Going to college or university is an exciting time, there is so much to learn, people to meet and fun to be had! It also has a tendency to be expensive. Budgeting may be a relatively new concept, especially if this is the first time you have lived independently. Being solely responsible for funding your time at college is an excellent learning process as you seek independence, but it is thwarted with unexpected expenditure. You may have received funding in the form of a grant or loan for your continuing education, some of which will need to cover living costs. To supplement this you could get a part time job, or it is possible to be creative and develop a potentially lucrative side hustle.
Developing a side hustle is easier than you think. The internet has opened up a whole host of opportunity for making money online. This article aims to highlight some of the ways you could make your computer “work” for you.
Become a financial trader
Financial trading used to be the sole domain of stock brokers in the city, however the internet has opened up the trading platforms to beginners. Financial trading involves participating in the financial markets. Traders buy and sell financial assets at the right time in order to make a profit. Assets include forex currency, bonds and company shares. You could also opt to trade in commodities such as gold, gas and oil. It is easy to get involved in financial trading, but not quite so easy to get good at it. For this reason financial trading is risky, so it’s good practice to gain expert knowledge on the process. There are so many aspects to financial trading and so much to learn. A contract for difference is a popular derivative form of trading, CMC markets enable you to find out more about cfds, so that you can trade with confidence.
Financial trading should not be seen as a short term financial gain, it will take many months of practice before you are confident in how the markets work. Most trading platforms allow access to a demo trading site where you are encouraged to actively participate in the trading process using “monopoly” money. This is essential practice before parting with your well earned cash.
Orchestrated carefully and successfully, financial trading can become a potentially lucrative side hustle.
Become a reseller
There is oodles of cash to be made from the sale of unwanted items on auction sites such as Ebay. Once you have sold all your own unwanted items you could source other items to sell on at a profit.
To source your stock you need to first research outlets of potential stock and then buy it at a low enough price to give you maximum profit. Excellent sources of stock include car boot sales, charity shops, thrift stores, jumble sales, garage sales and local facebook selling sites. Research which brands sell well and you will soon be able to spot the bargain buys.
To be a successful reseller you need to be able to haggle with sellers. Suggest a lower price for bundles or simply barter people down to a price you are willing to pay. Haggling is a skill which is daunting at first, but with practice you will soon be an expert!
Ensure your items are presented in the best possible way. Excellent photographs, showing your item from all angles are needed. Make sure you highlight any flaws in the items condition and photograph it clearly. Wash or clean items and mend any damage that can be fixed.
Most resellers choose an online auction site such as ebay to sell items on. You could also consider selling from a facebook site. Make sure you package items carefully before posting out to buyers and post promptly.
There are many ways of creating a side hustle to help fund your way through college this is just a small example.