Ask any in-debt college student out there if they want to make a little extra cash so they can chip into paying for classes or splurge on trips with friends, they’ll probably say yes.
If you’re a college student, you’re going to want to make some passive income.
You can earn passive income selling products on social media, renting your home / car, teaching online, taking online surveys, taking advantage of cash back deals, and investing in a stock market that is more fluid and accessible than at any point in human history.
What is passive income?
I know a guy who bought some land, leased it to a restaurant for 30 years, and gets a rent check every month while he does nothing.
That’s passive income.
I know another guy who bought an apartment complex, rented the apartments to different tenants, and gets rent checks every month while he does nothing.
That’s also passive income.
Get my drift?
Passive income – not to be confused with active income or portfolio income – is earnings derived from a rental property, limited partnership, or other enterprise in which a person is not actively involved.
It’s brilliant and worthwhile. While it’s very attractive for long-term earners, it’s more importantly never been easier to have passive income stream your way.
You don’t have to be a real estate tycoon to generate some passive income for yourself.
You just have to think digital.
Ways to earn
Social Media
Social media was once a place to stay in touch with friends and family who lived elsewhere. It still is that magical place, but its appetite for monetization grew ravenous in recent years. Thus, its golden child Instagram shouldered the responsibility of making people money while they socialize. For the grounded individual, Instagram can be a two way street worth round tripping.
For the Instagrammer keen on selling products to their followers, the formula is basic in the best possible way.
Sign up for a business account on Instagram, and upload high-resolution photos of your products often. Insert proper hashtags into each caption, and you’ll gain a following in little to no time People come to Instagram to be inspired and discover things they care about, and that includes content from brands and businesses. 60% of people say they discover new products on Instagram. 200 Million+ Instagrammers visit at least one Business Profile daily. 1/3 of the most viewed stories are from businesses.
Renting
Going on vacation? Rent your home to a friendly, vetted individual. Use AirBnb to do so. Airbnb is an online marketplace which lets people rent out their properties or spare rooms to guests. Airbnb takes 3% commission of every booking from hosts, and between 6% and 12% from guests.
There’s plenty of criteria to list for/search a property: from a shared room to an entire house, to having a swimming pool to having a washing machine. There are photos of the property, and the hosts/guests, with full map listing.
I can’t stress the importance of providing flattering, high-resolution images of your listed property enough.
Class material
Teach people lessons on just about anything these days. People are thirstier than ever for knowledge.
Many turn to teaching on YouTube.
LearnWorlds is a top-of-the-line online course platform that provides a online environment packaged with powerful marketing tools to help you thrive in course selling. It provides you everything you need to teach online. You can:
And much more! If you want to give it a try for free, here is the link to it (they actually have a 30-day trial, hence this is worth trying out!).
You’ll sleep like a baby knowing people around the globe enrich themselves with your knowledge while your bank account looks prettier by the second.
Online surveys
Surveys are my personal favorite way to earn passive income.
It’s just so easy.
Zap Surveys has your back on this.
They’ll pay you $6.25 for taking your first survey, blowing other survey providers out of the water.
They also provide cashback on deals from a huge variety of retailers.
If you’re going to take any online surveys, take them on Zap.
Cash back
Whenever you pay your bills with a credit card, you’ll generate yourself some passive income if your card offers cash back rewards.
Sign up for a Citi Rewards+ Card.
It’s the only credit card that automatically rounds up to the nearest 10 points on every purchase – with no cap.
Investing
You can invest with any kind of budget these days.
It’s easier than ever to invest online today.
There are no fees for placing online right now, and stocks start at an extremely low price.
Robinhood, the mobile app for millennials new to investing, has the game in a chokehold right now.
You get one free stock when you sign up!
Passive income will instill a lot of joy and happiness into your life as a college student, not to mention some self-worth and pride.
Happy earning.
