passive income
Photo by Jp Valery on Unsplash

Best Passive Income Ideas for Students

Need some money but not a huge amount of time? Here are some things you can do.

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passive income
Photo by Jp Valery on Unsplash

Need some money but not a huge amount of time? Here are some things you can do.

Students going abroad on an F1 study visa usually have a lot of tuition, living expenses, classes and traveling to manage. When at home, these expenses are typically taken care of by parents. However, the costs should not deter you from your educational and subsequent career goals. While managing finances is critical, there are several ways that you can cope.

There are several excellent options for students in this new age of digitalization and social media. Since most students are already well-versed with technology, online classes, video calls and instant messaging, getting online jobs for passive income is easily possible.

Best High Paying Jobs for College S...
Best High Paying Jobs for College Students

Most students wonder if there are any entry requirements, eligibility criteria, or barriers to starting a passive income stream. The answer to all these questions is a resounding no! You need your wits, enthusiasm, and alertness to grab new opportunities.

Here are some passive income ideas for students.

Freelancing

Freelancing is excellent for students with access to a laptop and a steady internet connection. Suppose you do not have access to a robust Wi-Fi system at your student residence. In that case, you could consider using the Wi-Fi access in the university library or study area on campus. If you have any valuable skills for businesses and companies, you can get an online part-time job or work on a pro-rata basis per project. Many online sites facilitate connecting freelancers with clients looking to outsource work for a fee.

Some in-demand freelance skills include video editing, coding, content creation, content writing, translation services, copywriting, transcriptions, voice-overs, web designing and maintenance, surveys and search engine optimization.

Once you have a few skills to develop, you should start charging by the hour or per project (depending on your chosen field) to help with the passive income. However, you must ensure you keep your grades up, or your academics will suffer.

YouTube Channel/ Blog

Most teenagers and young adults know how to record videos, edit them, and create fresh content for viewers. With easy access to social media, anyone with a brilliant concept can open a YouTube channel and increase the number of their followers and subscribers. The more views and followers you gain on YouTube, the higher your chances of earning. YouTube pays channel hosts for good, helpful content.

If you like writing and have a skill worth teaching or writing about, you could start a blog. Blog sites have space for Google Ads, which also fetch money for hosting them on your space. Creating a blog and monetizing it takes longer since there are several criteria you must meet — including search engine optimization (SEO), marketing and value for money content.

Create a Course

If you are skilled at a topic, you can create a course around it. Many educational sites allow users to upload a course (with lectures, videos, questionnaires, and reports). When on these sites, you must ensure that your course is valuable, that your teaching skill is relevant, and that the content is excellent.

Once you start getting positive reviews and people start purchasing your course, your passive income will start flowing to you automatically — even in your sleep! However, it would help to market the course and spread the word.

Virtual Assistance (VA)

Virtual assistance is just that — assisting businesses virtually. This work usually varies based on the needs of the business or organization. Some companies need a VA to help with answering emails, making cold calls, answering phone calls, booking tickets, helping collate data and more. Some even need assistance in answering or replying to customer queries.

You do not need to be present in an office to do this work. You can do this virtually while on campus or in your room. Most students get hired as social media managers and get paid hourly to help improve the global brand standing of a business. Since most students are well-versed with social media, picking up this job could also be a great way to add work experience to your resume and help you get a great job once you graduate.

Pet or House Sitting

Most local community boards need house or pet sitters. If you have a few days a week free or are available over the weekend, you could offer your services as a pet or house sitter. It’s a bonus for you if you love pets. Most pet parents prefer compassionate people to look after their furry friends.

You must ensure they are walked, played with, and fed at mealtimes. House sitting also helps if you have other work and need a quiet place to work or study.

 

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