Arya News - Gen Zs in Singapore are exploring new income streams like online platforms and micro-influencing alongside traditional jobs, savings, and investments.
SINGAPORE – Ms Kylie Lee is still a teenager but she is an old hand at side hustles, from trying to sell her designs online to being a fashion micro-influencer.
The 18-year-old banking and finance student at Singapore Polytechnic stumbled upon Redbubble, a print-on-demand platform, during the Covid-19 period.
The platform allows artists like herself to upload their designs, which can be printed on products like mugs, tote bags and T-shirts, and sold as orders come in.
Ms Lee takes a small cut of the proceeds for each piece that is sold.
But this was a venture that did not pan out.
“I was getting about three to five sales a month,” she said, adding that she earned only about US$20 (S$26) to US$50 in total after doing this for a year.
Still, she believes that such a way of working appeals to some Gen Zs, those aged 16 to 28, who value the flexibility of being able to put their designs online and earning some money whenever there is demand for their stuff.
While she has since stopped uploading her designs to Redbubble, she continues to be a fashion micro-influencer, where she shares about fashion, the outfits she sews and her music taste with her 26,000-plus followers.
She is not alone among Gen Zs in embracing new ways of making money.
A Prudential survey conducted in July 2025 found that 41 per cent of Gen Zs polled want to create multiple income streams while they are working.
The insurer surveyed 1,000 Singapore residents aged between 17 and 76, of which 250 respondents were Gen Zs.
The Straits Times spoke to some Gen Zs who said they will need to supplement their main income source – likely a full-time job – with other streams of income from investments or part-time work.
Ms Lee said side hustles will not be her main sources of income.
She will be looking for a full-time job when she graduates and is already investing some of her money for the long term.
Gen Zs’ motivations for pursuing a few income streams include saving for financial milestones and for retirement, as well as for pampering their parents.
Ms Loh, 25, a full-time engineer who prefers not to give her full name, gives tuition over the weekends to earn extra money.
She is saving up for her wedding and to pay for her Build-To-Order flat and the renovations.
She also hopes to put aside some money to go on overseas trips with her partner, family and friends.
Ms Rachel Handoko, 23, a graduate banking analyst, has been investing since she turned 18. The dividends from her investments and work income allow her to spend money on experiences with the people she loves.
For example, she has paid for her parents’ holiday – flights and hotel stays – with her own money.
“Money serves a purpose that is greater or more valuable than the actual sum of money itself,” she said, adding that it allows her to acquire things that are valuable, such as memories or quality time.
Mr Isaac Low, Ms Lee’s classmate in the banking and finance course at Singapore Polytechnic, said that one needs a stable job with good pay as a foundation.
But to retire comfortably, the 18-year-old said, there has to be other sources of income as well, such as from investing in dividend stocks or in properties.
He noted that in some cases, even with these two income streams, some people may still not be able to retire comfortably, especially if they plan to have a family and children, and also have to support their parents.
Currently, his main source of income is the allowance from his parents. He also gets dividends from his investments as well as from working part-time during the holidays.
Mr Lawrence Tan, programme and training head at the Institute for Financial Literacy, said a small segment, or 25 per cent to 30 per cent of the cohort, are well informed and have mapped out their financial plans.
Others like Ms Handoko have taken courses from PlayMoolah to learn more about financial wellness and investments.
PlayMoolah is a financial literacy start-up funded by the National Youth Council’s National Youth Fund.
Ms Handoko said the courses benefited her as she continues to apply what she has learnt about managing emotions in money matters, both in her daily life and future financial planning.
Mr Tan noted that about 50 per cent of the Gen Z cohort have not really started thinking about financial planning and believe that they can do it tomorrow.
Taking the freelancer route
The trend towards side hustles invariably leads to some Gen Zs hoping to make a living from them.
For those who are interested in pursuing a freelance career, help is at hand.
Ms Tan Ying Ying, director of NTUC Freelancer, said there are courses for those who are looking to carve out a freelance career.
The Freelancing 101 series teaches them the fundamentals – from setting up their businesses and handling contracts to pricing services and protecting their intellectual property.
She said freelancers can attend courses organised by the Institute for Financial Literacy to boost their financial awareness and go to NTUC’s Employment and Employability Institute (e2i) to get career guidance.
In addition, e2i offers a range of courses giving them opportunities to develop their skills and enhance their employability, Ms Tan said.
For now, NTUC Freelancer has not observed a clear trend that younger workers are choosing freelance work as their primary source of income.
Mr Tan from the Institute for Financial Literacy said that while the gig freelancer model may be suitable for those in their teens or early 20s, it may not be such a viable career option for those in their 30s or 40s.
“If you are at the stage of trying out to see if you can grow the business, that is fine,” he said.
“After a while, you will need to figure out where you are going to land.”
Mr Tan said much also depends on an individual’s life stage. Freelancing may suit people more if they are single.
However, if they are planning to start a relationship and have a family, they will need to have certainty of income, he added.
It’s still about saving and investing
Ms Jolene Quek, master financial consultant at Prudential Singapore, said the usual financial advice applies for Gen Zs too – they will need to save and invest consistently and regularly.
Some habits they can adopt include automating their savings, staying invested for the long term and mapping out a step-by-step plan to reach their goals.
Associate Professor Walter Theseira, who teaches economics at the Singapore University of Social Sciences, said it may be a little too early for Gen Zs to plan for their retirement when they are still in their early 20s.
“I do not think anyone can give well-reasoned answers to retirement questions if they are very far out,” he added.
Gen Zs would have little insight into what will happen over the course of their careers, or what their retirement and life expenses will be like.
Prof Theseira noted that this is not a Gen Z problem per se.
Previous generations also had the same challenges predicting how their lives would pan out when they were in their 20s.
Indeed, most Gen Zs think it is too early to do up a detailed financial plan for their retirement.
Ms Loh, the engineer, is just setting aside part of her monthly income for emergencies and future needs, and has not put further thought into planning for her retirement.
Ms Kek Yu Min, a third-year banking and finance student at Singapore Polytechnic, said she can realistically plan up to her mid-30s or 40s.
The 21-year-old is not going to decide on the retirement life she wants yet as she “cannot tell what will happen in the future and how the world will change”.
“Everyone thinks that if I invest now and hold my stocks for 30-plus years, I can retire with the investment gains,” she said.
“But you will never know how the market moves and you will never know what will happen to your life.”
Other Gen Zs said that while they may not have a detailed financial plan for retirement yet, they are working towards that milestone.
Mr Low said that by investing from a young age, he will benefit from the time value of money, or money growing in value over time.
He added that the best kind of investment portfolios are those that have been in the market for many years already.
“There are a lot of uncertain factors but it is always good to have a plan and to be able to adapt to the changes,” Mr Low noted.
Ms Lee pointed out that one can start putting aside money whenever there is surplus income, instead of spending it all.
“Put some of the money away into an investment that will give you dividends over time,” she said. “This will eventually help to contribute towards your retirement.”
Ms Lee is practising what she preaches, putting $50 to $100 every month into a regular investment plan.
It is not a lot but over the years, it will add up to something, she said.
Likewise, Mr Johnson Gunasekaran, 26, a senior marketing manager at Tanglin Gin, Singapore’s first gin distillery, and who double-hats as a consultant at marketing agency Third Spaces Marketing, sets aside a portion of his income monthly into stocks and bonds.
Stocks and bonds may not be regarded as sexy investments but at least he is investing regularly, he said.
“Consistency is the real currency when you are 26,” he added.