Being a college student can be expensive. Between spendy textbooks, steep college tuition costs, and expensive housing, you might be finding that you are drowning in expenses each term with no end in sight. In this article, you will get some of the best ideas for passive income for college students.
If you are able to work while you are attending school this can help, but there are going to be times where a job is going to get in the way of your studying and part-time work is rarely enough to help to truly offset your high costs.
Not everyone is able to get a scholarship for a full ride to college and not all the students who need to go to school can comfortably afford to go. If you have been trying to figure out how to make your college costs less prohibitive, you are not alone. This is a question that many college students grapple with every year, and often without much success.
If you want to learn about passive income for college students, read on for some tips and tricks!
Passive Income for College Students
Passive income is the best fit for college students since you need to have your hours free for studying and trying to get your degree finished. Passive income is income that is generated without you having to work hourly to get it, and this is the perfect fit for your college income needs.
1. Start a YouTube Channel
Do you love to go surfing? Maybe you hike or ride a road bike. Maybe you love to garden. Any of your interests can lead to a successful YouTube channel with a loyal following.
If you know how to edit videos, you can easily post your advice, exploits, or adventures on YouTube and sit back and let the advertising money roll in while you are sleeping, studying, and having fun. YouTube offers the chance for heaps of passive income when your channel is monetized and if you are fun and engaging to watch, you can rake in money this way.
2. Offer Help With English or Another Language
Colleges are multi-cultural places, and if you are a native speaker of a foreign language or you have connections with exchange students who need help with their English skills, you can make money tutoring.
Many people who head to a campus where the most common language is not their own can use help getting their schoolwork done and you can provide valuable assistance with their efforts and studies.
This is not truly passive income in the sense that you need to show up to help these people out, but you will find that often you can do your own studying while you are working with your tutoring students. You will be helping them and you will be working on your own needs at the same time.
If you love to write, there are many ways to create a blog that can be monetized. Maybe you love movies and like to give reviews of your favorites in writing, or possibly you travel a lot and want to tell people where to go and what to see when they head to locations you have been.
Whatever the topic of interest that you would like to write about, other people will enjoy reading your content if you are able to make it fun and relatable.
There are many kinds of blogs out there, from informative and how-to blogs to lifestyle and travel blogs. You can make any of these kinds of blogs and make sure that you post weekly to create a solid passive income for your needs.
4. Pet or House Sit
This is a great option if you love animals and you enjoy taking care of people’s homes while they are away. You will have limited tasks to take care of while you are caring for these homes and animals and you will essentially be making money while you sleep and study as you keep an eye on their property or their pets.
This is a nice way to give yourself a break from the apartment or dorm life that you have been living and many people will pay you very well for a few hours of actual work a day, just so that they can be sure that someone will care for their home while they are away.
5. Use a Rewards Credit Card
If you use a credit card anyway for school expenses, you should be making sure that it is a rewards card. These cards can offer you travel miles, money back, and sometimes offer savings for items that you buy all the time.
Always make sure that you keep these cards paid down or paid off since they tend to be high interest, but you can get some really nice income back from using this card for all of your purchases throughout the year.
6. Rent Your Bike or Other Stuff
If you have not been riding your bike or scooter, you can sometimes rent these items to other students who need transportation here and there. Any item that you feel comfortable allowing others to use can be a source of income if you are willing to rent it out for this use.
You might be able to help pay your fuel costs or save money for other needs simply by renting out items that you are not actively using.
7. Sell Study Materials
If you have had to make really detailed notes for classes, you should not throw them out when your class concludes. Offer those notes up for sale and make some money back for your original efforts. You will find that good study notes are in high demand for any kind of class and people will be grateful for the time that you have saved them. Study notes and materials can sell for a lot of money when marketed to those who will be taking the class after you.
8. Sell Your Textbooks
Textbooks are one of the biggest costs for any student and you should not sit on your textbooks after the term is over. You should always sell your textbooks to try and make back as much of the money that you spent on them as you can.
Passive Income Can Help You With Your College Budget
If you have been struggling to pay for college, you can use these tips and tricks to keep your finances on track as you get your degree. If you need help setting yourself up for financial success, we can help! Reach out to us for your financial planning needs!