Earning some extra money while you’re at university or studying for an apprenticeship full-time isn’t easy. You’re already using up your ‘nine to five’ on your studies, so how can you find the time to make money? Whether you’re looking for some extra spending cash or you’re saving up for something special, Loqbox has you covered with 8 side hustles and passive income ideas for students.
What are side hustles for students?
Student side hustles are jobs that you can do in your spare time. As a student you will be busy with your studies, so you may not be very time-rich. But you might find that you have your evenings and weekends available. A side hustle is a job or income stream that you can fit into those free time gaps in your week.
What is passive income for students?
Unlike side hustles, where you use free time to earn extra money, passive income is money that you can earn without having to trade off on your time. While it can take time to initially set up and prepare, the great thing about passive income streams is that they carry on earning without having to do anything at all.
8 best side hustles and passive income ideas for students
Here are some great tips for students to earn money from home, find the best side hustles, and get some side income ideas.
1. Sell your creativity online
Here’s a crafty passive income idea for how to earn money from home for students —if you're talented in arts, crafts, or graphic design, why not turn your creativity into cash?
Set up an online store on platforms like Etsy or Redbubble to sell your unique creations and designs. This way, you can turn your passion into a lucrative side hustle.
2. Become a tutor
A great online side hustle for students who are acing their studies, or have a particular skill that they excel in, is to share your knowledge and become a paid tutor.
You could tutor fellow students or even teach a language online (don’t worry if you’re not a polyglot yourself, you can offer immersive conversation lessons if you don’t speak their language). There are plenty of people out there who want to learn what you can teach them and they’ll be willing to pay for the knowledge.
3. Start a blog or a YouTube channel
Fun side hustles for university students or apprentices can be born when you turn something you’re super passionate about into a blog or vlog. Whether it's travel, gaming, beauty, or cooking — if it’s something that you fill your spare time with anyway — why not share it with the world?
Grow your audience and monetise your content through ads, sponsorships, or affiliate marketing.
4. Start investing
Sources of passive income for students can be as simple as investing in stocks and shares. This is not a guaranteed get rich quick plan though (despite all the social media gurus promising otherwise). So before we go further with this tip, be mindful that we mean approaching investing with a ten year or more time-frame.
Not to mention, investing can be risky. There’s no guarantee you’ll get back more than you started with. But if you have some time to let your portfolios grow you can make some excellent returns. Start small, spread your investments to widen the net and get professional advice.
5. Freelance your skills
The best side hustles for students are ones where you can manage your time around your studies. If you’re studying for a career in writing, graphic design, programming, or social media you could offer your services as a freelancer on platforms like Upwork or Fiverr. This way, you can earn extra cash while building up your professional portfolio.
6. Sell your stuff online
If you’ve got a cupboard stuffed full of clothes you never wear, or you’re lugging around a big collection of items you don’t really want to keep, why not sell them online and turn them into cash? Not only do you generate some much needed income but you might even free up some space in smaller student accommodation.
7. Rent your stuff out
Whether it's your bike, your car, a spare room (if your lease allows it), or some storage space — if you have anything that other students could also make use of — you could maybe make some extra cash letting them borrow them. There are plenty of online platforms that can help you to rent out your things with protection.
8. Do some market research
Think you’re opinionated? Or maybe you’ve been told that you are! Well, why not get paid for your opinions?
There are sites that pay you to take surveys. They often don’t take too long to complete and you get paid for each one. So you can earn extra cash and contribute to market research for various companies in your own time.
So, are passive income and side hustles for students a good idea?
Yes! Boosting your income while you are at university or college is a great way to balance your finances at a time when money can be tight. But remember, side hustles and passive income sources should complement your studies, not replace them.
Always put your education first and make sure you keep a good work-life balance. With determination, creativity, and consistency, you can turn these ideas into reliable streams of income. So, go ahead and explore the ones that resonate with you the most. Happy hustling!