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5 Innovative and Smart Ways to Earn from your Dorm Room

5 Innovative and Smart Ways to Earn from your Dorm Room

If you are a college student, chances are high that you could utilize some extra money. Moreover, you realize that bagging a job is probably not the ideal choice because it can surely get in the way and disrupt the schedule of your classes.

Your teacher may schedule a night test or even a sudden paper that needs to be worked upon on a short notice. Therefore, if you spend time working for most of the day, how will you eventually manage your schoolwork?

Staying up until the wee hours of the morning is a viable option; however, this only compounds the problem as you begin to wear down from lack of relaxation and sleep. Imagine a scenario where you can earn additional income from your dorm room, while simultaneously maintaining a schedule that works just right for you.

Given below are 5 innovative and smart ways to earn from your dorm room.

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1. Online Tutoring and Teaching

If you have subject matter expertise in any subject like Economics, Physics, Mathematics, or any other college course, it may be extremely helpful to become an online tutor. You will not only earn some additional money assisting fellow college students, but also obtain tremendous job satisfaction with regard to the teaching profession.

Of course, the pre-requisite is to have excellent teaching skills. There is a wide range of websites where you can log in and offer your services as online tutor or expert on your subject. You can register yourself free at Wyzant , Transtutors or Chegg and start to tutor other students on different subjects.

2. Sell Your Services

BareFootStudent is a website that is dedicated to giving college students the ability to offer their services to the local community. It is now possible to provide a wide-range of diverse services, including child care, freelance writing, pet care, house-sitting, and much more.

If you possess the requisite knowledge and expertise with these types of services, then finding a part-time job in your local area should not be difficult at all. Such services should additionally give you the ability to be flexible when it comes to your class schedule, and you need to put in the requisite hours of work according to your preferences and wishes.

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Thus, you can choose your own working hours. Just make sure to promote your profile optimally, and the business will surely keep returning.

3. Take Surveys

When many diverse companies need suggestions on a particular product or service, they eventually release surveys to effectively ask specific concerns for gathering details regarding the needs and wants of their industry.

Students are ideal survey takers. This is because they are highly qualified and possess loads of free time. Therefore, you can earn a decent sum of money taking surveys.

Websites such as Swagbucks and a few others allow you to take surveys and earn some cash while carrying out this task. In general, the job of taking surveys is not really inspiring or lucrative. However, with a little devotion and dedication, you can eventually earn an impressive sum of money.

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4. Craigslist and eBay

There are several methods for you to earn cash on Ebay and Craigslist, which do not primarily involve parting with and selling your possessions.

Do not misunderstand this. If you are not actually using an item that could be of potential use to someone else, it is quite possible to earn some decent cash selling some of your possessions.

Moreover, you have the ability to offer your services on Craigslist. Services could be anything from mowing to house-sitting. In addition, if you have a creative mind, you can earn money by creating and selling goods on eBay.

5. Start your Personal Blog or Website

Starting your personal blog or website can be an extremely lucrative method to earn a handsome income without the need to leave your dorm room.

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You need not have knowledge of programming languages to begin a web page as there is a good chunk of free scripts that will create the website for you, including WordPress, Drupal, and Joomla.

That being said, making money from your dorm room can be a challenging task if you fail to understand what exactly you are doing. With loads of exploration and an excellent strategy, you can make a good sum of money owning your own blog or website.

The key is drawing traffic to your website. This is where you should focus because there are millions of websites engaging in cut-throat competition. The ideal way to get free traffic is to obtain them from major search engines.

Lastly, your website should rank high on Google if you want the big bucks.

Conclusion

As can be seen, there are several diverse ways that you can effectively market your services to other people from the comfort of your dorm room. Earning additional money during college years can keep stress at bay because a lack of cash when you need it the most is extremely stressful.

Possessing disposable income during college years is quite uncommon. However, if you draw inspiration from the five ways mentioned above, you will end up making a good amount of money in a short time.

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Adnan Manzoor

Data Analyst & Life Coach

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Published on September 17, 2018

How Being Smart With Your Money Leads to Financial Success

How Being Smart With Your Money Leads to Financial Success

Achieving financial success is not something that just happens. Maybe if you win the lottery or something, but for the average person like you or me, it comes from a series of small steps you take over a long period of time.

With each step, you form a new smart money habit. And with each smart money habit, you build towards financial independence.

So what sort of habits can you form to get on that path? Let’s take a look at smart money habits you can start today to get you closer to a financially independent future.

1. Avoid being “penny wise but pound foolish”

It’s tempting to try saving a couple cents here and there when buying small items. However, that’s not where the real money is saved. You’re putting in extra effort for something that doesn’t move the needle.

You get the most bang when you’re able to cut down on your bigger bills. For example, finding a lower interest rate for your mortgage could save you $50+ per month. And cutting your transportation bill by purchasing a cheaper car or taking public transportation can provide large gains as well.

So, look at your recurring expenses such as housing, transportation, and insurance, and see where there’s wiggle room. It’s a much better use of your time than trying to pinch pennies here and there on smaller purchases.

2. When you want something big, wait

Impulsivity can get you in trouble in most aspects of life. Finances are no different.

It’s human nature to see something and want it right then and there. It starts as a kid in the checkout line at the grocery store, and it continues on through adulthood.

We get an idea in our head of something we want, and it’s hard not to go out and get it right then.

A good example is wanting a new car. Perhaps you’ve had your car for several years. It’s crossed the 100k mile mark. Maybe maintenance is due, and you’re annoyed that you need to replace the timing belt or purchase new tires.

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So, you get the itch.

You start digging around online, and you realize you could trade in your current car for something newer and more exciting… all for a few hundred bucks a month. Then you get obsessed.

Here’s where you have to take a step back.

Your newfound obsession is clouding your judgement. Rather than giving into the impulse, wait it out.

Set a timeframe for yourself. Maybe you come back to the decision three months down the road. See if the obsession lasts.

It might, but often, a funny thing happens. Often, you forget about it. And often, you find that the new car wasn’t a need at all.

The impulse faded. And you just saved yourself a ton of money.

3. Live smaller than you can afford

You finally get that big raise. And you want to celebrate – and why not?

You’ve been looking forward to this forever. And after all, it was all due to your hard work.

That’s fine, splurge a little. However, make it a one-time deal and be done.

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Don’t get caught in the trap that just because you’re now making more money, you should spend more.

Too often, people get more money and feel like they that gives them the means to buy a bigger house, a bigger car… you know the drill. Resist.

The fact is that living smaller than what you can afford is one of the fastest ways to build savings.

But if you constantly upgrade as you begin to make more, then you’ll never get ahead. You’ll just build up more debt along the way and have just as little wiggle room as before.

4. Practice smart grocery shopping

Food… it’s one of the biggest portions of any budget. And if you’re not careful, it can be one of the biggest drains on your wallet.

But luckily, there are a few things you can do to ensure that you stay smart with your money when buying groceries.

Create a grocery budget

Set a strict weekly grocery budget. When you know how much you can spend on groceries, you can then plan your weekly menu around it.

Once you know what all you need, you can go shopping and keep a running tally as you shop to ensure you’re on track.

I tend to do this in my head, rounding for each item. However, writing it down as you go would probably work best for most people.

Make a list… and never deviate

Never go to the grocery store without a list. If you go to the store with a ballpark idea in mind, you don’t have a true ide of what you need.

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You’re not well-researched. You don’t know what the sales are. As a result, you’re going to make decisions on the fly.

These impulse decisions will lead to overspending, which will derail your grocery budget.

Eat before going grocery shopping

It’s also important to eat prior to going to the grocery store. Hunger is a powerful force.

If you’re shopping on an empty stomach, everything is going to look good. In particular, you may find a lot of ready-made, processed snacks will look enticing.

After all, you’re hungry now and that food is easily available. So subconsciously, you may lean towards those items.

Unfortunately, not only are those items typically less healthy, but they’re likely more expensive. You pay for convenience.

However, when you eat prior to shopping, then you’ll shop with a clear mind. Your hunger won’t cloud your judgement, influencing you to make poor decisions like a cartoon devil resting on your shoulder whispering in your ear.

This makes it much easier to stick to your grocery plan.

5. Cancel your gym membership

Now that you’re all set on your food, it’s time to get smart about managing your budget in terms of physical fitness. And let’s begin by avoiding the gym. The gym bill, that is.

The average gym membership costs around $60 per month. That’s $720 a year.

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Yet, two out of three gym memberships go unused. That means two-thirds of people who have a gym membership are literally giving away almost a thousand bucks a year. It’s crazy!

I recommend seeking an alternative. One good alternative is to look into fitness streaming services.

Streaming services allow you to stream hundreds of workouts like Insanity and p90x, right in your own home for around $10-20 a month. That’s $40-50 less a month than the average gym membership.

Of course, then there’s the free option. The internet is full of free workouts that you can do on your own with minimal or no equipment.

For example, there’s the Couch to 5K program, that I personally used a decade ago to ease myself from couch potato to running my first 5K race. If I could do it, anyone could.

Then there are free resources like reddit that have limitless information on workouts. The Fitness subreddit has done all the research for you, populating workout tips and detailed workout routines for anyone to use in their wiki.

There are several routines that require no equipment. And you can join in on the subreddit to become part of the community, making it easier for those seeking comraderie and encouragement in their fitness goals. All for free.

It’s baby steps… And baby steps can start now!

I’ve never met anyone that can’t stand to be a bit smarter with their money. And on the flip side, anyone can get smarter with their money. But remember, it doesn’t happen all at once.

Begin by fighting your impulses. Prepare for the week and be smart at the store. And cut monthly expenses like gym memberships that are overpriced and you probably aren’t getting your money’s worth out of anyway.

The devil is in the details. And the details can change your lifestyle and prep you for a financially independent future.

Featured photo credit: Unsplash via unsplash.com

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