College students come in all shapes and sizes, and with different budgets. Some college students have plenty of money. Most students, however, need extra monthly cash for everyday expenses and miscellaneous extras not covered by scholarships, grants, financial aid, or parent assistance.
Start a Budget
It's time to start budgeting. You don't need any fancy software. A simple Excel spreadsheet will do -- or even a handy-dandy notebook (sorry for the Blue's Clues reference).
Write down your monthly expenses (car insurance, gas, regular spending, bills not covered by mom or dad, etc.) as well as your financial goals (an upcoming weekend getaway, a new car, an XBOX 360, whatever). Be specific.
Then, write down how much money you have coming in, whether it be from parent support, a current job, savings, etc. Determine exactly how much money you need to close the gap between what you will need (to match your expenses and goals) and how much you have coming in already.
Brainstorm Money-Making Ideas
At this point, most students simply start looking for a job. Before you do that, take some time to step back and look at the big picture. Brainstorm some money-making ideas. What are your interests? What are your strengths and weaknesses? For instance, your strengths may include special skills and/or knowledge in writing, web design, computer repair, landscaping, etc. Make a list of the things you are good at - and that you don't mind doing.
Then ask yourself what needs (if any) you see in the marketplace. Understand that the economy is all about supply-and-demand. So, ask yourself...What can YOU supply that is in demand? Basically, you're trying to match your strengths, talents, skills with the needs of the marketplace. This is how you need to think with respect to your major and your career. You might as well get in the habit now -- starting even (if possible) in your freshman year of college.
Here's an example...Just about every college student has a computer. If you're good with computer trouble-shooting and repair, why not offer your services as an on-call computer troubleshooter and repair guy? You could go solo, partner with a couple other students, or approach a computer repair shop in the city or town -- and offer to be their "go-to" guy on campus.
Another possibility is to offer to mow lawns, rake leaves, or shovel snow in residential neighborhoods surrounding the campus. Are you good with drywalling or deck building or basic carpentry? If so, consider offering those services to the residential neighborhoods. You could also baby sit, elder sit, or house sit.
Are you willing or able to become a clown, balloon artist, juggler, or performer? If so, you could entertain at kids' birthday parties, church events, etc. or offer your services as a birthday delivery person.
The sky's the limit. Keep brainstorming. Don't limit yourself to simply getting a job, although that is also an option for you.
Great Jobs for College Students
If you choose the job route, head to the Career Center and look for paid internships that match your major and/or career interests. You should also inquire about the Federal Work-Study Program. Talk with a counselor in the Career Center. Let her help you through the job search process.
Next, look for jobs on campus or in the community that will allow you some time to study. Security officers, desk attendants, etc. are possibilities.
If all else fails, and you must grab a job that doesn't excite you, there's no shame in doing so. But don't let yourself get mentally trapped in such a position. Do your best, learn what you can from it, and keep an eye out for other opportunities.
Making money is actually quite simple. As we've seen, it's a process of establishing your needs and wants via a budget. This makes your goals clear. Then, brainstorm money-making possibilities -- trying to match your strengths with the needs and wants of the marketplace. And take advantage of your university's Career Services Center. See what resources or advice they can provide.
Last of all....don't forget to have fun. It's college. Enjoy yourself as you learn. Good luck!
