Passive Income Ideas For College Students Faqs
What is passive income?
Passive income is money made that requires no effort to maintain. While this is true, the majority of passive income streams do need effort initially to set things up. With an eBook for example, you have to write the book first, but once its written, you can sell it over and over on a platform like Amazon, sometimes for years to come. This is where your eBook sales become passive income.
Can passive income make you rich?
Setting up multiple passive income streams can make you very wealthy. Many people I know earn $10k+ per month from affiliate marketing and eBook sales on their social media. The thing to remember is: this doesnt happen overnight. But it is possible.
How can I make passive income with no money?
You can make passive income with no money by putting in the time. Start one of the side hustles mentioned above, which are easy and free for anyone to make money from. If you have some money to spend, you can make passive income by investing in the stock market, real estate or a business.
What is the best form of passive income?
There are many ways to earn passive income for college students. The best way would be the one you enjoy and are actually good at. You wont know this until you try a few out. Affiliate marketing is a popular beginner hustle because it has a low barrier to entry and is free to start on social media. Choose one passive income stream and when you start making money you can try out another.
Sell Your Photos Online
Leave it to todays visual-heavy generation to think of creative ways to make money from photos. Today, if you know your way around a camera, you can earn a few bucks from selling your photographs to stock photo websites on the Internet.
Listing your images on websites like Shutterstock or will allow you to earn money while you sleep. Of course, if you intend to make money this way, youll need to understand photography or post-processing tools like Photoshop.
Though theres a lot of competition in this line of work, youll find earning this way easier as opposed to traditional commercial photography. With traditional photography, youll have to compete with professionals with impressive portfolios, and youll only earn after you do your work.
Stock photo websites will list your images on the web for an indefinite period of time. Anyone subscribed to the stock photo website will have the opportunity to buy your photos, so you can earn money even without lifting a finger.
If your photographs are particularly brilliant, you wont find it difficult to sell them. The trick to succeeding in this practice is to find your niche and brush up your post-processing skills.
The most popular types of photos include landscape and business photography.
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Rent Out Your Bike Or Car
If your car or bike sits idle, why not make money on it? Cars are tough to come by on campus since most students come without their cars. You can rent your car out for a few hours or a day and make a truly passive income. Just make sure you and the renters have proper insurance coverage should something happen.
If you dont have a car but have a bike, it could be in just as high of demand as a car. You wont make as much money renting out your bike as you would a car, but even $10 a day adds up. If you rent your bike out several times a week, you could make $30 $50 a week doing nothing but helping someone else get around town without using Uber.
Buy An S& p 500 Index Fund
One of the easiest ways for an investor to get started is to buy an index fund, and many of the most popular index funds are based on the Standard & Poors 500 index of large American companies. An index fund holds shares of all the stocks in the index, hundreds in the case of the S& P 500. By holding so many stocks across a wide variety of industries, the fund is highly diversified and typically offers less-volatile returns than owning individual stocks.
Another advantage of an index fund is that you dont have to know a lot to get started. Buying an S& P 500 index fund is like buying the market, and youll get the market return. Its a great way to learn how investing works, and its the strategy recommended for most investors by legendary investor and billionaire Warren Buffett.
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Launch An Online Course
Are you a good teacher? Do you have an area of expertise that you teach or help others in already? You could create an online course around that topic and sell it. Sites like Udemy allow anyone to create an online course and then sell it through their platform. There are courses for everything, so don’t worry if you think that your topic is too obscure.
Becoming A Ride Share Driver
Driving for apps like Uber or Lyft can be an excellent way for college students to make some extra money in their free time. While the pay isn’t remarkable, it is comparable if not better than many entry-level jobs. If you work nights and weekends you can make even more money.
Related: Tips for Uber Drivers to Make More Money
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Rent Out Your Bedroom Or Home
College students often live in shared accommodation as they can share rent this way. So, if you have a spare room in your apartment or house, you can rent it out to someone else to make some extra bucks.
To find a housemate, you can share information on your college bulletin board or post on Facebook. Nowadays, many online websites and apps are also available to find suitable renters.
If you dont want someone living with you all the time, you can hire occasional renters. How?
Using Airbnb, you can rent out your bedroom or the entire house for a weekend or a couple of days. This way, you dont have to stick with a renter until a lease is over.
Suppose you are visiting your parents for the weekend instead of leaving your house empty, rent it out on Airbnb. This way, while you chill at your parents place, your house is making you money.
Passive Income Ideas For School And College Students In 2021
Passive income ideas can help you earn a significant amount every month to face the upheaval caused by COVID-19 and other economic changes.
Passive income ideas can be life-changing and give the right career direction.
Most school and college students are looking for passive income ideas to earn money side by side with their studies to stay financially independent.
As the COVID-19 has affected the economy of countries a lot, therefore, there are fewer chances to get decent money-making opportunities compared to earlier.
Now, many professionals are working at less pay, and most professionals face downside in their careers.
However, the young generation, especially the college, school students and recently passed out candidates. They are also looking for legit and good ways to generate good income to meet their financial requirements.
So, if you also want to know about the legit and growth-oriented best passive income ideas, 2021, then stay connected with this post.
Because here, I have come up with the ten best ways to make money online.
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Look For Lost Golf Balls
This may sound silly, but looking for used golf balls is a legitimate side job that may help you make a lot of money as a college student. Many country clubs and golf courses will let you search their greens for golf balls.
They usually want you to sell the balls back to them, although many are unconcerned about what you do with them. I collected 100 or so golf balls for fun in a pond back in college. I thought I would eventually use them but eventually sold on Ebay.
Each golf ball may be sold for $0.10 to $0.20 on average. These numbers may not appear to be significant, yet they add up rapidly. Theres a video online of a man who made $15 million as a golf ball diver.
Passive Income Tips To Consider
When it comes to passive income, time is everything. The whole point of passive income is to make money with the least effort possible. That said, dont fall for any passive income ideas that promise quick and huge amounts of return. In most cases, passive income stems from a lot of upfront work.
Making YouTube videos, for instance, requires months and months of prior content creation. The same is said for writing a book or eBook. Investments require hours of research beforehand to minimize the risk of monetary loss.
Here are some passive income tips to consider to save both your time and effort:
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Top Ways To Make Money In College
Its also possible to work off-campus and potentially earn more money than working on-campus. On-campus jobs dont always pay the highest because they are convenient and have more applicants.
After all, who doesnt want to walk across three minutes across the student commons to work for a few hours in the computer lab?
To be the big fish in the little pond, look for off-campus opportunities that might require a little more hustle, but can have a more flexible work schedule and a higher income potential.
Create An Affiliate Website
If you’ve ever Googled something like best pleated pants for men, you’ve probably come across one or two affiliate websites. These websites focus on extremely specific Google searches in hopes of ranking for these terms and making money off of them.
These niche affiliate websites will then promote their affiliate links within the post and earn a commission anytime someone clicks through their links and makes a purchase.
You might think these websites only make a few bucks a month, but that’s not true. Some affiliate websites make $10,000+ per month. By finding a good niche with high-value terms you can make more money and build your passive income portfolio.
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Become A Library Assistant
Library assistant is one of the most coveted jobs on campus. Its not a particularly easy job, but it is extremely laid back and quiet. Youll spend most of your time doing organizational and clerical work and helping students find resources in the library. Unlike a job in campus security , you wont deal with a lot of conflict or angry people.
This is a popular job with a limited number of openings, and there is usually a competitive application process. Be sure to emphasize if you have any other relevant experience. Because this is an on-campus job, point out if you have an excellent academic record. That kind of thing can make a difference when youre applying to a campus library.
Become A Personal Grocery Shopper
If youre one of the few college students to own a car, your friends might constantly ask you if you can go to the store to buy food for them and theyll pay you back.
Buying groceries, snacks, and beverages with the ibotta app lets you get cash back on many items that college students want without having to go to the cafeteria.
Activate your first ibotta offer and get a $10 cash bonus. You can request payment via PayPal or gift card once your balance reaches $20.
Related:How to Make Money as a Personal Grocery Shopper
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Sell Digital Files On Etsy
Ive been into home décor lately and I had to turn to Etsy to find exactly what I wanted. I ended up purchasing digital files of the artwork I wanted printed out! The seller had made a bunch of wall art, digitized, and listed it on Etsy for instant download. There are other popular digital files on Etsy as well such as monthly planners. If youre into graphic design this could be an amazing passive income idea for you.
Become A Grandkid On Demand
The Papa app connects college students with senior citizens who need a little extra help in their day-to-day activities. Along the way, it provides companionship and a steady side gig.
The two loneliest generations are older adults and college-age individuals, Founder and CEO Andrew Parker told us. By connecting these distinct generations, we are able to break down barriers and form real relationships.
These part-time positions are only available to college students. Beyond that, no specific experience is required, but students studying nursing, medicine or psychology get bonus points. Other requirements for Papa Pals include a reliable four-door car and appropriate car insurance. All applicants must be able to pass a thorough background check, and the approval process takes between two and 10 business days.
Papa Pals make between $11 and $12 an hour, and additional compensation is provided for gas and tolls. The app is active in select cities in Florida, Illinois, Michigan, Missouri, Pennsylvania and Tennessee.
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Deliver Food Around Your College Campus With Doordash
If youre free nights and weekends, you can earn extra money delivering food for fellow citizens around your city. Its easy to deliver food with DoorDash if you have a car, its a perfect way to make a good amount of extra cash whenever its convenient for you.
A lot of people do this full time, so you can imagine thats it definitely possible to start this as a side hustle and make extra money by delivering food with DoorDash and be on your own schedule.
Consider Walking Dogs During Free Time
If you’re in college, walking dogs can be a great way to make money during your free time. While you may not see walking dogs as completely passive if you have a dog of your own it could be!
There are several dog walking apps like Rover that you can register and start walking dogs today.
How much money can you make walking dogs?
It depends on your region and the length of your walk. It’s common to earn anywhere from $20 to $35 for each walk.
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Sell Your Stuff On Amazon
This one is a simple side hustle for students. Do you have old textbooks from college lying around?
You should consider trading them in on the page.
In addition to textbooks, you can probably trade in old books, DVDs, cell phones, or other electronics you may have lying around.
You would be surprised how much you can get for your unwanted items. Just visit the trade-in page and enter your item and see how money you can make as a college student.
Refer Friends To Great Products You Already Use
Companies like Rakuten.com have existing referral programs that pay out cash for every friend you register. So if you have many friends or social media followers, this can be a low effort way to make money.
All you have to do is set up an account by clicking the join now tab at the homepage’s top. Once the account is up, go to your account settings and click where it says refer and earn to get a link to send your friends.
To find other programs like this, it’s super simple. Nearly any company that delivers food or other products has similar programs.
Pro: Many people buy many things, and most people would like to save money if they can.
Con: You don’t want to be known as the let me sign you up with my referral code guy. There’s a fine line between passive income and alienating the people in your life.
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Be A Cashier At The School Museum Or Campus Gift Shop
Many historical colleges also have a school museum that tells about the history of the college and might include special collections donated by alumni for current students and visitors to enjoy.
Included in every museum or campus is a gift shop and a cash register manned by a student cashier.
Being a cashier means you might not have as much free time to study compared to being a computer lab or library assistant.
However, being able to remain on-campus might mean you can walk to work and save on driving expenses.