When it comes to intense studies, hectic social calendars and some serious ‘adulting’, managing your finances is never very easy. When you’re low on cash, you often feel isolated and stuck.
You don’t have time for a part-time job, you don’t want to get in any more debt, but you still need to pay for rent and weekly groceries.
Before panicking at the thought of being homeless by the end of the month, there are a number of ways to make a few extra bucks without having to commit to a job.
Some of them are short and low value; others could be your answer to financial worries throughout your degree. Either way, if you need some cash without long-term commitment, check out the money making ideas below…
1) Take part in research groups
Most universities have research sessions that require participation from students and the general public. Psychology departments often have studies they need people to partake in, usually offering financial reimbursement for your time and travel.
Take a look at the department’s webpage to see if there’s a mailing list you can join, or email the department directly to inquire.
This is a good option if you just need a little cash top-up or flexibility regarding when you can take part. You can expect to be paid anywhere from US$10 upwards depending on the study – plus you’re helping scientific breakthroughs in the making.
2) Offer tutoring services
Many students will be looking for extra help in their courses, and if you’re an older student, you’ll have the expertise needed to guide them.
Unlike a regimented job, you’ll have the freedom to choose when you tutor other students, how many you decide to help and in what way. You’ll also be able to determine your rates and take breaks whenever you need.
This will also help consolidate your own knowledge of the course to make sure you’re acing that complex material.
3) Pick up freelance work
If you’re studying a creative subject, there are likely to be freelance projects online you can sign up for. Although this is technically a job, you get the say on who you work for and how you complete set projects.
Freelance work can pay big bucks if you score a good deal, and it’s a great way to build up contacts before graduating.
You can use this source of income to support you all the way through your degree, or use it to top up funds when you’re running low. The beauty is that you’re in control.
4) Online surveys
Some companies will pay you to take part in online surveys for the purpose of market research.
These surveys can fit around your schedule, allowing you to choose whether you want to complete them during your lunch break or to wind down before bed. Again, this will enable you to pick and choose if and when you want to work.
Yes to more money! Source: Giphy
5) Invest in cryptocurrency
This might sound like something for the computer-geeks among you, but cryptocurrency is becoming increasingly easy to get involved in.
With many online tutorials explaining exactly how to get involved, you can jump on the trend. This is a slightly more risky strategy than the others as there’s no guarantee you’re investment will be returned, so start off with a small sum until you get to grips with the market.
There are stories of students who became billionaires through cryptocurrencies, so it’s potentially a way to fund your degree and even pay off all your debts.