Summary

The article outlines seven creative methods for college students to earn money through passive and active income streams, which can also contribute to their career development.

Abstract

The article "7 Creative Ways Broke College Students Can Make Money" provides insights into how students can alleviate financial stress by generating income without significantly impacting their studies. It emphasizes the importance of passive income strategies, such as using the Brave Browser for ad revenue, earning Bitcoin through Shakepay, investing in dividend-paying stocks, and mining Helium (HNT) cryptocurrency. Additionally, it discusses active income opportunities like tutoring, participating in work-learn programs, and enrolling in co-op programs that offer valuable work experience and can enhance a student's resume. The author, a long-term student, shares personal experiences and the benefits of these methods, including building savings and career prospects while managing the demands of academic life.

Opinions

The author believes that passive income strategies are particularly beneficial for students due to their busy schedules and the need for additional income without extra workload.
Viewing ads on the Brave Browser is considered an easy way to earn small amounts of money that can accumulate over time.
The author is enthusiastic about the potential of Bitcoin faucets like Shakepay, highlighting the significant amount of Bitcoin they have accrued through consistent daily claims.
Investing in dividend-paying stocks is presented as a viable option for students due to the availability of commission-free trading, though the author acknowledges the inherent risks of stock market investments.
Mining Helium (HNT) is suggested as a cryptocurrency mining method with a relatively quick return on investment, despite the initial upfront cost and risks involved.
Tutoring is highly recommended for students with expertise in a subject, as it offers higher pay rates and can demonstrate valuable skills to future employers.
Work-learn programs and co-op opportunities are seen as excellent ways to gain relevant work experience, enhance a student's resume, and potentially graduate with little to no debt.
The author advises readers to conduct their own research before making investments or using new financial products, emphasizing that the article is informational and not financial advice.

Student Life | Money | Career

7 Creative Ways Broke College Students Can Make Money

Build savings and your career through passive and active income.

Students have a lot going on. Money makes things even more stressful. Photo by Brooke Cagle on Unsplash

Paying for tuition, student fees, rent, groceries, buying textbooks, dare I include grabbing a coffee on your way to class? Costs for students are rising and debt is terrifying.

I’ve been a student for a long time so I know the struggle. That’s why I want to tell you about the ways I’ve been able to make money through passive and active income as a student. These methods eased my financial burden and helped build my career.

Easy Passive Income

Passive income is all the rage these days, and I have some thoughts about why. Finding new ways to make money feels essential today as prices rise and wages stagnate.

Our Obsession With Side Hustles & Passive Income Signals a Deep Social Problem

It’s a mess and I’m a hypocrite.

medium.com

Add on top of this, as a student, you’re busy! Attending classes, studying, working on assignments — your time is valuable. This makes finding ways to make money without adding any extra burden so important.

But let’s face it. Most “passive income” strategies that are peddled actually require a ton of work. The following are actually easy.

Brave Browser

The Brave Browser pays you for viewing ads. You’ll get paid every month in Basic Attention Tokens (BAT), a cryptocurrency, based on the number of ads you view. As a student, you’re going to be using your computer a lot. Why not make a few bucks while you’re at it? I’ve averaged between $5-$10 per month. It may not be much, but a little every day adds up. I made almost $400 in a year by using Brave. That’ll get you a couple of textbooks!

How I Made $391.86 in One Year by Browsing the Internet

No work involved and it’s the easiest money I’ve ever made.

medium.com

Shakepay or Other Bitcoin Faucets

Shakepay is a Canadian cryptocurrency exchange that pays you Bitcoin every day that you log in and shake your phone, provided that you sign up using a referral link. At Bitcoin’s current price (around $51,000USD), I’m making about $.50 cents worth of Bitcoin a day (1,000 Satoshis). I’ve been shaking my phone for over 425 days and the amount of Bitcoin that I’ve made has grown to be worth over $700 (0.01362 BTC to be exact). That takes a bite out of tuition!

I Shook My Phone and Made $700 of Free Bitcoin

All it takes is a bit of dedication.

medium.com

Shakepay is an example of a Bitcoin Faucet. Something that pays out small amounts of Bitcoin at a time. If Shakepay isn’t available where you are, there may be other similar opportunities.

Dividend-Paying Stocks

In the past, this wasn’t an option for most students due to the commissions involved in buying stocks. But with the democratization of finance, many brokerages offer commission-free trading. This means that it’s possible to invest a little bit at a time. Buy a share here, buy a share there, and it will add up.

I was able to put a little bit of my wages at a time from a part-time job into a high dividend-paying stock. Each share pays 10 cents per month and with the number of shares I own I now get paid $20 a month. That covers a few cups of coffee!

Of course, investments come with a lot of risks. The value of my shares could be demolished in a market downturn.

Helium (HNT) Mining

This method requires the most money upfront and the most risk. I spent $500 on a cryptocurrency miner that mines Helium (HNT). Every day, I earn a few dollars worth of HNT. Depending on location, it’s currently possible to make a lot more, but I’m just happy to be here.

As far as crypto mining goes, this seems to be one of the cheapest methods with one of the quickest returns on investment. My miner has been up and running for under three weeks and I’ve already made $71.15 worth of HNT. If I let it run over the course of a four-year degree, who knows how much debt it could clear off?

Career Building Active Income

I worked many different jobs at my university during my undergraduate degree. Most of them paid more than my minimum wage job as a cashier which was a breath of fresh air.

Working while you study can be a hard decision to make when you’re taking a full course load. But it can be a smart choice for your career. Demonstrating that you’re a hard worker with relevant experience helps a ton when applying for a job after you graduate.

Tutoring

If you have a decent grasp on a difficult subject, you’re in demand!

Tutoring has been my highest-performing way to make money as a student. I’m able to charge much higher than minimum wage (many times higher, in fact). This means that I can work fewer hours and spend more time studying or pursuing other activities.

There are many ways to tutor as a student. Most universities have peer tutoring programs, and you can also tutor privately. This takes some self-promotion, but you can also charge more. Also, centers for accessibility services often need tutors to help students with learning difficulties.

Listing tutoring on your resume shows employers that you can become an expert on a topic quickly and lead others. These are valuable qualities. It can also demonstrate entrepreneurship. You’ll pick up sought-after skills, such as interpersonal communication, marketing, and professionalism.

Work-Learns

Most universities have programs for students to work on campus in interesting jobs. At the school I attended, these were called Work-Learns. They included a variety of opportunities, from paid research assistantships to producing radio. There’s something for everyone.

These experiences look great on a resume as they’re often related to the fields students are pursuing. When I applied to graduate school, having a paid research assistantship and being a part of a peer mentoring program helped get me in the door.

Co-op Programs

Some undergraduate programs offer the opportunity to get well-paid, real-world work experience. These co-op programs are set up so that after a few semesters of school, you’re able to apply your knowledge. Rinse and repeat a couple of times and you’re done with your degree with a robust resume that employers will drool over. This can also be a way to avoid or mitigate student debt.

One of my good friends studied business through a co-op program. It took an extra two years to graduate, but he was quickly hired by one of the world’s leading consulting firms when he finished his degree. Oh yeah, and he made it through his post-secondary education with no student loans!

I haven’t spent a cent of what I’ve earned using many of the passive income methods. I use the active income methods to pay the bills and invest in passive income strategies. Then, I let the passive income roll in and grow over time. As a student, it feels good to be able to see some savings growing for once.

There are so many interesting revenue sources available to students that pay well. All you have to do is look! What unique ways of making money have you found as a student?

I am not a financial advisor and this article should not be taken as financial advice, a recommendation, or an endorsement. It is meant to be informational in nature only. Always do your own research before making any investments or using new products.