have experience handling them, joining JomPaw as a pet sitter might suit you.

Many busy pet parents are looking for a pet sitter to take care of their fur babies when they are traveling or hectic at work.

However, you’d need to know basic pet care as you will be tasked with walking, grooming, and even transporting.

Depending on the tasks you take up, JomPaw says that you can make up to RM1,000 a month on top of meeting a bunch of new furry friends.

NFTs may still be a new concept to many, but it is something you would want to learn with the enormous amount of money it has sold for.

From memes and digital arts to music and films, you can sell almost anything digital as NFTs. The classic Bored Apes and CryptoPunks have sold for millions of dollars.

In Malaysia, artist Red Hong Yi has also sold Doge to the Moon, meme banknotes for 36.3 ETH, which was over RM325,000 at the time.

Still, not all NFTs are making a profit. Offer quality and value, as well as invest in marketing to create a desirable, successful project.

With influencer marketing becoming more popular, having a major following on a social media platform can literally pay.

Aside from the companies paying you based on the views you generate, many businesses are also spending money for a mention of their product.

TikTok and Instagram influencers can earn money through posting sponsored posts and advertisements on their social media account.

To be a successful social media influencer, however, requires effort and time to reach a level where you can actually influence your followers.

Identify a niche that suits your personality and passion. Stay real with your audience and only promote products that you actually support.

That’s it, ditch the online surveys and start one of these part-time jobs or projects that can actually get you a hundred to a few thousand ringgits.

But don’t quit your full-time job just yet. Make sure it provides a stable income that can support your living expenses and some more.

You can even try a few different ways to create multiple income sources and build synergy between each source of income.

Let’s say posting your entrepreneurship journey on social media to build a following. Your audiences can become your future clients, and those interested in starting their own business might even ask you for mentorship.

So, what are you still waiting for? Take a few hours to devise a game plan and start hustling today.