How to Make Money before Going to College
April 7, 2017
College is an unforgettable time in any young person’s life, and while you leave with a qualification and clarity on your career, you are also likely to leave with a hefty student loan that you need to pay off. Knowing that you are going to take on such a large debt before you even start working can be daunting, but it also gives you ample time to save as much money as possible to cover your costs. Here’s how to get money before you go to college so that you don’t graduate with tons of debt.
Become a Tutor
If you are considering college, then chances are you are doing well enough academically to teach and tutor younger students. Running after-hours classes at your school library or even your house is a great way to make extra money, plus it is an impressive addition to your college application form. If you aren’t sure how to get started, then look for a tutoring service in your area, and apply to become a part of their tutoring team. All that practice might even help you with your SATs.
Most children receive an allowance or money as birthday or holiday gifts. The standard response is to rush out and buy that toy or spend it on a new outfit. But investing any amount of money over a long enough timeframe will reap rewards.
If you start saving in your freshman year, you can earn significant returns that can help cover basic costs or can be reinvested to earn compound interest. Even though this calls for you to have money to invest in the first place, it is a smart way to grow your wealth before going to college.
Hold a College Clear Out Sale
Going to college represents a significant milestone as children move on to become adults. This means that it’s time to leave the comforts and clutter of home behind, and start fresh.
Leaving high school is the ideal time to clear out your bedroom and sell all the stuff that you don’t need anymore. From sports equipment and textbooks to old clothes and collectibles, holding a garage sale is a great way to clear out and make some much-needed money.
Skip Spring Break
You will need to make sacrifices to make money before you go to college, and one ritual that you can skip if you’re looking to save is spring break.
While this rite of passage may be tempting, it is also very expensive. Travel, food, and accommodation add up. If you’re serious about saving and making money for college, skip this party and use the break to earn money doing any jobs that you can. There will be plenty of parties in college and it’s best not to not have money when they come around.
Ask for Help
A lot of high school children ask their parents for new phones, cars, or lavish birthday parties. The easiest way to make money before you go to college is to ask for it. Set up an account when you’re in high school and encourage your family to make deposits for your birthday, or over the holidays. You will be surprised at people’s generosity, and if you start early this little investment could go a long way when you finally need it.
Do What It Takes
Whether you take work on Fiverr, work at your parents’ shop or sell artwork on the corner, the essential point is that being committed to making money before college will pay off. Play to your strengths and push people to help you – they will respond because you’re helping yourself.