Profitable Side Hustles for College Students

Even with student loans, scholarship money and some allowance from parents, the total amount of money needed to gratify your college needs and wants can never be enough. This is why it’s so important that while in college, you come up with ways that will enable you earn extra cash so as to make your life a little less financially stressful. Though the most obvious thing to do is to get a part-time job, there exist other options that can help you earn some good money. In this regard, here are some profitable side hustles for college students that you can embrace.

1. Open an Online Shop: Do you have things in your room/house that you barely ever use? Or are you creative and capable of designing beautiful crafts that are everyone’s envy? Or maybe there’re things in your surrounding that people from far away would kill to possess. If this is the case, then, you should consider opening an online shop, like on Amazon, Ebay, Etsy or Bonanza and start selling these goods/products at a profit.

2. Become a Tour Guide: If you are well acquainted with your region, you could start a small tour guide company that’s aimed towards showing people around. By you offering quality services and charging reasonable fees, you’ll be surprised at just how fast this small company can grow.

3. Do People’s Taxes: Since not many people know the right way of doing their taxes, you can take advantage of this, especially during the tax season, and help them do their taxes. To attract more people, only charge them a small percentage of their total return.

4. Become a Medical Study Guinea Pig: Volunteering and participating in medical studies can give you a chance to earn as much as $1,000 in a single night. The more you’re willing to let doctors experiment on you the higher your pay. You can find where sign-up for a few at the government sponsored ClinicalTrials.gov website.

5. Become a Party Planner: If you are good at planning birthday, wedding or student parties, you should consider put your skills into use. Alternatively, you could become a party promoter – assuming that you possess good marketing skills.

6. Become a TV/Movie Extra: With so many TV and film productions being shot, why not sign up to become an extra? By simply showing up at the location and walking about or standing, you’ll get paid a couple of hundred dollars.

7. Baby Sit: If you are good with kids, baby sitting every once in a while can help you make some really good money. At times, you can make up to $100 in a single night. You may also offer to babysit and tutor at the same time.

8. Tutoring: There being loads of students, especially ones in high school that are in need of extra tuition, you can talk to their parents and ask them to let you tutor them.

9. Sub-let your Apartment: If you have an extra room in your apartment, rent it out. The same should be the case when you are away especially during the holidays.

10. Become a Model: Do you consider yourself good looking enough to appear on advertisements or on the runway? If yes, then it’s time you became a model!

The key to making these hustles work for you is to take them seriously and, adopting a couple of them rather than being okay with just one. And of course, one of the most traditional side hustle activities in college would be simply to apply for scholarships.

Married Life: 5 Things to Discuss after the Wedding

After the party is over and the thank you notes have been sent out, it is time to settle into your day-to-day life with your husband or wife. However, there are at least five important issues that you should discuss with each other in order to plan a better future.

  1. Discuss your goals. You may have done this prior to      your marriage; however, sit down with your spouse, share your plans for      the future, and don’t forget to write everything down. For example, do you      want children? Do you want to purchase a new home? Once you have      everything written down, you are ready for the next step.
  2. Plan how you are going to get      there. If you      know what you want, but don’t have a plan detailing how you are going to      get it, you have little more than a pipe dream. Make your goals specific,      and set a realistic timeline. For example, instead of saying that you want      to purchase a house someday, say that you want you buy a house three years      from now. While it may be difficult to plan for tomorrow in today’s money,      you should write down the percentage of your income that would be in your      comfort zone as far as a mortgage payment is concerned.
  3. Set up a will and power of      attorney.       You may be young and healthy now, but you never know what the future may      hold. No one likes to think about the prospect of illness or death;      unfortunately, either could happen when you least expect. Unless you would      rather have the state determine the manner in which your assets are      distributed, your best bet is to consult an attorney, who will be able to      best advise you.
  4. Discuss how you will handle your      money. Will you      combine funds, or will you keep separate accounts? Who will be responsible      for certain bills? What amount will come out of each paycheck in order to      cover monthly expenses? It is best to discuss these things early on in order to avoid any misunderstandings.
  5. Protect your income. This is last in the list, but it      is certainly not least. Life insurance is an integral part of any plan for      the future. If you should pass unexpectedly, you would want to know that      your husband or wife would be protected regarding expenses involved with      funeral and burial. Consult an insurance professional who will be able to      advise you as to what policy would suit you best and start comparing life insurance quotes to see which policy will best fit your budget.

Of course, your circumstances may differ; however, these five items are a good start for those newly married and beginning their lives together.

 

Some Tips To Change Your Financial Situation

It’s not a secret that lots of consumers today have financial problems. Most of us aren’t satisfied with their monetary life and complain that they should make debts because living is too expensive. Some people have small financial problems while others are deeply in debt and already don’t believe that it’s possible to change something. Even if your financial life is just like disaster you can always change it if you will make some efforts. Provide these simple changes into your life and you will notice the way with time your financial situation will change into the better.

Start Budgeting

Analyze your spending and your income. Do you spend more than you earn? Be honest with yourself. To understand your finances write down everything you buy every day. It will help to see where your money goes. Focus on buying necessary things and distinguish your needs from your wants. If you don’t have a budget then you can’t control your money and monetary side of your life is very chaotic. You should know how much money you need to buy essential goods, to pay bills and to cover additional expenses. So make a spending plan and use your earnings wisely.

Use Cash

We take using credit cards as something usual and don’t even pay attention that using plastic gets us in debt. Some people understand it only when there comes a day to carry a credit card balance. Having only one secured low interest credit card is not bad. But if you have several different cards and crazy about earning rewards points then you should stop it. Try to cover your expenses with your own funds. It will help you to understand the real value of things you buy. Paying with plastic anesthetizes the pain of taking out hard earned cash out of your wallet and that’s why lots of people overspend when they use credit cards.

Get Ready For Emergencies

If you don’t practice financial planning then most likely that from time to time you face unexpected expenses. But how to cover them if you are short on cash? Probably the first thought which appears on your mind is to borrow money. If you borrow cash or use cash advances that NorthenLoans provides online in Canada then you make a financial commitment and you’ll have to pay down the debt. Try to save at least $20 every week for unexpected financial needs. If you will build an emergency fund then there will be no need to borrow from someone or to take out a loan. Save money to feel confident in your future. Think long term and make regular investments in your financial well-being.

Market your small business with free social media

The current financial climate has shown how difficult it is for businesses to survive. As the owner of a small company you will be faced with different problems to those on the high street, but the failure and collapse in recent years of the likes of Woolworths and Jessops – not to mention HMV and Blockbuster which recently went into administration – proves that things are tough out there.

If you are running a small shop then you could be fearful that last year’s double dip recession might bite hard and you will be left looking for bankruptcy advice from a financial expert such as Debt Free Direct.

However, there are a number of savvy steps that businesses can take in order to rise above the financial pressures of modern-day Britain and help their organisation to survive.

At the end of the day consumers still have a requirement for goods – whether it be food, entertainment or practical items around the home. It is up to you to make sure that yours is the company that they turn to, making yourself stand out above the competition.

A major part of this is down to advertising. Large companies can rely on television adverts or multi-channel marketing campaigns where millions of pounds are given to an agency. You will need to think smarter than this given your smaller budget.

Social media is the perfect platform for this – mainly because it is free. Websites like Facebook and Twitter are growing in popularity all of the time and can be used to grow a fanbase, pass on offers to followers and reply to consumers in the guise of customer service.

Let’s take Twitter. This social network is ideal for small businesses to launch on. It is 2013’s version of word of mouth, and you can quickly spread your message as followers re-tweet your messages.
By using hashtags you can join in or start off the conversation, which should see your number of followers grow all the time.

If you have a website, or a free blog set up, then links to your latest offers can be tweeted out, while you can also pass comment on other subjects that affect your industry to show that you are an expert in your field.

As a customer service tool Twitter is excellent. You should encourage consumers to engage with you and you can deal with any issues that arise safe in the knowledge that you are doing so in a personalized tone, rather than leaving it to someone else over a faceless email or telephone conversation.

Facebook is another excellent free marketing tool for small to medium-sized enterprises to take advantage of. You can set up your own page and easily send out either group messages or wall posts to all of the people that ‘like’ you.

It is an excellent way to promote offers, whereby people could receive a discount or freebie if they mention the social media deal – which should also ensure that other people are told about this great service too.
When compared with other costly methods of marketing social media really is spot on, especially at a time when Brits are more connected than ever before thanks to tablet computers and smartphones. Activity on these websites can also be backed up by email marketing – another free tool which small organisations can take advantage of.

You could look at leafleting through people’s door in order to reach a more localised audience, however you have to pay expensive printing and material fees, while you need to think about who is going to brave the cold, wet and snow to post these through letterboxes.

Furthermore, you do not know who lives in these houses. If your products are aimed at teenagers, then your leaflets might well go to waste if none live in the vicinity.

Businesses should explore every option at the moment. Preparation, research and marketing are all vital tools which will give an organisation the best chance of survival, steering yourself away from potential bankruptcy if the worst case scenario was to happen.

Taking advantage of free services is one of the best ways of doing this, especially when the results could be spectacular. It might take a little bit more work on your part, but gives your business the best chance of growth in the current climate.

Don’t Get Bit by Snakes

snake-bite

I know what you’re thinking. What are snakes doing on a Christian Finance blog? Well, there’s a saying that says that if you play with snakes, you’ll get bit. Dave Ramsey even uses it to describe credit cards.

Well, I’ve got a great “bit by snakes” story for you. As many of you know, I’m on schedule to be completely debt free by next month. I’m still on schedule, but I hit a setback a couple days ago.

As many of you also know, I’ve been doing “credit card arbitrage” where I use 0% balance transfers and earn interest on the cash while using the cash to make payments. I don’t do this anymore, but I used a 0% balance transfer to pay off a student loan about a year ago and I made payments to a savings account to have the amount in a year so by the time the 0% was due, I would have the cash to pay it off. People can do the same thing with cheap home loans, especially when the rates are this low!

Before last week, I never had a late payment in my life. But I played with snakes and got bit! When I set my online bill payment for the credit card, I looked at the next statement date instead of the payment due date and so the payment was late. When I realized what I’d done, it was too late.

I checked my credit card account online today and almost passed out! My account “went into default” with one late payment and my interest rate shot up to 25.99% even though it was still under the one year 0% special. They also charged me a $39.00 late fee and a finance charge of $89.25!

This really wasn’t a surprise to me since credit card companies can do practically anything they want because their agreements (that you signed when you got the credit card) allow them to. So I decided to give them a call. Sometimes you can get a lot accomplished with one phone call.

To make a long story short, I got the CSR (customer service rep) to waive the finance charges and late fee and also reduce the interest rate from 25.99%! I actually was amazed at how easy it was. All I had to do was ask a few questions about the charges and then simply ask if they could be waived. It took maybe five minutes!

I’m glad I got those fees waived, but I’m still going to pay off the credit card tomorrow. This was too close for comfort and I don’t feel comfortable carrying a balance when I have the cash to pay it off. I will never use credit cards again. Lesson learned. I hope you will learn from my experience. God bless!

Post Updated November 12, 2012