How to Make Money as a Student by Working a Part-Time Job Online
There are many different ways that you can make money as a student, but one of the most convenient and flexible ways to do so online is by working as a freelancer or virtual assistant. These types of positions allow you to work whenever you want and wherever you want, making them ideal for students who don’t want to miss out on any precious study time while they still have the opportunity to do so. Here are some tips to help you get started with your part-time job online as a student!
Work a full-time job
Most people probably don’t want to hear that they need to get a second job in order to make more money. However, if you do have extra time on your hands and you can pick up another shift or two at work, it might be worth looking into ways you can earn more without taking on too much extra work. Remember that there are plenty of options out there that may not directly involve working more hours—like finding creative ways you can save money (more on that here) or using some of your disposable income to invest in stocks. At any rate, when it comes down to it, getting a part-time job isn’t a bad idea for anyone who wants to increase their income.
Cut down on expenses
To make money as a student, you may need to start cutting down on expenses. Eating out less often and buying fewer nonessentials will free up extra cash that can be used for earning extra income. Most students have plenty of time on their hands—you might even consider selling items online or taking additional shifts at your job in order to bring in more money. If that isn’t an option, don’t forget about any jobs you can work from home; in most cases, you don’t even need previous experience! The bottom line is that there are lots of ways to make money if you put your mind to it. You just need to look for them.
Get some roommates
It may sound cliché, but making money off rent isn’t just about listing your room on Airbnb. The real profits are made when you get creative with your space. If you live with three roommates in a two bedroom apartment, consider subletting one of those rooms on Airbnb while using AirBnB’s private hosting feature to offer up your own private room. In what is essentially a win-win for everyone involved, good business sense (and basic math) can make you cash in big time if you play your cards right. And don’t worry – we’ll cover how you can make some extra bucks without signing any formal rental agreements or breaking any local laws later in that post!
Start looking at student financial aid options
It’s normal for students to worry about how they’re going to pay for college. After all, tuition can cost tens of thousands of dollars per year. But don’t let that discourage you from applying for financial aid—the government awards more than $150 billion in financial aid each year and grants often cover nearly 100% of your tuition costs. For example, Pell Grants (one of America's most popular grant programs) award up to $5,920 a year and are available to students with incomes up to $23,000.
Consider your child's cell phone plan
If you’re paying for your child’s phone, why not also get something out of it? Ask if they have data. Many parents don’t realize that most carriers will give them free, discounted data with their plan. Also find out what services are included in their plan; unlimited texting and voice calls should be standard on any quality plan! Lastly, shop around every six months or so to make sure you’re getting the best deal. As a parent myself, I would love an extra $25 per month towards family vacations!
After purchasing my daughter's first cell phone (she's 14), I discovered she could text nearly anyone at no charge. This includes people who do not live in our area code (we live outside her school district). As long as she texts from her own number, there is no charge... ever.
Consider all the possibilities
Your degree is a great tool that's opened many doors for you. But if you're looking for ways to make money now, don't just limit yourself to courses that pertain only to your degree. There are tons of online courses available in all sorts of subjects, from math and writing to business skills. Check out places like Udemy and Skillshare or browse through Open Culture's list of massive open online courses (MOOCs) offered by top universities around the world. These can be great not only for developing professional skills but also for building your knowledge base—and maybe even earning credit toward future degrees or certifications. If nothing else, they'll teach you new skills that could give you an edge over other job applicants when you're ready to jump back into school again.
Create an income statement and balance sheet
The first step to making money is knowing how much money you’re making—or spending—to make that money. An income statement and balance sheet (two different ways of looking at finances) provide insight into your business’s cash flow and profitability. If you can’t tell where your business stands financially, it can be hard to know whether or not you should expand operations or move on to other opportunities. Startups that have no idea how well they are doing in financial terms are often dead on arrival.
Build up an emergency fund
Too many students get caught up in their studies and working part time jobs—only to discover they don’t have enough money saved up for an emergency, such as when their laptop needs fixing or they end up with a flat tire. Having at least three months of living expenses in your bank account is ideal. That way, if you lose your job or need expensive medical care, you won’t have to take out a high-interest loan or sell off assets. You can open savings accounts online at banks like Ally and Capital One 360, or use tools like Acorns that help you round up spare change from purchases into an investment account.
Put your new skills to work
If you’re using your expertise in an interesting way, it may be time to consider parlaying your new skills into a small business. If you’re successful, it could mean unlimited income potential and independence. However, there is risk involved if you don’t plan things out properly; that's why many experts recommend starting with something small until you get some experience under your belt first. Best of luck on making money off of your newfound talents!
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