As a student I truly know how difficult it is to earn money. A part-time job is the obvious a first choice because it provides a pretty steady flow of income and students can gain valuable work experience (savethestudent.org, 2016). However, jobs are not always easy to find, taking into account that people have to study at the same time and the time is limited. I tried to work last year at the same time, when I was in school approximately 15 hours in a retail business, but it wasn’t definitely my cup of tea. I had so long working hours that I didn’t have time to focus on schoolwork. Then I realized that I could try to get income in different ways. Here’s a few ways to earn and also save money as a student.
This first tip is about selling something that you own. It can be for example clothes, accessories, course books or decoration stuff. I have earned income during study by selling my old clothes and accessories that I haven’t used for a long time. It’s very easy to sell old items for instance in Facebook flea market groups. Moreover, there are also specific groups for buying and selling stuff. For example, there are groups where you can only sell cosmetics or groups where people want to sell only clothes. That way you can find a huge amount of people who are interested to buy and sell the same kind of items that you are willing to sell. However, when it’s about a flea market, it’s extremely important to think the price for the item. In a flea market, the price should be much lower than it was when buying the item.
There are also many sites where you can pursue selling your hand-made items. In Finland´s largest network platform Tori.fi was visited by about 1.3 million visitors each month in the year 2013 (Marmai.fi, 2014). Tori.fi allows you to sell your handmade items. It’s definitely a great way to also pursue your talent and get more publicity for your work. There are also sites where you can start your own online store. On the other hand, this may not be the cheapest option, but despite that there are also sites where you can try online store for free in two weeks’ time, for example Mycashflow.fi. It’s a domestic online store software which includes already all the most important marketing and sales promotion tools. After two weeks’ trial it’s possible to decide whether to continue business with a chargeable option.
However, when earning money, it’s also extremely important to save something for the future. Some day you may want to buy an apartment which acquires a lot of capital. At the age of 18, I graduated from the gymnasium. As a gift I got a lots of money and I felt that I really need to put them aside before I waste them for good. I started to save money on ASP-account which allows to get statutory interest on savings. ASP-account is available for 15-39 year-olds and on the ASP-account it’s possible to deposit 150-3000 euros per quarter of year. Quarters don’t have to be consecutive and it’s possible to skip quarters according to the situation. A year the account can accrue 600-12000 euros. When the ASP-conditions are fulfilled the interest rate and additional interest on deposits are tax-free (Op.fi, 2016).
Furthermore, a student loan is an option which allows to save and earn at the same time. Applying for a student loan has been made easy on the internet. When receiving a loan guarantee from Kela, it’s possible to fill in a student loan application. The states will give a guarantee for all the students and other collateral is not needed. Student loan repayment will begin after two years the end of study. Of course it’s also possible to pay back the loan earlier. If the student has started the first year in academic degree after 1.8.2014 they will get student loan rebate of 40 percent requiring that all the courses have been completed within the time limit (Op.fi, 2016).
I have been watching the TV program called “Who wants to be a millionaire?”. It’s originally a British format but now they have made a Finnish game show based on that. I have taken a notice that with a good common knowledge you can earn at least 300 euros. That doesn’t sound so hard, but actually getting to the program must be the hardest part. I have been there as a member of a studio audience and I thought that why I’m not one of the players. If those student players in that game can make at least 300 euros and more why not to give it a shot for yourself! Why to struggle with the working hours, when you can earn lots of money in the game and also have a lifetime experience meeting Jaajo Linnonmaa a Finnish radio celebrity and a host. Of course you can meet Jaajo Linnonmaa in his hometown in a retail store but then you don’t have a chance to win 300 euros. Though, meeting Jaajo would be actually a lottery itself!