For finance students in college, that tuition, room and board and cost of books can add up quickly. Why not make the most of natural talents and that costly education and start making some money now? Savvy students can do much better than being a barista, and they’re inundated with information that can help them earn a decent living even as a student. Investments can be tricky, and now isn’t the time for aggressive stock buying.
However, proper, conservative and proven investment strategies can help even those on a 100 percent Ramen diet make some easy cash. If students are keeping their savings under the mattress, or don’t have any savings at all, there are some great resources available. First, make sure only the bare minimum of students loans are taken out. After that’s taken care of, these five resources can help any student make some cash.
Just because a person’s in college doesn’t mean they have to punch a clock. There are many telecommuting options geared towards finance majors. For example, if a person has a knack for writing, there are numerous postings for finance bloggers every day. Work from the dorm, set personalized hours, and earn unlimited income depending on quality of work. Check out a site like Freelance Writing Jobs to look for opportunities.
2. Online Savings Accounts
It’s no secret that banks don’t offer the kinds of interest rates they used to. CDs are almost never a good idea since it locks money away but doesn’t offer any better interest rate than a savings account. To make the most of savings, compare interest rates daily and consider an online account such as Chase 360. Less overhead means banks can provide a little higher yields, and if students opt out of getting a debit card, they’re less likely to spend that cash.
3. Promotional Modeling
There are always ads for promotional modeling opportunities, and the only requirement is a person is young, in decent shape and has a flexible schedule (which perfectly describes many college students). The pay often starts at around $20 per hour and can go as high as $75 in some cities. Most of these opportunities are completely on the up and up, and it’s a very lucrative part-time gig that works around class schedules.
Unlike the NYSE, Forex trades international currency and it’s open 24 hours, so students can log in throughout the night. However, there’s more luck involved with Forex compared to the skill of the stock market. Some people even liken it to gambling. Never invest more than can be lost.
5. Learn the Investment Ropes
Before diving in blindly to any type of investing, learn the basics. A site like Binary Review offers advice, tips and starting points that are easy to understand. It takes years to master these skills, so start with a sum that can be lost just in case.