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5 Unusual Ways to Make Money as a Student
The internet is a vital resource for so many reasons, but have you considered using it as a source of income? Here, Peter Watton from OddsMonkey suggests five side hustles that will suit your student lifestyle.
With current restrictions in place, travelling is off the cards for many this year. So, why not make use of the downtime by saving for your next trip? If juggling a full-time job with lectures and coursework sounds like a challenge, then a side hustle might be more your thing.
At OddsMonkey, we surveyed 2,000 British adults to find out how they’re getting an extra source of income, and found that one in four respondents have a side hustle. And, after recent events have caused unemployment rates to rise (ONS), this number is now likely to be much higher. So, why not join them?
There are so many ways you can make a bit of extra money, whether it’s by taking part in consumer research or starting your own online store, so there’s bound to be a side hustle for you. Below, I’ve listed five extra money-makers that would be perfect for students. Give one of these a go and you’ll be saving for your dream trip in no time!
By Peter Watton
Test Some Websites
A lot of work goes into making websites, and companies appreciate all the feedback they can get. In fact, some will even pay you to test their site and make sure it’s suitable for users. All you’ll need to do is sign up for a web testing site like WebUsability, and they’ll contact you with opportunities they think you’ll be a good fit for.
Each test typically takes around 25 minutes to complete, and you’ll usually get paid for each one. The amount you earn depends entirely on the platform you use and the site you’re testing, but WebUsability says participants can earn between £40–50 per test. The best part? Many platforms offer remote testing, so you can do it all from the comfort of your own room.
Take Part in Surveys
If you like the idea of getting paid for your opinions but website testing doesn’t sound like your thing, then you could try taking online surveys. Just like web testing, all you need to do is sign up for an online survey site, like i-Say or Swagbucks, and you’ll be sent various surveys via email. Alternatively, you could consider taking part in product testing. Sites like Paid Product Testing will send you new products to try, and you’ll get paid for your honest opinion.
Just like with web testing, the amount you’ll be paid can vary depending on which surveys you answer and how many. Most surveys can be worth anywhere from 20p to £10, so you may need to answer quite a few for this to be lucrative. However, answering surveys doesn’t take too much time to do, which makes it a great opportunity to earn a bit of extra money in your spare time.
Bear in mind that some sites only offer payment with gift cards, and others only pay out once you reach a certain threshold, so it’s worth looking around to find the right site for what you want.
If you’re interested in a short-term side hustle, then testing websites and doing surveys are both great options. But you could also consider matched betting. Unlike gambling, matched betting involves using the free bets and deals from bookies to bet on both outcomes of an event, so you can unlock the value of the free bet and turn it into real profit. On average, you could earn between £500–£700 per month using matched betting.
To make sure you’re making a profit, I’d recommend using a matched betting service and odds matcher, which will help you find the best betting odds and opportunities.
Rent Out Your Things
Selling your belongings can be a great way to make money, but what if you don’t have anything you want to sell? In that case, there’s always the possibility of renting your items out to people who need them for a short while. Sites like Fat Llama and RentNotBuy will let you list your items free of charge, and people will pay you to rent them out.
You can rent anything from cameras and musical instruments, to bikes, books, and even your car, so it’s a great way to make money off the things you don’t currently have any use for. You’ll be able to choose your hire price (usually based on a daily or weekly rate) meaning the amount you earn can vary based on your listing price and how often your item is rented. And, because you’re not selling anything, you can make money off the same object time and time again.
Want to create your own online store but don’t know what to sell? You could always give dropshipping a try. This is a more modern e-commerce method where you, as the seller, don’t actually hold any stock yourself. Instead, you source it from another company or warehouse who will hold the items and ship them off to the customer for you.
To do this, you will need to create your own website, as well as source a supplier. If you’re living in student accommodation and are low on space, this can often be an easier method than running a traditional online shop, as you won’t need to fill your house with products or pay somewhere to store them for you.
The amount you earn from dropshipping can vary depending on what you sell, and it’s worth weighing up any extra costs you might have to pay, such as taxes, import fees, and returns fees, before deciding if it’s right for you.
There are so many unusual ways to make money that you’re bound to find something that takes your fancy. Whether you’d like to answer surveys in your spare time, rent or sell things online, or even try dropshipping, why not give one of these ideas a go while you save for your next big adventure abroad?
If you’re looking for a way to make a bit of extra cash, check out OddsMonkey’s helpful guides to making money online.