3 Ways to Make More Money on the Side When You’re in Your First Job After College
Entering the big wide world of work after graduation is exciting, but it comes with its own set of issues and challenges, one of which is the reality that entry level jobs don’t pay well, and living costs are climbing higher by the year.
That means lots of graduates pick up side hustles to go along with their first post-college job to make ends meet. There are lots of options out there, so here are some money-making opportunities to consider grasping if you’re in this position.
Sell Your Skills and Services: You Have the Talent, So Use It!
During your studies you’ll have built up valuable time management skills and experiences that can be monetized once you’ve attained your degree. You just need to think about ways that you can use these to make extra money on the side that are relevant to your abilities.
For example, if you are creative or artistic, then consider selling art prints online or offering design services such as website building or logo creation.
If you’re tech-savvy, why not offer technical support to people in the local area, fixing up their computer woes for a fee? Or perhaps tutoring is more up your street? Tutors can earn very good rates for their knowledge and experience, so it may be worth looking into this option further.
Freelancing Opportunities to Help Supplement Your Income
Another option to make some extra money is through formalized freelance work. There are many websites out there where freelancers can offer their services, such as Upwork and Fiverr, and the range of opportunities is extensive, from video editing and audio mixing to translation, coding and everything in between.
The problem with using third party services is that they all take a cut of what you make on your freelance gigs. So you may also want to look into creating your own website or blog if you have particular expertise that could help others solve problems or provide advice. This is a great way of promoting your skillset and building up experience, which will come in handy when applying for future jobs, and will also let you win clients directly, so you get the full amount of each commission.
Options for Reducing Your Expenditure Instead, e.g Student Loan Forgiveness
The problem with side hustles is that they eat into your free time, which you might have a limited amount of when you’re focused on your first full time role after college. However, there are ways you can free up more money from your budget by reducing what you’re shelling out each month.
For example, getting help with loan forgiveness could drive down or completely eliminate your student loan repayments, which are a major burden on many graduates.
Additionally, look out for special deals when shopping, and try cutting back on unnecessary purchases like meals out or expensive coffees every morning. These small changes can make all the difference.
Finally, it’s always worth looking into cheaper alternatives for the essentials you buy, such as choosing generic brands which are often virtually identical to named brands, at a fraction of the price. This way you won’t need to compromise quality, while still staying within your budget.
Final Thoughts
Having a little money in your pocket from your first paycheck is an intoxicating feeling, and it’s even better if you’re using a side hustle to bolster what you take home month by month. But the crucial point to take onboard is that it’s better to live within your means and get used to managing your finances responsibly at this early stage, regardless of your income.
