Social anxiety, class after class, and pressure from old folks. These are just but a few of what 20+ million college students in America face. That’s not all; college debts lie on the horizon. In fact, the average student will have $37,172 in debt after graduation; this is a $20,000 increase from 13 years ago.
This is money a graduate can use to buy a new car, start their own business or place a down payment on a new home. However, it appears things will only get worse as the college costs are set to rise.
It’s the reason college students are ever broke, but it doesn’t have to be this way always. For all college students out there, here are 10 amazing tips for making money through your college years.
Become a Freelancer
According to Forbes, at least 36 percent of America’s workforce is in the gig economy. This is about 57 million people and is estimated to rise to over 40 percent in the next year. There are tons of freelance opportunities out there, including freelance writing, SEO consultation, web design, and graphic design, among others.
Such jobs can offer a handsome payout depending on your experience. For example, you can earn upwards of $11 an hour as a virtual assistant. Freelance writers charge by the word, per hour or per project. Many freelance writers make up to $5,000 per month!
Having a blog not only can help you make some money but could also become your primary source of income in the future. All you need is a topic you’re passionate about and know how to write one sentence after another. Of course, you would also need a lot of digital marketing knowledge, but don’t let that stop you, because you can learn everything in time.
Once you grow your blog enough, you can start monetizing it. You could get money from Google AdSense, advertisement in general, sponsored posts, and affiliate programs. The latter is a very powerful way to make passive income, as long as you manage to drive enough traffic to your website. The most important thing is to select what companies to affiliate with. As a student, a great idea would be to affiliate with eLearning platforms.
For example, companies like BitDegree, share 50% of their revenue from courses and most importantly they have a variety of courses that are mostly dedicated to digital professions so that the courses will be in demand. Not only you’d be able to make some money but would also support education and knowledge.
Consider a Work-Study Job
The campus is known for far in between classes. This leaves many students with acres of time spent doing nothing constructive. In fact, this is how many of them end up in crime and drugs. Instead, consider looking for a work-study position.
Many campuses offer such positions to help needy students pay their tuition fees. These positions range from library, science and computer lab assistants, cleaning the dining hall and more. You could end up finding a job related to your course, which can go a long way in building your resume.
What subject are you good in? Or better yet, what co-curricular activities are you good at? Once you identify these areas, you can leverage these skills to become a tutor with a credible tuition agency and earn an income.
You can also create an online course and sell it on sites such as Udemy for a small fee. You may think your topic may be too ambiguous, but you’ll be surprised to learn there’s a market for it.
Are you the caring type? One that loves making sure everything is in order? If so, then sitting jobs can offer an extra buck. This involves babysitting, pet sitting, and house sitting. All require constant attention and care.
If you prefer babysitting, then this recent survey will light your eyes. In 2016, the babysitting rates averaged at $13.97. They can be higher depending on the experience, the location, and the number of kids to babysit. With such rates, you can make enough money to get you by college expenses.
If you’re not a fan of kids, you can opt for dog walking. Besides earning money, it’s a great way of exercising.
Back in the day, video games were only a form of leisure. Today, people are using it to make money, and if you believe you’re skilled at a particular game, how about competing with other gamers from around the world. No, not for free, for a fee.
All you have to do is pick a game and practice until you become “perfect.” Next, find a local tournament by searching the internet. Enroll and start your pro-gamer career. Companies may spot and sponsor you by offering stipends. This is on top of the prize pool up for grabs.
For example, the winner of Street Fighter V at EVO walked away with a whopping $50,000 in just 2 days. You can also try your hand at real money poker over at OnlinePokerAmerica.com who cater towards players from the USA if you want a quick way to double or even triple your cash.
Rent or Sell Items
Do you have items you don’t use often? A bicycle, camping gear or video games? How about renting these items for a small fee? You can use online platforms for advertising your items, and all you have to do is create an account and list your items. If people love your items and related fees, then you’re a click away from making a sweat-free income.
Renting out items may take a while before you start making money. Holding a garage sale, on the other hand, is a great way of making quick cash. For example, you may not find time to play video games. Instead of letting these assets gather dust, why not put them up for sale.
You’ll be surprised at how many other players would kill to get a hold of these items. However, the amount of money you’ll get will depend on the items on sale and the state they’re in. Before selling anything, make sure to sort out items you no longer use and invite friends and relatives over for a garage sale.
Invest in Real Estate
This may seem a bit out of a college student’s league but before you skip this option, here’s a rundown of what real estate has to offer. With new regulations and the internet in place, it’s now easier to get funding or invest in a real estate project than before.
Crowdfunding for real estates is the new mode of funding, and with $500, you can invest in a commercial or residential real estate. After project completion, you’ll be entitled to returns from the estate, either as rent or proceeds from its sale.
Today, many companies offer paid internships, and the best part about it is you can do it from a remote location. This is a great option because you can extend the internship past the set period such as summer.
Apart from gaining valuable industry experience, you’ll also boost your income to cover your personal college expenses.
Start a Business
Are you an entrepreneur at heart? Do you love solving societal problems, especially on campus? Starting a business may be your way out not only with finances but also by equipping you with fundamental business skills. In addition, you can utilize multiple resources within your reach and scale the business.
The campus is a great place to experiment with multiple businesses because they have a huge population, which means many customers and great spending power.
Make Money by Saving
Chances are you’re spending way more than you can afford due to various factors. The most common being peer pressure all in a bid to escape the social misfit status.
With this in mind, it’s time to go frugal and live within your means. Review your budget, and if you don’t have one create one. College is a great place to develop great financial habits, such as saving. As little as the savings may be, you’ll be surprised to find out how much you can make.
These are a few of the many ways you can make money while in college. Remember, apart from earning an income to sustain your college expenses, you also gain valuable money lessons such as how to save and how hard it is to find a job.
It’s important to become self-sufficient as early as your college days. This way, you can pay off student debts and even make a career out of some of the jobs.