The biggest worry college students have today is money, neither college exams, nor moving from their hometown to a new city or country.
According to the survey, nearly 60% of students worry about not having enough money to pay for college, while almost half of them worry about monthly expenses.
Unfortunately, struggling with financial worries had real-world consequences for these students, including affecting their wellbeing and having to choose between going to class and going to work.
The survey from the Ohio State University found out that about a third of the students have neglected their schoolwork due to money worries. Plus, nearly half of them also reported having to cut back on their class load due to concerns about their debts.
But that’s not all! Nearly 16% of students actually had to suspend their studies due to financial reasons, while almost as many transferred to a cheaper school.
Moreover, a report published in 2012 by Statista Research Department shows that college debt has many impacts on financial and life decisions after graduating. According to the report, nearly 40% of graduates claimed that they delayed a significant purchase, such as a property or a vehicle, because they were still paying for their college debt.
If any of these struggle sound familiar to you, you’ve come to the right place to learn how to perform better financially during college. Here are four side hustles you can get to earn more pocket money and get rid of a few financial stressors:
1. Start freelancing online
The gig economy is skyrocketing now more than ever before, so much that nearly 57 million Americans are part of it. And, it isn’t just due to people not feeling comfortable about the 9-to-5 routine anymore. It’s also thanks to all the benefits freelancing brings on the table, including flexibility, comfort, and the opportunity to earn some good money doing what you like, and you’re good at.
There’s just so many freelancing jobs to do from home, or college dorm, such as blogging, copywriting, designing logos, designing graphics, being a social media manager, or even doing voiceover acting. Asses your skills and what you’d like to do and start looking for freelancing projects to do in your free time.
The good news is that there are lots of freelancing platforms, such as Upwork or Freelancer, where you can find hundreds of projects suitable for your skills. And, all you need is a computer and Internet connection to do your job.
2. Become an investor
Sure, “investor” sounds like a big word, but it’s time to eliminate the misconception that investing is only for rich people. Plus, let us tell you a secret: there are a number of successful businesses today that were founded in college dorm rooms, including Facebook, Snapchat, and Reddit. So, why wouldn’t you be capable of earning good money during the college years?
Today, investing is easier than ever before. So easy that all you need is a computer, a strong Internet connection, and little guidance to gain some excellent investing skills. From investing in stocks, bonds, funds, and trading foreign currency, there are several investment options you can choose from.
Trading on the Forex market is, in fact, a very popular investing method these days among Millennials like you. You don’t need a significant amount of money to start with, and you can actually earn a lot if you trade consistently. Moreover, trading on this market also brings some unique advantages on the table, including the opportunity to copy the activity of an experienced trader, it is a 24-hour market and has low transaction costs.
Even if you are a beginner with this investing method, the good news is that there are many beginner-friendly stock trading platforms on which you’ll get all the tools and knowledge you need to start earning money with trading.
3. Become an Uber or Lyft driver
If you are lucky enough to have your own car during college, you can also earn some good money by becoming an Uber or Lyft driver.
Ride-sharing services are skyrocketing these days as more and more consumers fall in love with the concept. These services are growing in popularity for multiple reasons, including the growing usage of smart devices among customers, increasing demand for a price-effective manner of travel, and demand for solutions to decrease traffic bottleneck in cities. So, what better time than now to turn your car into a “taxi” and earn some extra cash?
The good news is that being an Uber or Lyft driver also comes with some student-friendly benefits, including flexible work hours and the opportunity to meet new people all the time. Plus, you’ll be the closest driver in a college campus filled with car-less students. So, since you are already helping your peers getting from A to B with your car, why not make some extra cash out of it?
4. Give tours
If you are lucky enough to live or study in a touristy location, you have a great part-time “business” opportunity.
It doesn’t take much preparation to give tours around the city. You need to know a little about local history, architecture, legendary stories, and the best places to eat around the city. You can advertise your tour guide services on social media, local news website, and travel metasearch engines.
Plus, if you aren’t sure that there will be many tourists looking for a guided tour, you can talk with your university’s admission office. Why? Because they might be willing to offer you a part-time job position to offer guided tours of the campus to prospective students.