Send money back home to your parents? No way. With tuition, books, and rent piling up on top of you like a never-ending game of Jenga, the last thing you need is another monthly bill. But here’s the truth: if you want to graduate with any degree of success (and sanity), there are some sacrifices that need to be made, starting with your relationship with money. Here are some top ways students can acquire money when they are short on budget lets know them in details.
1. The classic student loan
No article on getting through college would be complete without the mention of student loans. These days, it seems like just about everyone has to take out a student loan in order to pursue higher education. The interest rates on student loans these days are fairly high; if you can get a loan through your parents or family members at a lower interest rate (which is not unusual because many banks offer this service), then it might be a better idea to do that. When you take out a Singaporean student loan, you don’t have to deal with the same issues. You can get a really favorable interest rate that suits your needs.
2. Get a part-time job
The only way you’re going to make any headway on paying off your debt or saving any money is by getting a job on or off-campus, and the sooner, the better. Many jobs will allow you at least some free time to go to class or study without having to worry about skipping out on your shift. If you’re not good with time management, it might be better to opt for a part-time job instead of a full-time one. And make sure you do your research before accepting a position, some places will charge students an administrative fee or won’t pay them as much as they would an adult or other non-student. Explore various opportunities online to make money, an approach that guarantees you steer clear of administrative fees and confidently ensures that you receive payment for your hard-earned work.
3. Completing paid surveys online
One of the easiest ways to make some extra money is taking paid surveys online, and there are plenty of sites out there that will allow you to do just that. All you have to do is register with one or two survey sites (some require membership fees, but there are others that do not) and start completing surveys for cash, vouchers, or even physical prizes.
4. Tutoring, editing, or proofreading
The next logical step after completing paid surveys online is offering your services as a tutor to other students who need help in certain classes. It doesn’t matter if you were struggling with the subject yourself because chances are someone else has the same question, so the only thing you’ll have to do is make a post on Facebook or Twitter and ask if anyone needs extra help. College students typically aren’t too picky about who they hire, so this might be your best bet in order to secure some work (and quick cash).
5. House sitting and dog walking
This one is especially helpful if you’re at school all week long, or if you simply need to make some extra money any way possible because you literally can’t afford to go home (or go out, or do anything that’s not related to studying). If you can find a local person who needs their house watched over while they are away on holiday for a week, then it might be in your best interest to apply. You could make anywhere from $10-$50 per night, depending on the location and the duration of the stay. Much like house sitting, dog walking and pet sitting can be an easy way to make some extra cash on your downtime. Many colleges and universities allow dogs in the dorms (especially for students who suffer from allergies), so if you’re an animal lover, this could be the perfect way to make some side cash.
6. Sell your old textbooks online
Selling books back to the bookstore is never a good idea because they will most likely offer you 5%-20% of what your book is actually worth. The best thing you can do with your pricey textbooks is selling them online, particularly on sites like Amazon or eBay. You can expect to make up to 75% of the price you originally paid for the book.
There are many ways students can acquire money when they are short on budget. You could hold a part-time job, complete paid surveys online, house sit or dog walk, tutor, edit or proofread, and sell textbooks online. The best way to find out which option is best for you is to explore your options and see what works best with your schedule and lifestyle. No matter what you decide to do, make sure you stay focused on your ultimate goal: graduating from college without any debt.