SINGAPORE: A 26-year-old woman recently admitted online that she lost S$100,000 in trading, leaving her devastated and anxious about what lies ahead. In a post on r/askSingapore, she elaborated on her situation, writing:
“Currently undergoing Debt Repayment Scheme (DRS). My current salary is 5.2K and to repy my debt around 2.7K a month. Rental is 750$, thus left me with 1.6K ish. Already deleted my trading account and I feel really bad for my parents. They are not aware and the money could’ve been splurged on them instead.”
Seeking support and advice from the Reddit community, she asked if anyone knew of remote or part-time job opportunities she could pursue to repay her debts.
“I am an avid learner and dont mind repetitive tasks such as data annotation and keying in data. I have tried upwork but only received one proposal so far. As I am not a PR nor SG citizen, so I can’t do grabfood/foodpanda. Thanks.”
“Not being a PR/citizen, your option is going to be severely limited”
In the discussion thread, Singaporean Redditors highlighted that due to her status not being a Permanent Resident (PR) or citizen, working multiple jobs on a work pass would be against employment laws.
One Redditor said, “Not being a PR/citizen, your option is going to be severely limited. Even most event companies will not touch someone who’s not, due to the permit issue.”
In light of this limitation, others suggested alternative paths, such as offering private tuition.
One Redditor commented, “Teach private tuition. Assuming you’re good with basic subjects like math and sciences, quite in demand. Pays better per hour and less effort than food delivery.”
Another stated, “Tap on your skillsets. Orrr give private tuition to primary/secondary school students.”
A few also recommended that she try out other platforms besides Upwork that connect freelancers to multinational clients, such as Fiverr, or create content on social media platforms.
One Redditor said, “YouTube. Create content. It takes time, but residual income from ads can be quite a lot, plus affiliate programs off of Amazon.
Unboxing is done. Tech review is done and takes investment. Try making video of nature area of Singapore. Something that people will follow your channel and watch. Only equipment needed is an iPhone and movie making app.”
In similar news, a 30-year-old man from Singapore shared on social media that he had incurred a loss of nearly S$500,000 from ‘day trading.’
“I am feeling very sad, guilty and anxious over the lost money, and the fact that I have effectively wasted so many years in building that,” the man wrote.
Read more: 30yo SG man says he “lost $500K savings” from day trading; “really need advice”
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