Clever Ways of Making Passive Income While Studying

Jenny Holt provides another useful guide to making income as a student passively 

If there is one thing that is often in short supply for a student, it is money. Students can’t have enough. College or university fees are both expensive and so is the lifestyle. Making money while studying is one of the hacks of getting through further education comfortably. There are many things that a student could do, but we’re only looking at those that can be automated to save time.

Drop-Shipping

Drop-shipping refers to the practice of sourcing manufacturers, listing their product on an e-commerce store such as Amazon or Shopify, getting paying customers, then using that money to buy from the manufacturer and ship directly to the end user. Drop-shipping requires that the student sets up a website and an e-commerce store. The other important component is getting a reliable supplier. The whole process can be automated through software such as Orbelo. Drop-shipping does not require the student to raise money for stock since he or she only buys from the manufacturer when a sale has been made to the end user. A well-designed store in a profitable niche can keep earning money for years without a need for the everyday involvement of the owner.

Software-Powered Social media management

Students are tech savvy, especially when utilising trendy social media platforms. Snapchat has recently started gaining traction, but there are hundreds of companies that are not yet aware of it or how it should be used. While there are big social media management companies, you can beat them on price and exclusivity. You only need one good client to make money. This approach to making money, suits students who can generate content for the software to post at the set time.

Writing for Amazon

E-books have changed the way people interact with published works. An e-book is essentially an electronic file which is distributed across the Internet, and eliminates the costs associated with printing. Amazon provides a ready market for the writer to display his or her work. A student can write a 30-page book in two weeks and put it out on Amazon. That book can potentially earn money for life because every sale costs nothing in terms of production costs. The only costs that might be considered are advertising costs on Facebook or any other platform that the student might choose to use for capturing potential buyers.