Introduction

Making money means getting paid for your time, skills, savings, or resources. This is a key part of personal finance. It helps you become financially independent and meet your needs or follow your dreams. As today’s era and conditions tell earning money is a must for everyone even for students.
College life is often seen as fun and easy, but it can be more than that. You can earn money while you study. Most students don’t have the time or special skills for a regular 9 to 5 job. So, we will explore ways to make money that don’t require much time or special knowledge.

Throughout this book, we will see why starting early is important. Many people wait until they graduate to think about making money. However, even small efforts now can help you build the determination needed to succeed in business later.

How Does Active Income Differ From Passive Income?

Active income means you need to be present and working. The most common example is a salary you earn by using your time and skills. If you stop working for any reason, your active income stops right away.

You can start earning money from an active source right away. It depends on your job, but you get paid every week or month. But as you stop working due to illness or other issues, your earnings will stop coming to you. It’s hard when you need money urgently.

Passive income On the other hand, passive income is easier to manage. It takes a one-time effort to set it up, but it brings you money with little continuous work. For most people, earning money while you sleep is like a dream come true. This is the only way to achieve financial freedom.

Common sources of passive incomes :

The worth of living is continuously peaking worldwide. For example, in 2022, student loan debt in the US hit $1.75 trillion, with average borrowing at $28,950. It highlights the conditions students face in their studies. The rise in tuition fees and other expenses is too much to handle for parents alone. As a student, your position is good to minimize this burden with easy passive online earning.

Some reasons why one will choose this method :

Providing Maintainance:

Leaving home as a student makes you know how hard it is to manage daily expenses. Even if your parents are covering essentials you still need extra money to fulfill other expenses. Even with using smartly designed strategies for less expenses, you don’t have enough resources. But a smaller amount of passive income makes a good place in your pocket and allows you to buy resources.

Make Out of Debt:

Having continuous funds allows you to decrease student loans. But even you can avoid student loans and pay your fees easily. When you work on repaying loans you will soon know that student loans are not free money. You have to repay all those loans along with the interest accumulated with actual money.

How You Feel About Money:

When you feel about money and change of life with age in student life you come to a phase where you will become independent. As people think it’s freedom but it’s not. It’s an important phase that every person faces in his/her life but money course makes it different from all of them.