7 easiest techniques to earn money as a student

freelancer

If you are reading this blog post right now, then I believe you must either be a student who is trying to find out what exactly can a student do to earn money while studying. You might as well be a parent to a student or a friend or even a relative to a student who is trying to know exactly those jobs out there that a student can do to earn money while studying. If you are one of these people mentioned above then you have to search no more.

The techniques I’m going to show you in this blog post will not only help the student while studying but may turn out to be a vital source of income for them even after graduating from college or university.

As once being a student I will love to disclose briefly my life back in the days when I was a student. In most families if not all when a child get to the level of the university, they assume he or she is fit to take care of themselves financially when it comes to feeding and utility bills most especially in the United States of America and other Western Countries.

The year 2013 was my first year in the university and as explained above I’m from one of those families where as a university student you have to take care of your bills and other expenses.

During my first and second year in the university I used to be a part time teacher in the evening section of a certain secondary school. That is I will go and study during the day and in the evening I go and teach in the evening school. Though the pay package was not enough but it helped me to cover some of my expenses like house rent and feeding.

During my final year, my study time table was programed in the evening so I had to stop working with the evening school and got another teaching job in another secondary school as a full-time teacher. I used to go and teach from 7:30 am to 3:30 pm and by 4 pm I was already in at the university campus ready to begin my own studies. While teaching I invested some of the money I earned into cryptocurrency that is I used some of the money to trade Bitcoin, Etherium and the rest.

I took out time to explain what I did to earn money while I was a student not just to motivate you but to let you know that it is very possible to earn money even while studying. So no let us take out time to examine some seven ways through which a student can earn money while in the university.

1. Investing

It is true that a greater percentage of young people develop some degree of fear whenever they hear of the word investment. I usually don’t blame them because just from the common definition of an investment it shows that there is a 50/50 probability that the money invested can disappear in thin air if not properly managed.

Looking at the financial point of view, an investment is a financial asset bought with the idea that the asset will provide income further or will later be sold at a higher cost price for a profit.

In order to begin investing you must understand the difference between asset and liability.

As a world known personal finance guru, Robert Kiyosaki explains that assets put money in your pockets, while liabilities take money from your pockets. In his book, he mentioned that cashflow is key. And based on these definitions, something is only considered an asset if it provides you with positive cashflow and puts money in your pocket. Conversely, if something takes money from your pocket, resulting in cash outflow, it is considered to be a liability.

Do not feel discourage if you really cannot understand the financial words above but continue reading keenly as we move further to see the various investment vehicles a student can engage in while studying.

Foreign Exchange Trading (FOREX)

As explained by “Investopedia” Forex (FX) refers to the global electronic marketplace for trading international currencies and currency derivatives. It has no central physical location, yet the forex market is the largest, most liquid market in the world by trading volume, with trillions of dollars changing hands every day. Most of the trading is done through banks, brokers, and financial institutions.

The forex market is open 24 hours a day, five days a week, except for holidays. The forex market is open on many holidays on which stock markets are closed, though the trading volume may be lower.

Its name, forex, is a portmanteau of foreign and exchange. It’s often abbreviated as fx. To get more inside about forex and how to trade forex, follow the investopedia website: Forex (FX): Definition, How to Trade Currencies, and Examples (investopedia.com).

Stocks Trading

A stock is simply a share in the ownership of a company. When you buy a stock, you are buying a piece of that company. For example, let’s say that you buy one share of Apple stock. This means that you now own a tiny portion of everything that Apple owns—its factories, its patents, its products, and so forth. As an owner of Apple stock, you are entitled to a portion of the profits (or losses) that the company makes.

In simplest terms, stock trading is the act of buying and selling stocks—pieces of ownership in public companies—on a stock exchange. When you buy a stock, you’re essentially betting that the company will perform well in the future and that the stock will increase in value. If you sell a stock, you’re betting that the stock will decrease in value so that you can buy it back at a lower price and turn a profit. To learn more about stock click here: What Is Trading Stocks? | Nasdaq.

Cryptocurrency Trading

Cryptocurrency trading is the act of speculating on cryptocurrency price movements via a CFD trading account or buying and selling the underlying coins via an exchange. To learn more about cryptocurrency and how to invest in it click here: Crypto Trading | What is Cryptocurrency Trading? | IG International.

Pros:

  • Investment can earn you a huge sum of money as compared to a job or even a business.
  • With investment your money work for you in many cases
  • Investment will give you time to do other things.

 Cons:

  • Investment can cause you to lose all of your capital (money) in just a single day.
  • For most investment you have to put out time to study how they work before investing your money

2 Tutoring

The Cambridge Dictionary defines a tutor as someone who teach a child outside of school, especially in order to give the child extra help with a subject he or she finds difficult.

As I explained in the introduction of this blog post how I used to be a teacher when I was in the university, you can also do same if you wish to earn some money that can cover some of your bills and other expenses.

You can decide to teach as a private teacher, and you can as well choose to teach in a secondary school or even in a kindergarten.

Teaching can be a very lucrative part time job for students especially if you are qualified to teach subject like English language. In some Asian countries like Japan, China, Malaysia and the Philippine, teaching English as a second language is really a lucrative job for students and many other immigrants.

According to ZipRecruiter, the average Tutor in USA makes $75,001 per year.

Pros:

  • Working as a tutor in most countries are a lucrative job that pays well.
  • Gives you the courage to learn how to talk to a crowd especially if you have a vision to become a public speaker someday.

Cons:

  • Time consuming to prepare lesson note.
  • Time consuming to teach.

3 Online Surveys

This technique of earning money is one of the simplest and mostly adopt by people who hate to work and usually want fast money. As a student, you can also use this technique as an added source of income while studying. So, then what is online survey all about?

Online survey or internet survey is one of the most popular data-collection sources, where a set of survey questions is sent out to a target sample and the members of this sample can respond to the questions over the World Wide Web. Respondents receive online surveys via various mediums such as email, embedded over website, social media etc.

Organizations implement online surveys to use the internet in order to gain insights and feedback about upcoming products or services, change in marketing strategies, enhancement in current features etc. With the progress made by the internet, more and more organizations depend on the data received and analyzed from online surveys to make integral changes in their functioning. For efficient data collection, organizations must choose an advanced and efficient online survey platform.

Examples of some online survey platforms include:

Qualtrics: Good for Seasoned Marketers

Alchemer (formerly SurveyGizmo): Helps Small Business Marketers with Some Experience

Zoho Survey: Good for Larger Organizations

SoGoSurvey: Fast, Small Business Deployments

SurveyMonkey: Popular Survey Solution for Smaller Companies

WorldApp KeySurvey: Enterprise-Oriented With Sophisticated Data Analysis

Checkbox Survey: Larger Companies That Don’t Mind a Learning Curve

SurveyPlanet : Good for Beginners

Outside Software eSurveysPro: Decent for Small Business Marketers

Toluna QuickSurveys: Aimed at Knowledgeable Users in Big Companies

Pros:

·        Easy to make extra money at your own comfort

·        Can respond to surveys at any time of the day

·        The survey platforms are open 24/7

Cons:

·        Too much popup Ads on some of the platforms

·        You will have to provide your personal info like email, password, pin, zip or postal code

·       Some of the survey sites are not protected

4. Rent Car Parking Space

As this is also a very lucrative means for students to earn extra money while studying, not all students may have this opportunity. A student can only have this opportunity if at the onset of going to rent a hostel around the university, they choose a hostel with parking reserved for cars. This way the student can decide to rent the space to other car owner who need a space to park their car.

Some students may decide not to use a car while studying so they can rent the space reserved for them to park their cars to those in need.

5. Become a Freelancer

Nowadays the lack of money to start a business and the scarcity of jobs have push so many young people especially graduates to become freelancers.

A freelancer is an individual who earns money on a per-job or per-task basis, usually for short-term work as an independent contractor. A freelancer is not an employee of a firm and may therefore be at liberty to complete different jobs concurrently by various individuals or firms unless contractually committed to working exclusively until a particular project is completed.

Typically, freelancers are considered independent workers and may do their contract work full-time or as a side job to supplement full-time employment, time permitting. Freelancers, as independent contractors, typically require signed contracts for the job to be done and will agree to a predetermined fee based on the time and effort required to complete the task. This fee may be a flat fee or a per-hour, per-day, or per-project fee, or some other similar measure.

A freelancer tends to work in the creative, skilled, or service sector, such as in film, art, design, editing, copywriting, proofreading, media, marketing, music, acting, journalism, video editing and production, illustration, tourism, consulting, website development, computer programming, event planning, photography, language translation, tutoring, catering, and many more.

According to ZipRecruiter, the average Freelancer in USA makes $68,924 per year.

 

Some renowned and profitable freelancing platforms include:

  • Fiverr

  • Toptal 

  • Jooble

  • com

  • Upwork

  • Flexjobs

  • SimplyHired

  • Guru 

  • LinkedIn

  • Behance

  • 99designs

  • Dribbble

  • People Per Hour

  • ServiceScape

  • DesignHill

  • TaskRabbit

 

Pros:

·           Control over your workload

·           Choice of who you work with

·           Access to diverse and meaningful projects

·           Latitude to set your own schedule

·           Freedom to work from anywhere

·           Flexibility to cater to caregiving or personal health needs

·           Ability to increase your income

·           Independence of being your own boss

Cons:

·           You don’t receive employee benefits

·           Your earnings may fluctuate

·           You are responsible for every aspect of the business

·           You have to learn to be your own best advocate

·           You could feel isolated at work

·           You may miss your people-time

6. Start YouTube Channel

It is true that the best weans of making money in business is through a community that believes in the business. Over the years YouTube have shown proven track record to be one of the most popular social media platform for businesses and individual brands to create an online community where they can sell their products or services.

YouTube has more than 2.6 billion monthly active users. YouTube Premium and Music together have more than 50 million subscribers in the world. More than ¼ of the world’s population uses YouTube every month.

Starting a YouTube channel as a student will give you an opportunity to grow a vast community of subscribers over the years. The good thing about is that once a community is created, you shall leverage on the community to make a lot of money for yourself as a student.

As of now once a YouTube channel has a total of 1,000 subscribers and 4,000 watch hours, the channel is qualified to join the YouTube monetization program.

For a student to create a YouTube channel he or she must select a niche that he or she is passionate about to start creating content.

According to ZipRecruiter, the average YouTuber in USA makes $60,004 per year

Pros:

·        There are many educational videos on YouTube that students can watch to learn how to create their own channel.

·        Can easily collaborate with other creators to gain more subscribers

·        Can make earn a lot of money once the channel qualifies for monetization

·        Income is passive

Cons:

·        Must learn additional skills such as graphic design. Video editing and fluent speaking in order to compete with professional creators.

·        Much time consuming

·        Must persist and consistently publishing new videos for your subscribers

·        Must do a lot of research to come up with new and valuable content.

7. Manage social media platforms for Small businesses

As the world’s population keep getting used to the internet every day, businesses turn to consider the internet as a place to improve on their sales and profit margins.

Nowadays there exist numerous social media platforms which businesses can use to advertise their products and services. Platforms such as Facebook, Instagram, YouTube, LinkedIn and Pinterest are the most popular platforms used by businesses to promote their products and services.

As a student you must take not that for a business to hire you to manage their social media platforms you must show a proof of track record. That is you must show the amount of followers or subscribers you have in each of these platforms.

As a student working as a social media manager for a small business can be a lucrative job.

According to Glassdoor, the average salary of a social media manager in the USA is $51,688

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