Money and college students generally go together like oil and water — it just doesn't happen. That doesn't have to be the case for you, however. Several tips can help you make money and save money while you're still in school without compromising your study time or the quality of your education. Whether your skill is writing, photography or serving drinks on the weekend, there are many options for college students to make money to spend on "books" and "tutors."
Rake in Dough With Freelance Writing Use your writing skills to make cash by checking for freelance-writing jobs online. You can set up accounts and bid on jobs at a number of websites designed to bring writers and clients together. The toughest hurdle is getting your first job, UnitedFreelancers.net says, but if you do a good job with it, others are likely to follow.
Make money off another skill The same steps for establishing yourself as a freelance writer may work for cashing in on your other skills. Perhaps you have a flair for illustrations, graphic design, website design or event promotion, which can a valuable skill in college. Also, offer to run errands, walk dogs or do other odd jobs for additional cash.
Try online money-making ventures A host of money-making ventures are already online, giving students a way to cash in during their free time. Taking paid surveys and entering sweepstakes can pay off in a big way, but don't push your luck too much. Opening an online store is another option, according to the Chillicothe Times Bulletin, if you are an entrepreneurial person. If you think you have a valuable skill of product to offer, who knows, maybe your business venture may carry on after college — eliminating the stressful endeavor of finding a job after graduations.
Invest in precious metals The value of gold continues to skyrocket in the U.S. 24 karat gold can bring in nearly $1,700 per ounce, according to goldpricenetwork.com. Such investments can be made through places that sell precious metals and rare coins like US Money Reserve, or other dealers. It's a good idea for college kids to learn how to manage their money and make investments before being released into the wild.
Tips for Saving Money Saving money can be just as important as making money when it comes to living on a student budget. Some quick tips include:
- Buy used text books - Good Education reports students spend as much as $1,000 on textbooks ever year, but you can slash that by renting books from the library or buying used books. Although digital textbooks were a promising option at one point, Good Education says a two-year study showed they didn’t live up to their promise.
- Have a goal in mind - The Chillicothe Times Bulletin recommends setting a goal to propel you to put money aside for a bigger purpose than your next cappuccino. Examples include a new car, student loan payoffs, a dream vacation or a start to your retirement fund.
Just as it's never too early to start saving for retirement, it's never too early to make money off the skills you already have. A college degree may give you an additional boost in the job market, but with the money you make and save with these tips, you may be perfectly fine until you get there.