Students have a lot on their plates. Between classes, homework, and social activities, there is barely enough time to breathe, never mind earning a passive income.
However, it is definitely possible with the right tools and strategies in place! This blog post will discuss some of the best ways busy students can start earning a passive income. Keep reading to learn more!
If you are skilled at something, why not use these skills to earn a passive income? There is an incredible amount of opportunity in freelance markets. For example, if you have excellent English skills (and don't mind proofreading), there are plenty of opportunities available on sites like Upwork and Fiverr where people need help with their writing and editing.
Alternatively, if you are a skilled programmer or web developer, there are always people who need help creating and maintaining websites. The great thing about freelancing is that you can work on your own schedule, which is perfect for busy students!
Another great way to earn a passive income is by investing in assets such as stocks, real estate, and mutual funds. While this may require a bit of up-front money, over time, these investments can yield big dividends. While this may seem daunting at first, tools for fundamental analysis are easily accessible online and can greatly help you out.
For example, if you invest in a stock that pays out a quarterly dividend, you will receive a payment every three months simply for owning the stock! This is a great way to make a little extra money without having to do anything. Learn more here in SGX Beginner's guide to investing.
Dropshipping is a business model where you sell products online but do not keep any inventory yourself. When someone orders a product from your store, you simply purchase the item from a supplier and have it shipped directly to the customer.
This is a great business model for busy students because it does not require a lot of time or money to get started. You can literally start dropshipping with just a few dollars and a laptop!
One of the best ways to earn a passive income is by blogging. This may take a bit of time to get started, but once your blog is up and running, the income potential is limitless.
Blogging is a great way to share your thoughts and ideas with the world, and it can also be a great way to make money.
Wondering about financial options?
Explore how online savings accounts work to discover convenient and potentially lucrative avenues for your hard-earned money.
In fact, many bloggers earn a full-time living from their blogs!
If you have a skill that others could benefit from, then why not get paid to share it? You can tutor students in subjects like math or English, and many other things.
Tutoring is also an excellent option because you are helping others while earning money at the same time! These days you can even hold tutoring sessions online via Zoom or Skype. We have a live listing of all our tuition jobs on our website as well, check it out.
One of the easiest ways to earn a passive income is by taking online surveys. These days there are many different companies that pay people to take their surveys and provide feedback on products & services they offer.
The great thing about this type of earning opportunity is that you can do it from anywhere! All you need is an internet connection and a computer or phone. Plus, the surveys usually don't take very long to complete.
Selling Used/Secondhand Items
Another great way to make some extra money is by selling your used/secondhand items online. Sites like eBay and Craigslist are great places to sell everything from clothes to furniture.
The best part about this strategy is that you don't have to worry about shipping or handling fees, as the buyer usually takes care of the delivery expenses.
Rent Out Your Car
If you happen to be a lucky kid whose parents provided you with a car for your commute to your university or polytechnic, then you are in luck!
Many people don't realize that they can easily rent out their cars for extra cash. There are lots of companies like Turo and HyreCar that allow you to list your vehicle on their platform where people in need of transportation will come pick it up from you! You just set a price per day or week, sit back, and collect your earnings.
This is a great way to make some extra money, especially if you don't use your car very often. Plus, you can still drive it when it's not rented out!
Use Your Car for Advertisement
If you don't want to rent your car, then why not use it as an advertisement? Many people are looking for ways of making money while they drive around town – and if that sounds like something you would be interested in.
There are lots of companies that offer this service: There are many companies out there that allow you to wrap your car with advertisements and then pay you per mile driven while also providing insurance coverage! So what are you waiting for?
Affiliate marketing is a great way to make money online by promoting other people's products. When someone buys something from an affiliate link on your site, you earn a commission for the sale.
This strategy may require some up-front work and time, but it can be very lucrative once it gets going! It also offers more flexibility than other options because it's not tied to any specific hours or days of the week. Learn more about it here.
Sell Your Artwork and Photography
If you have a creative side, then why not turn that into an income stream? You can sell your artwork and photography on platforms like Spring or Redbubble for passive income! They even handle all of the printing and shipping, so you don't have to worry about any of that stuff. You can use gelato printing service if you don't have a printer at home.
This is a great way to make money while doing something enjoyable! And if your artwork or photography skills aren't up to par yet, don't worry – there are plenty more ideas on this list that can help you get started.
Start a YouTube Channel
YouTube is a great platform for anyone looking to make money online. In fact, many YouTubers earn a full-time living from their channels! All you need is a good idea, some creative content, and the drive to keep making videos.
If you're not sure where to start, there are plenty of online courses that can help you get started. And don't forget to check out the YouTube Creators Academy for more tips and advice.
Sell Your Notes
Did you know that you can sell your notes to other students? You can do it directly (peer to peer) on campus, or you can use sites like EduBirdie that allow you to offer similar services!
Students who need help with their coursework can come to the site and purchase your notes. This is a great way to make some extra money while helping out fellow students.
Print On Demand Business
If you're a creative person, then you may want to consider print on demand as a way to make money online. This is a service that allows you to create and sell custom products like T-shirts, phone cases, and more.
All you need to do is design your product, upload it to the site, and set your price. Customers can then buy it directly from you without having to worry about shipping or handling fees!
Gaming Apps That Pay Money
Did you know that there are gaming apps that pay money? In fact, many of them are quite popular and can be a great way to make some extra cash.
The best part is that you don't need any special skills or knowledge – all you need is a little time and patience! There are lots of different options out there; however, most of these apps only pay in local currency.
Food Delivery Service
If you have a bicycle/motorbike and some free time, then why not sign up for delivery services like Foodpanda / Deliveroo? These are food delivery services that allows you to work on your own schedule – perfect for busy students!
You can choose the hours that you want to work and make money while doing something you already enjoy (eating!).
If you're looking for a way to make money while also getting free accommodation, then house sitting may be the perfect option for you! There are many websites that allow you to search for house-sitting opportunities in your area.
This is a great opportunity for students who are already familiar with the area and want to save some money on accommodation. Plus, you get to live in a new place for free!
Walk Your Neighbor’s Dog
Do you love dogs? Well, why not walk your neighbor's dog for some extra cash? This is a great option for students who want to make money but don't have a lot of free time.
All you need to do is find someone in your area who needs a dog-walker and offer your services! You can charge by the hour or by the visit – it's up to you!
Create and Sell an App
If you have some programming skills, then you may want to consider creating and selling an app. This is a great way to make money online – especially if your app becomes popular!
All you need to do is come up with an idea for an app, create it, and then sell it on one of the many app marketplaces out there such as Google Play Store.
Become a Virtual Assistant
If you’re organized, efficient and have excellent communication skills then becoming a virtual assistant could be the perfect option for you! All it takes is some research into what services are needed most by other businesses so that they can focus their time on more important tasks at hand. You will need to be able to work independently while still maintaining communication with your clients through phone calls or email.
Do Online Translations
Do you have a strong grasp of the English language and some knowledge of other languages? If so, then online translations may be the perfect way for you to make money! This is a perfect opportunity for students who speak more than one languages.
There are many websites that allow people to offer their translation services for a fee. This is a great option for students who want to make money but don’t have a lot of free time.
Open your own tutorial class
Do you have strong academic grades?
Help other fellow students by offering tuition classes in groups at affordable rates. These days, there are many classrooms and tuition centres for rent. See our blog post here on some ideas.
You can start by opening 1-2 classes first. Once word gets around, you can start opening more classes and roping in your friends to help teach. Who knows, you might even have a full-fledged tuition centre after you graduate! No need to look for a job.
There are a lot of benefits to students pursuing passive income streams. First off, it's an easy way for them to make some extra money on the side without having too much time commitment or effort involved. Also, they don't have to worry about finding clients and negotiating deals with them. Most of the things are usually handled through online platforms.
It allows students to learn new skills and grow their businesses without too much risk! Students can also use this extra cash to pay off their student loans so that they are not burdened with debts years after they have already graduated.
There you have it! These are just a few of the best ways busy students can start earning a passive income in 2022. With a little bit of hard work and creativity, you can definitely find a way to make money that works for you!
So what are you waiting for? Start working on your passive income strategy today!