7 best ways to earn income online without investments or shady schemes

Being a student, especially an international one, can be tough on the wallet.

Between tuition, living expenses, rent, and going out to socialise, it can sometimes be hard to make ends meet — one in five students consider moving back with their parents and transferring to a university near home to save on expenses, according to data from Experian.

Thankfully, technology has given us a way to get extra income. The Internet shows many ways on how to earn money online for students aside from taking on traditional part-time jobs

How to earn money online for students without investments

When it comes to earning money online, there are many opportunities for students.

More importantly, they show how to earn money online for students without investments.

Understandably, while investments have their own merits, not every student or their family are in a position to invest a hefty sum.

It’s also important to note that some investments are legitimate, like products offered by banks and other financial institutions, but many others are pure scams to rob you of your money. Remember — if it sounds too good to be true, it’s most likely a trap.

Thankfully, there are various avenues that don’t require you to risk your hard-earned money.

Instead of delving into stocks, trading and schemes where significant financial investment is often necessary, consider exploring these options:

Freelancing platforms

Many websites allow you to offer your skills in writing, graphic design, programming, or other areas without any upfront costs. You can connect with clients and receive payment in exchange for your services.

This approach not only helps you accumulate experience in your field but also provides a safer and more sustainable means of income.

Online surveys

Engaging in online surveys and market research is another avenue for students to earn money without investing anything upfront.

Companies are frequently seeking feedback on products and services, and platforms like Swagbucks and Survey Junkie offer opportunities to participate in surveys for cash or gift cards. Google Opinion Rewards is also a reliable platform, offering between US$0.10 and US$1.00 per survey completed.

While the earnings may not be substantial, they can add up over time, providing a steady income stream without the risks associated with investments and trading.

Content creation

Building a following and creating engaging content requires time and effort, but it’s a low-cost way to potentially earn money online without the risks associated with trading.

Brands are always looking for user-generated content (UGC) to share and showcase on their profiles, and some may even ask to repost your content for a fee or even partner with you for new content.

If you build a substantial following from content creation, you could even take it a step further with affiliate marketing, using platforms like Amazon and TikTok to share product links and earn a percentage from purchases.

You don’t exactly have to become a popular influencer for this. Simply building a loyal audience can lead to ad revenue, sponsorships, and other monetisation opportunities, whether it’s educational content, vlogs, or entertaining skits.

How NOT to earn money online as a student

While there are plenty of legitimate ways to make money online, let’s talk about a couple of paths you might want to steer clear of.

We’ve talked about investments, trading, and pyramid schemes. But there are also other platforms, like the type that could affect your image, reputation, and sometimes even personal safety.

Explicit platforms

That’s right — we’re talking about platforms like OnlyFans and Patreon, where people share suggestive or even explicit photos and videos of themselves in exchange for a subscription fee.

While it may seem like a good way to earn money — and we’re not criticising the ones who do it full-time for a living — it may not be the go-to choice if you’re cautious about your professional image.

It’s important to consider the impact it could have on your personal brand, future opportunities, and personal life. Engaging in explicit content creation might tarnish your online image if discovered by peers, friends, or potential employers. It could lead to a negative perception that lasts far beyond your college years.

The legality of explicit content varies, and unknowingly crossing legal boundaries can lead to serious consequences. A study by the Cyber Civil Rights Initiative revealed that 71% of victims of non-consensual pornography faced professional consequences, such as difficulty finding employment.

Potential employers often scrutinise online presence, and if explicit content surfaces, it may affect your chances of securing a job in the future. It’s crucial to weigh the short-term gains against potential long-term repercussions before venturing into such online endeavours.

So, be cautious about your online ventures and ensure they align with your values and aspirations.

Ghostwriting

Choosing ghostwriting as a means to earn money online might seem like a convenient option for students, but it comes with its own set of drawbacks.

Relying on ghostwriting for academic assignments or other content can affect the development of your own skills and knowledge.

According to the International Centre for Academic Integrity, 68% of undergraduates admitted to engaging in some form of cheating, including using ghostwriters.

While you’re not the one paying for the ghostwriting services, you could be treated as an accomplice or for abetting the commission of this unethical practice. Beyond academic consequences, such practices can lead to a damaged personal and professional reputation. If discovered, it may result in severe academic penalties, including expulsion or failing grades.

It’s better to write for actual clients and get paid!

Get-rich-quick schemes

It is also important to be wary of get-rich-quick schemes and online scams.

The internet is filled with promises of making big bucks overnight, but more often than not, these are just traps to siphon money from unsuspecting individuals.

Avoid falling for schemes that require an initial investment or promise unrealistic returns. Reports indicate a 73% increase in online scams targeting students in the past year, so it’s crucial to be vigilant.

Stick to reputable platforms and opportunities, and remember that genuine success often comes from hard work and dedication rather than shortcuts that seem too good to be true.

Job scams

The new digital era, combined with one of the most challenging job markets in history, has given way to an alarming spike in job scams. Thesey range between fake job offers, phishing attempts, get-rich-quick schemes, and even dating scams.

LinkedIn is one example. With more than 11,000 job applications per minute, fraudsters have an ideal environment for creating a legitimate-looking job posting to collect personal information or money. They prey on those desperate for a job or side income, attempting to scam them out of their money or collect and sell their personal data.

Some LinkedIn “experts” also operate under false organisation pretexts, or impersonate existing companies. Some even fake their credentials just to build more credibility. So think again before you click “Apply” on one of these postings.

Other ways on how to earn money online for students

Aside from the three avenues we mentioned previously, here are some other ways on how to earn money online as a student.

1. Become an expert in your field

Becoming an expert in your field or a specific subject can significantly enhance your ability to earn money online as a student. 

If you excel in a particular subject, don’t hesitate to monetise your expertise. As the saying goes, “If you’re good at something, don’t do it for free.” 

There are various ways to become an expert, such as deepening your understanding through advanced courses, staying updated on industry trends, and actively engaging in practical applications of your knowledge. You can then convert your expertise into income by offering tutoring services on platforms like Chegg.

According to recent statistics, the online tutoring market has experienced substantial growth, with the global online tutoring market expected to grow by US$50 billion from 2025-2029, according to a report by TechNavio.

By joining platforms like Chegg, you not only contribute to the academic success of others but also earn money for your expertise. This helps you financially as a student and establishes a pathway for future career opportunities by showcasing your proficiency in a specific subject. 

Another bonus? You can add this experience to boost your CV.

2. Marketing and sales

Acquiring marketing and sales skills as a student can be a game-changer for your online earning potential. These are essential skills for traditional businesses to thrive both offline and in the online marketplace. 

Help small businesses market their goods and services, connect with customers, reply to queries, and use trending strategies to grow their audiences. Many individual business owners and startups are always in need of social-media-savvy digital natives to grow their brands.

Being good at marketing and sales equips you with the ability to effectively communicate, persuade and build relationships – qualities that are highly sought after by companies across various industries. Many companies, whether they operate in retail, technology, or services, value people who can help them sell more. 

Having these skills can also open doors to many job opportunities, from affiliate marketing to e-commerce management. This also helps build your portfolio — you’ll be set for a thriving career after graduation!

3. Freelancing

Freelancing platforms offer a promising avenue if you are seeking to earn money online without any upfront investment. The flexibility of freelancing allows you to manage your time effectively, balancing work with academic commitments.

According to a recent survey by Freelancers Union and Upwork, the freelance workforce in the US alone has grown to 59 million people, contributing US$1.2 trillion to the economy. Some people even freelance full-time, preferring to work at their own pace rather than sit in an office all day.

Websites like Upwork, Fiverr and Freelancer connect you with clients seeking various services, such as writing, graphic design or programming. If you speak more than one language, translation jobs pay well, too — up to US$60 an hour!

Signing up on these platforms is free, and you can create a profile showcasing your abilities to attract potential clients. The more projects you close, the more stacked your resume will be, boosting your employability after graduation. 

4. Subtitle writer 

Given the surge in online video consumption, this field has witnessed significant growth, with the global subtitling and captioning services market expected to reach US$500 million by 2028.

In an era where video content dominates various platforms, subtitles are crucial for accessibility and expanding audience reach. The process typically involves transcribing spoken words and synchronising them with the video, ensuring accurate and readable subtitles. Subtitle writers can charge per minute of video or per project.

You can find subtitle writing opportunities on freelancing websites, or look for opportunities with streaming platforms such as Netflix, Amazon Prime, Disney+, and more. Brands that want to become more inclusive will also look for those proficient in other languages to produce translated subtitles.

If you prefer to work with independent creators, there are always content channels, streamers, gamers and more looking for people to edit and subtitle their videos for YouTube, Instagram, TikTok, and more.

Disclaimer: This article was last updated on February 21, 2024.