WAYS TO MAKE AND SAVE MONEY AS A STUDENT PART 2 (HIGH SCHOOL AND COLLEGE) how to be your own boss as a teen
(this is part 2 to the first list I made on ways to make and save money as a student
I also just made a YouTube video on this topic so check that out here for more tips aside from this post: https://www.youtube.com/watch?v=SriRI_kY1pg&t=25s )
We all know that in order to be a successful student, you have to dedicate a lot of your time and energy to your studying (duh). On top of that, a lot of us have other commitments, such as sports or extracurricular activities. Pursuing and dedicating time to these things is actually just as important as pursuing good grades, especially when it comes to applying for universities and scholarships. And after all of these commitments, we realize that we want (or need) to do and have things that cost money.
I made a post on this just under a year ago and it’s my most popular post. I thought I would make an updated version with some more in depth tips and ideas that I’ve used.
HOW DO I MAKE MONEY WITHOUT GETTING A “REAL” JOB?
IF I HAVE A JOB ALREADY, HOW CAN I MAKE EXTRA MONEY ON THE SIDE?
Basically, if you want to earn money without getting a regular job (or on top of having a job) you can do one or more of these three things:
1) become an entrepreneur of sorts
2) find jobs that take place at your school or campus (since you spend most of your time there, why not try to make it your “job”)
3) establish habits that will allow you to save the money you’re earning
quick side note: I would recommend getting a job, even if it’s over the summer or for a short period of time. Working for other businesses and people has taught me so much. Although the job itself can be demanding and maybe not even worth the money you’re making, the experience is always worthwhile. It also taught me how expensive things are when you have to support yourself (for example, if you need/want something that’s $60, that’s about 4-6 hours of work you have to put in, depending on what your job wage is).
HOW DO I BECOME AN ENTREPRENEUR?
this is the definition of entrepreneur that google gives you: a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.
yes, it’s kind of a risk. what happens if you don’t have any clients for a while? what happens if you have more clients than you can handle? if you’re reading this right now, you’re probably willing to take the risk because a) you don’t have time to get a job (which demands a lot from you btw) or b) you have a job and that isn’t cutting it. below are some ideas for “businesses” that you can run yourself. (examples of businesses that are bolded are in high demand currently, from my experience and knowledge.)
if you’re patient, personable, good at teaching, and are willing to put yourself out there, use your talents to your advantage. you can teach kids, adults, or anyone in between, depending on what you prefer and cater to. below are some examples of teaching services you could provide:
- tutoring (I get more in depth with this in my YouTube video)
- coding/animation/web design
- software (i.e. imovie, adobe premier, microsoft word)
- design websites for people and businesses
- design/make animations for businesses
- open an etsy shop and make things
- revamp old furniture and sell it
- flip books on websites like ebay (what is book flipping?)
3) grow your social media (or someone else’s)
- old technology that can still be used
- host “summer camps” where you babysit kids, plan some games and activities to do with them, and charge per day or week instead of every hour. I did this when I was in eighth grade (yes, you heard me right) and I made $1000 for one week. (I also talk about this in my video more in depth)
small note about being an entrepreneur: you have to put yourself out there. the hardest part about getting business doing any of these things is gaining momentum and getting clients who will eventually tell other people about your services. before this happens, you have to shamelessly self-promote. I’m talking flyers around your neighbourhood, knocking on doors, posting on social media, and making yourself known. that’s the main “risk” I mentioned above, which is using your precious time to promote yourself.
HOW DO I MAKE MONEY AT SCHOOL/ON CAMPUS?
It’s harder to find gigs that pay money at school, but here’s the trick: you have to ask and show interest. Become friends with your counsellors and principals. Make it a priority to stop at bulletin boards and flyer hubs at your school that might be advertising jobs. below I’ve included some ways that I made money at school:
- score keeping: this may not be offered at every school, but at my high school students can get paid for scorekeeping sports games. it involves more than putting scores on a billboard, there’s also writing and stat-keeping involved. I got paid $15 per game, but again, I don’t know if other high schools do this. It never hurts to ask though!
- coaching: a lot of community programs and schools are in need of peer coaches for younger kids.
- refereeing: same as coaching, except you’re refereeing sports games.
- trade programs: in a lot of regions, certain jobs or trades are in high demand. in order to get young people interested in pursuing these jobs as careers, trade programs and companies are offering to pay students to volunteer or work in these areas over the summer. all they require is a certain amount of hours and written proof that you worked or volunteered. I had friends who got hired in a “trade” job such as roofing, horticulture, etc. for their summer job and got an extra $1000 on top of being paid their normal wage, just because of these career programs.
all of these job ideas are suggestions and might not be offered or needed where you go to school. the main point I want to get across is to talk to your counsellors and get involved in activities at your school.
- stop buying starbucks everyday! that $5 tea or coffee adds up (if you buy a coffee/tea every school day: 5 days x $5 = $25 a week being spent on drinks). learn how to make your own drinks that are the equivalent to the drinks you buy at starbucks, and you’ll be saving a lot of money.
- know which method of payment enables you to spend more money. if it helps to know what you’re spending, avoid using your debit card. for me, I hate having cash because I want to spend it wherever I go. If I bring my debit card, I make sure I only put the money I will need in my account, so I don’t overspend.
- try challenging yourself to save cash for a month. a popular challenge right now is the $5 challenge, where you save every $5 bill you get for a month up to one year.
- pack your lunches and snacks. avoid spending money at your school cafeteria/restaurants as much as you can. I will even plan my lunches and snacks every sunday for each week, so I don’t have any excuse to not make my lunch the night before.
- shop and eat out at places that have customer rewards systems/credit. if you’re gonna spend money, you might as well save some because of it.
- become a couponer cause why not.
What are some ways you make or save your money?