University fees today are astronomically expensive, with most universities in the UK now charging just shy of £10,000 per year – for three to four years – it’s a significant investment that is worth considering almost like a business investment.
See, an entrepreneur would look to see what return they were getting on their investment, as in the case of getting a degree in a relatively broad subject area there’s a question as to the value this will create for you. Admittedly, having a degree does open a number of doors and there’s a certain stigma associated with not having a degree in terms of employers; but just consider what else you could do with that £30k – £40k.
Imagine the return on investment you would get if you were to invest this amount in property, for instance, as being on the other side of the landlord-student relationship can be incredibly profitable especially when it comes to student accommodation London, that said there are always ways to be resourceful, for instance, you could rent a three-bedroom house, have a long-term tenant in one room that pays half the rent and use the other room for hosting people on AirBnB. This is a great way to make passive income, but you’ll want to be sure your landlord doesn’t mind – as in most tenancy agreements subletting in this way would be grounds for eviction.
The point is, that university really does cost a lot of money – and it’s worth considering whether you’re truly getting £30k – £40k’s worth of value from the investment you’re making. At first, it can feel like you’re actually ‘making money’ as you get given a student loan paid directly into your bank account – for doing, basically, nothing – but it all adds up, and after four years of university many young people today will come out with student loan debt in excess of £60,000!
Even if we were to put the tuition fees to one side, university living is expensive as you still have rent, living expenses, travel costs and a variety of social expenditures to consider – but most importantly, being a student limits your ability to earn money, aside from your student loan, which can put a real strain on people’s finances.
For this reason, we’re going to look at three ways you can make money whilst being a student in ways that don’t take up too much of your time.
- SELL ITEMS
Many people offer their preloved items at very cheap prices as they just want to make space. This is a great opportunity to upcycle these items and relist them on sites like eBay, or better still, find people that are looking for something in particular then scour eBay to find the item, and sell it to the person at a profit.
Babysitting can be surprisingly easy money, particularly if you’re looking after children in the evening when kids are fast asleep. This way, you can literally be paid to study, as whilst the children are asleep upstairs you can use this time to focus on coursework.
- MOW LAWNS
Did you know that you can charge between £15 and £30 to mow someone’s lawn, and given the fact that in a weekend, you can probably get through ten laws, that amounts to £150 to £300 for a weekend’s work.
‘ This is a collaborative post.