Your years at university can be among the most fun, educational, exciting and liberating of your life. However, before starting, you need to make sure you are prepared for it mentally, emotionally and financially. For many people, going to university can be a big change in their lives, particularly if they are going to be living away from home, which is why it is important to be as prepared as possible.
One of the ways in which you need to prepare for university is in terms of finances. Life as a student can be very tough financially, and even with various student loans and grants you may find yourself struggling, especially if you are living away from home. Putting some money aside to tide you over is a great way to ease the financial strain so you can focus more on your studies rather than stressing about money.
Build a university nest egg
If you want to kick start your new life at university, it can be really helpful to have a financial nest egg put aside to help you through the tough times. This is why you should spend the months leading up to the start of university earning a little extra cash to help you along – and this is something that you can continue to do whilst at university.
5 ways to make money before you start university – and also during your time there – include the following:
- Get a summer job: If you want to make money before you start university, consider getting a summer job between leaving school or college and starting university at the start of the autumn term. Doing this can benefit you in more ways than one. Not only will you earn some money for your university nest egg fund but you will also gain work experience, which can benefit you if you decide to get a part-time job during your studies. This will also be good for your CV after you leave university and start applying for full-time work.
- Have a clear out: If you are going to be living away from home while at university, it is a great idea to have a clear out of your room at home before you leave. Not only will you be able to work out what you need to take with you when you go, but you can also make money. You can do this by selling clothes for cash if you no longer want or need them, and recycling and selling old gadgets and devices that you no longer want.
- Put your skills to good use: If you have a particular skill, whether or not it is related to what you will be studying at university, you can put it to good use and earn some money. This is something you can do before you start and also while you are there. For example, you might be good at sewing/needlework, in which case you could offer your services to locals in the area and to students at university who might want alterations to clothing. Alternatively, you may be a dab hand on the computer, so you could offer training or repairs. Think about your skills and work out how you can use them to make some money.
- Get a Saturday job: If you want to earn a little extra money while at university, you can look at getting a Saturday job. Again, this will not only help you financially but will also look good on your CV and provide you with valuable work experience, no matter what line of work it is.
- Be entrepreneurial: While you may not fancy the idea of being tied to a job where you have to work set hours while studying, you can still earn money by being entrepreneurial and thinking outside the box. For example, you could offer local services such as dog walking, pet sitting, or even lawn mowing to locals before you leave. When you do move away, these are things you could continue to offer, giving you the chance to earn money while working more flexible hours.
There are plenty of traditional and inventive ways in which you can try and make some extra money to make life as a student far easier. Any more ideas?
photo credit: Images_of_Money via photopin cc
I was lucky that my mother paid for college, but I paid for my spending money. I used summer jobs and occasional jobs to get me through the year.
@Krant: I was lucky as well – in Bulgaria we paid no tuition fee and my Dad paid for my living expenses; as I said before this was his only investment and it did pay off big time.
I stocked shelves at a supermarket all through high school to make money for college. Then while I was away at school I constantly worked different jobs to pay for school and to have spending money. It was no fun at the time, but graduating without any student loan debt was a huge win in hindsight.
@The First Million: When I was at high school I I worked during the summer. Now, the embarrassing part: I did archeological digs and worked as a tourist guide. Gosh, I am spoiled!
Summer jobs helped me through college too.
@KC: I worked throughout university as well; and not only during the summer. Mainly in research institutes learning the craft of empirical research. As I said: spoiled. And I always had money – ‘poverty’ hit when I arrived in the UK (for several months; then all was back to normal).
I preferred to work all uni year and have summer off. Tutoring was my favorite job, and I enjoyed being a waitress too, for the tips.
@Pauline: Tutoring – yes, any time. Being a waitress on the other can be expensive for me and the place where I do it; not the most coordinated person in the world and always dropping things. Thank goodness the saying goes that ‘broken brings luck’ – at least some consolation.
Great points! I find that doing things not restricted to a specific schedule (i.e. tutoring, etc.) work out the best with a college academic schedule.
@Mike: Yes; and contribute value as well :).
I do summer jobs to ease my finances. Because of a summer job, I didn’t ask too much money to my parents. Thanks for the tips though!
Starting a successful blog or website is tough but just starting something out is easy. I would love to see more high-schoolers directed to starting their own websites as a way to make extra income. Most take more than a year before they become profitable. By the time, they’re in school, they’ll be in really good shape to have some extra income or a full time income to pay for living expenses and that all important task of saving. JT, one of the writers for thecollegeinvestor.com has done something similar to this. I wish I would have started mine at least earlier in my college years instead of waiting till my last year.