Three Truths about your Financial Life in College

Making money online when looking for financial balance

Truth #1 Most students are broke

You see it in all college-movies, you hear it among your friends. Very few of us actually have rich parents that can support us no matter what. Getting an extra job might be tough because you lack time or experience. On the other hand, you might be too busy making new friends to find resources or interest in a job. Unless you somehow work from home in your spare hours, your budget is probably tight. Don’t get too desperate about it, it’s a stage and being broke is part of its beauty.

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Truth #2 You can do something about it

Yes, you need to acknowledge that it is a tough period and your current financial habits might shape your future. Depending on how serious your need for income is, there are various things you can do. Finding a side job is one of the most popular, but consider if it is something for you. It might as well take up all your energy, leave you with not enough time for your studies or socializing.

Making money online is like the next best thing, since you can decide when to work and how many hours you can put. There are many ways you can make money online, from renting your bike, selling your clothes, to offering freelancing services. If you like writing for example, you can make money online by writing articles or reviews for different companies. If you like crafting, you may sell your creations on online stores like Etsy. If you like sharing your opinion, a popular way of making money online is taking paid surveys, where you get rewarded for your opinion in cash or vouchers.

Furthermore, learn how to stick to a budget and live frugally. You don’t need to spend your salary on crazy nights out to compensate for the time you were away from your friends working. On the same lines, making money online just offers you some extra income on the side, not an excuse to spend more. Establish a saving up routine, your future self will be thankful!

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Truth #3 You can always use the extra money you make online

Exploring different ways of making money online now, when you have more time on your hands, is very useful. Not only you have more time to research, fail and start again, but you can also invest in something that will help you out in the future.

For example, think of how much time and energy running a blog requires. Especially in the beginning, when you need to slowly build up a community of followers. If you start now, in a couple of years you could easily be making money online out of it, with less effort. If you’re already known in your industry, the blog will require less resources in the future, so get started now!

This applies for most of the opportunities to make money online. Establishing a name and a web presence is very helpful. Once you have a good network, you can use it for many purposes, whether you change your industry, need mentoring in your career or just want to continue making money online out of it.