7 Ways for College Students to Make Money from Where They Live
Going to college is one of the most rewarding experiences. You meet tons of new people and get to live on your own, a first for many.
But college can be an expensive proposition. According to recent data, attending college on a moderate budget will run you about $24,000 a year. Plus the frozen pizza and Kraft dinner.
Oh ya, and unpaid internships. Don’t get me started!
Despite college being expensive, it’s one of the most worthwhile experiences. Unless you went to Trump University, but we won’t go there.
Yes, college is expensive but always remember, we’ve got your back. As Casual Capitalist readers, you’re all a smart bunch, and I’m here today to help you build on that knowledge.
Back in March 2016, we spoke about TaskRabbit as an awesome job opportunity for college students. But today, I want to introduce a few more ways for college students to make money.
So let’s dig a little deeper and explore some alternative income options for college students. And the sharing economy is a fantastic place to start for those who want to make money from things they already own.
Turn your college home or apartment into a small business in minutes with these seven unique income opportunities.
1. Rent a Room on Airbnb
With your landlord’s permission, using a spare room in your apartment or home as an Airbnb rental can be an excellent way to make some income.
Airbnb is an easy way to monetize an unused room or basement. Hop onto Airbnb now to see what listings are currently in your area. This will give you an idea of your prospects for success.
Also, check out the cool statistics website AirDNA to figure out how much you can realistically make by renting on Airbnb.
When it comes to the best ways for college students to make money, Airbnb is about as good as you can get.
2. Home-Sharing: Tansler
If Airbnb seems logical for your situation, also consider renting out your entire home or apartment on Tansler. I’ve done this in the past, where I bunked with friends down the road while the guests were staying in my apartment. All it cost me was a case of beer!
Tansler is a home-sharing platform similar to Airbnb, but with some differences. First, it is a reverse-auction site, so renters can suggest their price. In turn, bookings are final, so the income for you is guaranteed. This also means you get paid 48 hours after the booking is confirmed. Most short-term rental hosts have to wait until after the guest arrives.
As a host, you have the final say. If you don’t like the price, you can decline the offer. Simple as that! And Tansler is currently offering a $75 travel credit for any new host that signs up and also offers referral credit for friends that list their place or use Tansler to rent. That’ll be fun to have come Spring Break!
3. Rent a Room on Homestay
Homestay is a home-sharing platform similar to the above sites with over 50,000 properties in 150 countries.
As opposed to Airbnb, stays on Homestay are ‘hosted’. This means that Homestay hosts are expected to be available throughout the stay by welcoming guests, providing breakfasts, and giving local tourism advice.
This can be an excellent way to share your love of your city. Learn more here about Homestay and becoming a host.
4. Share Your Parking
Empty parking spaces are one of the many unproductive assets that people are monetizing through the sharing economy. In simple terms, sharing economy parking platforms allow you to monetize a spare parking spot.
JustPark is one of those websites that is available globally and is used by over 1 million drivers. As a driveway owner, it is very simple to list your space on JustPark, and it’s free to sign up.
For all my Canadian readers, Rover Parking is a similar service that is killing it in Canada.
5. Share Your Kitchen
I can’t cook. It’s the reason I married an Italian. But for all of you out there who are amateur chefs, then consider meal-sharing as a way to earn money from your kitchen.
This process is referred to as a hybrid dining experience where you dine at someone’s home rather than a restaurant. Typically, you eat at the chef’s home, which allows for a more intimate setting and a more social dining experience.
But I’d stay away from cooking Kraft dinner pizza. So I’m out.
6. Share Your Car
Many college students don’t own vehicles. But if you do own a car, then consider renting it out on Turo. I even have a friend who bought a car only to use it for car-sharing. But that’s a story for another day.
Turo is a great way to earn income from your vehicle instead of letting it sit idle in your driveway.
Turo connects car owners with renters, to share vehicles at an agreed upon cost. Consider it like Avis, or Hertz, but you are the rental agency.
7. Be a Doggy Hotel
If you are a dog owner or lover, there are two sharing economy websites you should check out today: Rover and DogVacay. As you can probably guess, these websites allow you to host other people’s dogs for a fee.
DogVacay has over 20,000 pet sitters in 3,000 cities in North America. Rover has over 25,000 sitters in 9,000 U.S. cities.
If you love animals and/or already have some in your home, why not consider DogVacay or Rover? You’ll be barking up the right tree (sorry!).
Hands down, pet sitting is one of the best ways for college students to make money. And you can study while doing it!
There you have it people, seven flexible jobs you can start now. After all, you’ll need to start saving up to buy a fancy frame for that flashy college degree!
Whether it’s home-sharing, pet-sitting, car-sharing, or being a delicacy KD-pizza chef, there are so many ways for college students to make money. Get started now by picking at least one of the above options and trying it out for a few weeks. What’s the worst that could happen?
Glenn “The KD King” Carter