College Income Opportunities
For many, our college years are some of the greatest years of our life. After 18 plus years of hands on parenting we are finally cut loose to experience the world on our own. This fork in the road gives young adults the ability to finally choose their own path right or wrong. For many, the freedom gets the best of them as they find themselves out of control and headed nowhere fast. For others, the opportunity to save their own path leads them to greatness that was impossible to fathom under the watchful eyes of their parents. Either way, one thing every college student needs more of is income producing opportunities. In my parents era the only way to make extra spending money was to work a night job at a local restaurant or grocery store. This meant long hours and little time for rest and exploration. Nowadays, the internet has opened up another avenue for college students to make money from the comfort of their own dorm room. This is our top 5 list of how to make money online while in college.
- Raise Money Through Crowdfunding
Crowdfunding is the process of raising funds through small donations from hundreds or possibly thousands of different people. Over the last few years people have successfully used crowdfunding from everything to start a business, raise money for a passion, or even fund a vacation. In fact, there’s no limit to what you can use these funds for as long as you specify that at the beginning when you set up your crowdfunding campaign. The majority of people using crowdfunding do so for charitable causes. These campaigns seem to do best because people are more likely to make donations if it’s a cause they feel is beneficial for them. Although, there have been many cases where people have basically raised money for themselves with crowdfunding. For example, maybe your a college student struggling to pay your bills and you set up a campaign to help put yourself through school. If you put enough promotion behind your cause it’s highly likely at least some people would donate.
2. Become a YouTube Star and Monetize Your Videos
YouTube is another great way to make passive income without having to leave your home. Currently, there are thousands of “YouTube stars” who simply create videos about interesting subjects and in turn get millions of views. YouTube has a monetization system that calculates the amount of views and pays the channel owner a certain percentage. For most aspiring YouTube stars the amount of monetization you will get for your videos is a very small amount. Although, if your able to build up a big enough channel the payments can be substantial. I know people who get a couple million views and are suddenly being paid up to $500 a month passive income. Plus, making videos can be done for free from the comfort of your home. Many people will say that they have nothing of value to talk about, but this just isn’t true. Everyone is an expert at something and if you can deliver value to people for free, eventually you will gain a following that you can later monetize.
3. Learn SEO and Become a Consultant
The SEO or (search engine optimization) business is one of the fastest growing in the United States. As the internet becomes an essential piece of everyones life, it’s important for business owners to have an online presence. For the majority of business owners this is problematic because they have no concept of how to set up a website, post on social media, or advertise their business online. This is where the online marketing consultant comes in. It’s a know fact that the younger generation is more proficient on computers than the older generation because they grew up using them. Studies show that humans can learn skills much better at a young age because they don’t have preconceived notions and other road blocks holding them back. College students on average are very proficient at social media, website development, and other online marketing tasks. To earn extra money simply set up an online marketing consultant websites and begin promoting it to your network. Then charge clients a hourly wage or a flat monthly rate to provide online marketing services for them. I personally know a search engine marking Portland Company that went from $0 – $20k a month in 12 months. Where else can you get that kind of opportunity?
4. Promote Affiliate Products to your Network
An affiliate product is a product that someone else has developed that you promote for a percentage of the profit. For example, an affiliate creates an online course about making money on the internet, you promote this course to your network and make some sales. If the product costs $100 then you might receive 10% of that for a $10 commission check. The more of these course you sell through your unique affiliate link the more cash you will make. Affiliate products usually are found in the self-help, dating, and other self-improvement type niches. This makes selling them easier because people struggling in these fields are desperate to find solutions and your product is there to help. There are dozens of different websites online dedicated to brokering deals with affiliates and potential promoters where you can find products to sell. I you have a large social network or are proficient with online advertising you could make good money selling these products. In fact, there are many affiliates out there who make millions a year promoting and selling products they didn’t create.
5. Create an Online Store and Sell Products
Recently, new software has been developed that makes creating an online store a breeze. Websites like Shopify allow just about anyone with basic internet abilities set up an online store and sell products online. In fact, many of the systems don’t even require you to physically ship the products out because everything is done in house. Imagine, you can have an entire online store full of tee shirts available within a days notice without having to physically have a single piece of inventory. Currently there are many companies who have developed systems to house your inventory for you at no cost and ship the product directly to your customer when you get an order. This system is so efficient that you could set up online stores that were almost 100% passive income. A few years ago this concept would seem like a dream but it’s now a reality. At this point, the hard part is not setting up the online store but instead driving the targeted traffic to the website and having people buy the product. For a college student looking to make more money this is the perfect passive income stream. Traditionally, college students are more knowledgable about trending topics and ideas therefore they can monetize the trend before the big companies find out about it.
It’s now more expensive than ever for college students to afford rent, tuition, and food. Over the last decade we have seen college tuition price increase multiple fold and incomes just haven’t kept pace. For many, asking your rich parents for additional money is just not an option, so that’s why making side income is so important.