College is fun and exciting, but it also costs money. Latte on the way to the lecture, something decent to eat, a ticket for a concert and occasional beer, not to mention expensive books that are costing a fortune or expensive accommodation. It is hard not to get worried about money!
Of course, some students have trust funds and wealthy background, and they will never face these issues, but keep in mind that earlier you start to think about money, you will become better in managing it.
Making money in college can be difficult, but it can also be a great working experience that will help you make new friends, contacts, and who knows, maybe even find a new career. These 4 ways of making money while in college will help you live a better life while in college.
- Part-Time Job
This is probably the oldest trick in the book: find a part-time job that will improve your financial balance. Sometimes people aren’t sure if they should focus on learning or working, and unfortunately, there is no general rule. Some working experience is always better than none, but degree matters as well. It is important never to neglect any of your responsibilities and to get the most out of the both worlds.
Finding a good work-college balance can be difficult, but if you get an opportunity to work in a field that is interesting to you, or that you want to major in – take it! It will be much easier to you to find a job later in the future if you already have experience in the field of your interest and will give you a whole new perspective. Also, a part-time job is the most reliable way of making money in college and teaches and it also helps you develop healthy working habits.
- Online trading
Financial markets are now all online and everyone can participate in trading. You can select forex, binary options or CFD’s if you like. Still, for this type of investment you should have some extra cash available for the deposit, usually $250. Some brokers have even lower deposit limits and allow trading for as little as $1, which makes this type of financial trading really attractive to younger people. Also, there are numerous mobile trading apps and social trading websites which make trading even more interesting and fun.
By educating yourself how to trade in financial markets, you will also learn how to make profitable investments, and how market movements can affect your financial status in the future. This is the especially good choice for economy or business students who understand how financial markets operate, or for those who want to improve their knowledge in finances.
- Selling Stuff You Don’t Need
Minimalism is the next big thing, and even if you are not focused on that type of lifestyle, you probably have more stuff than you need. Try to resell old books, clothes, and all the stuff you don’t need. Start an eBay auction starting with a minimum amount. If you don’t use it, it probably has no value for you, so any amount of money is good, right?
Also, make sure to control impulsive buy and reduce them to a minimum. Things we buy impulsively are usually the ones we don’t need and end up not using them or selling them. By preventing those buys, you will save money from the very start.
- Start Your Own Business
Even if you think you can never make it, college is a time when great ideas are born. If you find a group of friends that will support you – even better. You often hear that many successful companies have started their success story in a garage, but most importantly, they started because a group of young enthusiasts was ready to share their idea with the world.
Even if you are not next Bill Gates, having a company gives you legitimate and more serious. You can simply utilize your hobbies and create a small niche brand that has great potential. Utilize the fact that you are always on social networks and start a small agency. Even if you don’t succeed immediately, keep in mind that some ideas need time to grow and find the right audience.