There is no second thought about it; college is expensive. The dilemma with a student’s life is that frequently, your most considerable expenditure is college expenses, and compromising on those means compromising on your personal growth and even dreams.
Unfortunately, your expenses are not allowing for much cutting on costs in this case compared to any other period in your life. Increasing your income by requesting an update on the allowance coming from your parents will also not suffice. So instead, you can find a way to earn some handsome money.
Make money online with the Internet of Things
Managing studies with a part-time job is an arduous yet achievable task. We have listed a few passive or extra-income jobs that can help you earn money using technological advancing during your college life while maintaining focus on your studies.
There is no scarcity of resources on the internet for college students to make some extra money.
- You can start your blog or podcast, or sell second-hand and handmade items on platforms like eBay and Amazon.
- You can sell your tutoring through e-books and e-courses and also earn through digital marketing.
- You can earn through affiliate marketing. Your website, blog, or YouTube channel will provide you with income options through AdSense, sponsorships, and affiliate marketing.
- If you are tech-savvy, building mobile apps and web development for small businesses can be your side hustle.
The list could keep rolling until exhaustion. Yet, carefully considering your best option with your student-work-life balance might allow you to start earning money with nothing but your mobile.
1. Enter the Gig Market
It has been the sure ladder leader in passive income ideas for a long time. The freelancing world has evolved a lot in the past few years, so to use the word passive income would be an understatement for freelancing. The best thing as a college student for you is that you can earn in a category of your education line.
You can kick-start your freelancing journey even as a student, and you can take a break whenever you are stressed with a tighter schedule of exams. Be it article writing, digital marketing, web designing, SEO, or eCommerce setups; you can best match your earning potential by aligning it with your field of study.
2. Teach others what you have learned
Your juniors, not only at your campus but around the city, are continuously seeking help. Become a part-time and online tutor for them.
Online tutoring has also evolved with membership sites for students and tutors. You can create your membership website, or you can join an existing one as a tutor. If you wish to keep your own pace and do not like to get tangled with already tighter schedules, you can start educating youngsters through a YouTube channel.
Any mode of online or physical tutoring platform can provide you with the valuable option of extra side income.
3. Invest in high-yield instruments
This might be your option if you cannot work or do not have spare time. However, if you have enough money in your bank account, consider investing it in high-yield investment. Then, you can start an investment with a minimum risk-free amount.
Your high-yield investments include high-growth stocks, dividend stocks, and bank CD accounts. All these are investments that will give you an extra return than your average bank savings accounts.
4. Rent out your extras
You can rent it out if you have an extra garage or parking lot space. But renting out your property is not the only option. Consider renting your extra stuff like your bike or bicycle, car, and boat to others. You can rent your spare property through platforms like Airbnb, Uber, and Boatsetter.
You might also want to check out: Earn Passive Income with P2P Lending
How to make money online as a student?
Living a student’s life could be challenging even without having student debts to worry about, but adding those can turn everyday college life into survival. Such living leaves little to no room for unforeseen events, like a compelled home-based study situation. If you have to repay your student loan, and you want to run your credit card bills smoothly, you will have to match your income with expenses.
Creating a side income during college life can be your first step toward your future financial independence. Many young entrepreneurs are looking to start their businesses by working from home. It is not easy to balance a student-work-life balance, but it is by any means doable.
