Here’s the bad news: Tuition is just one part of the financial costs of college. Even after you square away those academic expenses, you’ll still want to have extra money readily available. From everyday expenses like off-campus meals to big-ticket items like study abroad travel, allowing your bank account to gather dust can be a huge pain and source of stress.
In light of that stress, many -- way too many -- students make one really bad money decision. They open up a credit card and start racking up debt, and that debt plagues them well past graduation. In fact, a study conducted by my organization, 1,000 Dreams Fund, found that 79% of female millennial cardholders are in credit card debt.
But before you descend into panic mode, here’s the good news: It’s easier than ever to make money on the side, even as a full-time student. With the right time management, you (honestly!) can balance school, social life and raking in a bit of income. Here are five doable and worthwhile side hustles for college students:
- On-campus jobs: These can fill up quickly, so start looking into options now. Libraries, bookstores, administrative offices, restaurants -- just about every on-campus hub is staffed with students. Most universities have a web portal where you can find openings and apply. If you’re a night owl, there are often school buildings that need staff late at night, like 24-hour study centers.
- Photography: Do you have decent camera skills -- and, of course, a camera? Many students are looking for inexpensive photographers for everything from LinkedIn profile photos to graduation shots. Take some sample shots of friends to create a quick portfolio, and be sure to charge fairly based on experience. (In other words, if you aren't near pro level, don't charge at pro level.)
- Tutoring: Even as a freshman, you may be able to sign up as a tutor through your school -- and if not, you can do so on your own. If you're a strong teacher in a particularly tricky subject, students will be clamoring to work with you one-on-one. Advertising on social media is everyone’s go-to, but an in-person approach can be more trustworthy: Ask professors if they’d be willing to recommend you to struggling students.
- Amateur trainer: Nobody wants to gain the freshman 15, and if you can help people avoid it, they'll be thrilled. You should not market yourself as a professional trainer, but if you have major gym prowess and are great at motivating others, you can be a real asset to others. Your university’s gym may even employ students for workout classes and other training programs.
- Sell clothes and accessories you'd otherwise leave back at home. While there's no need to get rid of your whole closet, packing for college will probably reveal that your wardrobe is overflowing with items you no longer have any use for. Apps like Poshmark allow you to easily sell off clothes, bags and jewelry to people across the country.
The earlier you begin researching your options, the better opportunities you’ll have to create a sustainable and potentially lucrative side hustle. Think about your strengths and what you have to offer -- and start monetizing. An entrepreneurial spirit will take you far!