For most college students, not only do you have to take up massive student loans, but you’ll also need reserves to live.
With total amount of outstanding student loans reaching about 1.41 trillion dollars in 2019, it’s not a bad idea to generate some passive income.
Learning how to make extra money in college can not only free up your cash flow, but hopefully reduce your student loans along the way.
I understand, most college students are too occupied by school work… (there’s always time, you just have to make time).
Most of my college friends spend lots of time outside of regular school activities such as frat parties.
If you have time to party, then you’ll have time to make money.
With that being said, I’m not going to talk about the usual methods of making money such as part time jobs.
And no, this is not going to be a get-rich-quick scheme.
Instead, I’m going to go over what you can do at the comfort of your home or dormitory.
Affiliate Marketing For College Students
We’re currently living in an era where shopping online is the normal thing to do. Especially for those who are not in dire need of something.
Then again… most companies do offer same-day or next-day shipping…
Selling online is a great way to generate income. But as a college student, you probably don’t have expendable income to purchase merchandise in large quantities to sell.
And that’s where affiliate marketing comes in…
According to Oberlo, an estimated 1.8 billion people worldwide purchase goods online.
As an affiliate marketing, you don’t have to purchase goods to sell or stock inventory.
Your job is to recommend and promote products using affiliate links (you’ll get an unique link once you’re approved by a vendor).
When someone clicks on your links and buys, you’ll earn a commission!
Most people don’t know this, but you’ve probably used an affiliate link before when making a purchase online.
After spending half of my career in sales, I realized most consumers conduct research before buy something.
Your objective as an affiliate marketer is to have a solid foundation (your website) and writing quality content designed to help your targeted audience (niche).
For example, let’s say your website is about losing weight. You want to have articles that address issues and providing solutions to losing weight.
How To Choose A Niche For Your Website
As a college student, you can try choosing a niche that relates to your major. I’ll use medical as an example.
You don’t want to choose a general topic. Instead, you want to narrow it down and be more specific.
It’s easier to build authority that way when you’re not a jack of all trades.
Let’s take a look at some benefits for choosing a niche that relates to your niche:
- You can use your website as a study tool because you’re going to be researching and applying what you’ve learned at school when writing content.
- You can build a brand online that’s going to help you build trust and credibility in your future career.
- You can likely earn a full-time income through your website, so you can still do what you have a passion for while working from home.
However, you don’t have to choose a niche that is related to your major. As a matter of fact, you can create a website that is totally irrelevant to what your major is.
It’s up to you!
What’s The Catch?
Remember in the beginning of this article, I mentioned that this is not a get-rich-quick scheme?
I’m not kidding… because you won’t get rich overnight…
Affiliate marketing will require hard work and dedication…
Don’t feel discouraged though because how many years do you have to be in school for before you can actually earn money?
Did the founder of Facebook, Apple, Microsoft achieve success overnight? Absolutely not!
Before we proceed, there are lots of scammers online that gives false promises such as earning $500/per week within 30 days with little to no effort.
When it sounds too good to be true! It usually is… so I recommend learning how to identify these scammers.
The programs and platforms that I recommend in my free guide on how to start a blog for affiliate marketing today, actually contains a platform that is free to join.
However, you can’t start a business without cost. That’s just unrealistic. So I’m going to spill it here…
There will be things that you will need to pay for down the road… It won’t cost you thousands, but it can cost you hundreds.
But if you put things into perspective, how much are you spending to go to college?
To me, whatever I spend on my website is not just spendings. It’s an investment in myself.
Before you get started, I want to clarify the following if you want to try affiliate marketing:
- You will be spending time on the computer regularly.
- You will have to sacrifice some personal time (parties, hanging out with friends, going to the bar, etc).
- You’re probably not going to make any money during your first year of affiliate marketing. (it takes time to grow an audience base).
- If your website becomes successful, you will likely have to write new quality content for as long as you want to make money with your website.
- Your friends will think you have no life.
- Depending on your niche, it can be highly competitive, so it requires more time and effort.
- Your effort decides how long it takes to succeed.— Procrastinate too much and not putting in the effort can result in failure.
- You will have to put in a lot of time and energy at first to get started.
Affiliate marketing is definitely not a walk in the park, but there are some great benefits if you put in the effort and strive for success:
- You can make money from the comfort of your home or anywhere as long as you have access to the internet.
- You can spend more time with friends and family once your website is established. While others have to go to work.
- You can make money while being on vacation because you are not restricted to working at a specific location.
- You can make money while sleeping! Your online business is going to run itself 24 hours a day, 7 days a week.
- You don’t have to answer to an employer because you are truly your own boss.
- You are not restricted to what your employer is willing to pay you. The more effort you put in, the more money you can make.
- There are people who earn 6 to 7 figures annually doing affiliate marketing.
- Affiliate marketing is one of the most cost-effective ways to run an online business.
My Recommended Platform
Can’t bother reading my free guide? That’s okay!
You can get a taste of affiliate marketing by signing up for Wealthy Affiliate.
It offers 2 free subdomain websites as well as certification courses to help you succeed.
You don’t need prior knowledge of internet marketing because you will learn how to become one with their certification course with video training.
You can also refer back to my website because I update this blog regularly with new content to help you become a force to be reckon with in the industry of affiliate marketing.
Thanks For Reading!
Besides becoming an affiliate marketer, you can always find a part-time job. However, a part-time job means you will have less time to study and the pay is not going to be great.
I don’t know about you, but that sounds counter-productive to me.
Working a part-time job that pays you barely enough and potentially holds you back from being successful in school.
Did you find this article helpful? I hope this will help you make extra money in college.
If you have any questions, feel free to leave a comment down below and I will try my best to help you out.