Your Monthly Allowance Can't Help, But These 5 Tips Will.
5 Ways You Can Make Money While in School
For some, being in school means constant allowance from home and by allowance, I mean one that is substantial. For many others, this is not the case, and so a lot of students find they have to source for extra cash, just to sustain themselves through school.
If you ‘fall in this category’ and you’re currently in a school like mine, (I attended the Obafemi Awolowo University, by the way), where there are no limits to what you can do as a student; you’ll find there are a lot of money-making opportunities around you. In this post, I’ll share a few.
1. Take up a Part-time Job
Back in school, a friend of mine had numerous financial problems. It was so bad that he couldn’t even afford to pay his school fees. To keep himself in school however, he took up a part-time job in one of the school’s restaurants. They were aware he was still a student, so his work schedules were favourable. By doing this, he made money and even got free lunch to eat on the side.
On the down side, taking up a part-time job can be quite hectic, especially because it’ll require a lot of your time and energy, shuffling between your classes and your job. Some students may also find it difficult taking up jobs within the school, for fear of being questioned or scorned by schoolmates, so they take up jobs outside school, which may even be more hectic.
Another way to take up a part-time job, without having to go through all that stress is to maximize your holidays. Whenever the school is on break (short or long), you can find something worthwhile to do and earn some money before going back to school.
2. Start a Business
Of all the ways to make money while in school, starting a business is one of the most profitable. There are however limitations to this because there are some schools that do not allow it. If however, that isn’t a problem for you, then to make more money, you can consider starting a business.
When I was in school, my hostel mates used to sell all sorts of things. From toiletries, clothes and accessories to food stuffs and even rendering services such as tailoring and dry cleaning, there was hardly any need for us to go outside the hostel to buy anything. As long as students had it for sale, we’d patronize them.
If you don’t have much, you can start small, but if you have a good capital and you’re very enterprising, you can venture into larger businesses, within or outside your school premises.
3. Monetize your Skills and Talents
Another way to make money while in school is by making use of your skills and talents. I remember some of my classmates making lots of money from just singing and dancing. Of course, they branded themselves as pros and some went on to get themselves signed with a record label, but before they did, they simply found a local recording studio to release their music and they made money from selling those songs.
What are your skills and talents? For me, one of mine was teaching people and I used this to help my classmates and junior colleagues understand their notes better when preparing for tests and exams. Once you recognize yours too, ask yourself what value you can render using those skills. People always pay for value.
4. Organize Events
Organizing valuable events is also another way to make money while in school. While this might come off as a little selfish, it isn’t at all, as long as you are offering people something in return.
These events might come in the form of hangouts, tutorials, conferences, or even entertainment shows that will require people buying tickets to gain entrance. They could even come in form of educative workshops.
On one particular holiday, a friend of mine organized an event for the kids of the university staff. It involved training them in basic things such as baking, beads making, etc. To enrol their kids, interested parents had to pay money and my friend, in turn earned a lot of profit from that initiative.
So, organizing events in exchange for money is simply offering value (which can be anything that the receiver holds in high esteem at the moment) for value (the money you receive in turn) …
5. Start a Blog
Finally, for this list, you can also try blogging as a way to make money. By blogging, I really do not mean personal blogs, except you know how to grow your audience or page views really fast and attracting adverts won’t be a problem.
But for the purpose of this post, blogging here refers to business, say for instance you open a blog dedicated to helping students find affordable accommodation within the neighbourhood – this is a faster way to make money as you are meeting an urgent need, through your online platform that students will be willing to pay for.
More recently though, another common kind of blogging students use is through social media. Instagram, especially. You can harness your social media to build an online brand, to become so influential that others might want to advertise or run online campaigns through your platform(s).
Now, if you’re a student already with an extra source of income? We’ll love to know what you do. Also, if there are other ways to make money while in school, which we’ve missed out, feel free to share them with us.