Whether a freshman, sophomore, or senior, you likely have some bills to pay. While scholarships, grants, and loans can cover many of your expenses, you’ll still need to make some extra money.
Finding ways to earn a few bucks is always helpful when you’re on a budget, and there are plenty of options for making side gigs that can increase your earnings. But you should know that a side gig might affect your eligibility for need-based financial aid, so it’s important to find the right job and negotiate a fair salary.
Start by developing high-income generating assets, such as a blog or website that you can monetize. These will allow you to earn a steady income without working too hard.
1. High-Income Generating Assets
The best way to build wealth is through the accumulation of income-generating assets. These can take many forms, including mutual funds, savings accounts, fixed deposits, and property.
One of the easiest and most effective ways to earn passive income is by investing in stocks. This type of investment offers dividends, which can be received in shares or cash.
Another way to earn passive income is by renting your home or vacation property. This can be done privately or through a matching service like Shared Earth.
2. Sell Gently Used Clothes
Selling gently used clothes is a great way to make money as a student. You can also donate your old clothes to a charity to earn tax deductions.
You can sell your items online on websites like eBay, Poshmark, and ThredUp. First, however, it’s important to know how to list your clothes properly.
Before you put your clothes on sale, you need to take good photos of them. Photograph your clothes in good lighting and on a person so people can see what they look like.
It’s also important to price your items correctly. Most experts suggest setting your prices at one-third of the original retail price.
3. Start a Blog or Website
Starting a blog or website is one of the best ways to make money while you sleep. It can help you develop your brand and build a following while providing opportunities for better-paying sponsored posts or affiliate product reviews.
Start by brainstorming blog topics and choosing a niche you’re passionate about. A devoted audience will help you create regular content and keep your readers coming back for more.
Freelance work is a great way for students to earn extra money and avoid the hassles of working a full-time job. It allows students to work on their own time and on a flexible schedule, and the pay is usually good.
The key to freelance success is pitching yourself and your services effectively. This means understanding what makes you an expert in your field and what clients are willing to pay for your services.
To start, create a portfolio and include samples of your previous projects. This will help you build a reputation and gain the trust of clients.
5. Become a Translator
Becoming a translator could be your perfect career if you are passionate about language. You can work on various projects, from long documents to website content and even live events.
You don’t need a degree to become a translator, but you do need to put in the effort and build up experience. That’s why it’s important to start volunteering for free translation jobs as soon as possible.
This will allow you to create a portfolio of your translations and get testimonials from clients. These are invaluable when you apply for paid work and can help you land that first job.
6. Apply for Scholarships
Scholarships are a great way to pay for your education without needing to borrow student loans. They may come from schools, employers, individuals, community organizations, or other sources.
Some scholarships are one-time awards, while others are recurring throughout your college career. They range in value from a few hundred dollars to the full cost of tuition.
When you apply for a scholarship, make sure that you read the requirements carefully and fill out every piece of information completely. This will ensure that you don’t miss out on an award.
7. Sell Your Old Textbooks
If you’re looking to earn extra cash as a student, selling your old textbooks is a great way to do it. You can either sell them online or locally, depending on your preference.
One of the best ways to sell your textbooks is on websites like GoTextbooks. These websites will immediately give you a price for your used books and will ship them free of charge!