How To Make Money as a Student

How to Make Money as a Student

Do you want to be rich even before graduating from college?

Do you want to have big money in your bank account as a student?

Then listen to what I have to say!

Almost everyone wants to be rich and wealthy but you know what? The tragedy is that not all know what they are required to do to become rich and wealthy.  It’s not that they are confused. It’s just that making money is not their ‘the number one priority!’

As a student you must be dreaming of earning and owning lots and lots of money one day. There is no problem with the vision.

The vision is clear.

But the path to becoming rich is invisible or foggy.

In this blog we will look into 3 Actionable that you need to do that will help you as a student to become rich. All you need to do is commit to becoming rich. It should be your number one priority after your studies. Once you commit and start following  the actionable, you will start walking on a path that will over a period of time take you to a goal where you will have the desired wealth.

Are You Ready?

Good! Let’s Rock and Roll!

1. Take Up a Part Time Job:

Whatever you want to do in life, one sure shot way of putting money in your pocket is to go out and use your free time after college productively.

Want to be rich?

Take up a part time job. 

Remember, no job is big or small. The job must be something that you should not be ashamed of talking about amongst your friends. If the job makes you uncomfortable, you may give up on it.

I have met lots of students doing part time jobs. Some work at a petrol pump, some work in departmental stores as a counter sales person, some work in a restaurant as a waiter. The opportunities are many in your locality if you really want to start a part time job.

Here’s how you can get started.

Take a close look at your qualifications. What skills do you possess? Based on that prepare a short Resume and approach lots of offices. Get them to interview you. Offer your services to them. Convince them to hire you. Once you get that job, you will have taken the first step towards becoming rich.

Even after you get a job, life will not be a bed of roses. There will be many challenges.

As a student you might get bored of your job, you might have pressure of completing your projects and may think of giving up on your part time job.

Here you will need to learn to manage your life in the given time effectively. Don’t give up on your part time job just because you think you can’t handle the pressure. Give yourself a chance and fight back. Discuss with your superiors. They might be able to help you.

You may have to give up on partying with your friends or enjoying your afternoon nap. As the saying goes – No pain, No Gain – you will have to train your body to go through certain changes which will destroy all the hurdles on your way to become rich.

Okay, once you have a job, at the end of the month you will have your salary in your hands.

What are you thinking?

Shopping! Partying with friends! Travelling!

Whoa!!!

Cam down! Calm down!

Don’t get excited!

Control your emotions.

This is really going to be tough for you. Don’t go shopping with your money or don’t go throwing party for your friends.

This is where the second step comes.

2. Don’t Buy Things that You Don’t Need:

As soon as you have that salary money in your pocket chances are your mind will start thinking of all the things that you need to buy right now. It can be a new shirt, a new smart phone, a new pair of shoes, and the list will go on.

Order your mind to be quiet. Control that sudden surge of sensation. Don’t start throwing your hard earned money around by buying things that you can live without.

Remember, if you cannot master your emotions you will never be able to control your money.

The common sense to becoming rich is not going out and buying expensive things. This is what all broke people are doing. Instead of using common sense they let their emotions guide them.

What the rich do is - they put their money to work for them. 

Now that is common sense.

Turn your money into your employee and send it out into the market to work for you.

This is where the third step comes into play.

3. Invest What You Can in Mutual Fund:

The sooner you learn to make your money work for you the faster you will become rich. You should learn the art of employing your money in such instruments where it is working for you even though you are not working.

Putting it in your savings account or in a Bank Fixed Deposit is not smart way to become rich.

When it comes to money, learn to be smart.

What you can start with is investing in Mutual Funds.

Even if you don’t want to invest your full salary, go for a small amount.

Now days there are lots of financial institutions and banks offering investment opportunities in Mutual Funds with as low as five hundred rupees per month. Go the SIP (Systematic Investment Plan) way. Here you decide to invest a certain fixed amount every month in the chosen Mutual Fund. This way you are putting your money to work even when you are sleeping.

The best part is that you can make your Mutual Fund investment Automatic. Just fill a form and instruct your bank to deduct the SIP amount every month from your savings account. All you need to do is ensure that you have enough money in your savings account to honour the SIP.

You will be receiving a monthly statement of your investment. You can now keep a track of how your money is performing and earning you profits.

Why I suggest Mutual Fund is because it’s a slow and steady way of growing your money and becoming rich. 

Don’t jump into investing in shares. Even though it’s lucrative you may burn your fingers and lose your money. I suggest not to get lured into schemes that offer you chances to earn quick money.

Remember, trees and money take time to grow. 

In Conclusion

Getting rich is simple but it is not easy.

What you require is skilful decision making, discipline of investing your money, and a lot of patience.

Think beyond what I have shared. You can think of ways to reduce your living expenses and then invest that savings in Mutual Funds.

As a beginner learn to take baby steps in managing and controlling your money.

Last, but not the least – ‘Work smart towards a life that your future self will thank you for.’

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