Become your own bank
'Peer-to-peer' lending is the future of banking. It cuts out the middle-man, passing on higher interest rates to you and cheaper loans to borrowers. And it's all managed online from the comfort of your sofa.Founded in 2009, RateSetter was the first to reimburse lenders on late payments or defaults through its 'Provision Fund'. Effectively it is designed to be like a normal savings account. To date RateSetter say no investors have ever lost money, and they are fully FCA regulated.Right now you can expect to achieve up to 5% fixed return, depending on how long you choose to lend for. If you can, go for the ISA account to earn interest tax-free.There's no fee to withdraw your money from RateSetter, unless you lock into a 1 or 5 year higher fixed interest rate where the early withdrawal fee is 0.3% and 1.5% respectively.Update: for a limited time also get this £100 bonus when you invest £1,000 for a year.Work as a charity collector
Ok, so this job takes a certain kind of person, as you'll have to take a lot of rejection and be persistent.But if you are bubbly, personable and reckon you could sell ice to an Eskimo then this could actually be a great student money making idea. You get paid commission on new sign ups (typically around £20).Rent out your house for filming
Directors for TV and film are always on the hunt for houses to film in. For instance, a scene for Coronation Street was recently filmed in the student house one of the Save the Student editors used to live in!Not only can you make good money but it's crazy seeing your own place on TV. Start out by looking at this site.Rent out your body
If you are comfortable taking off your kit then why not try life modelling. Sit there in the buff while budding artists capture your every curve (or pokey bits) in frightening detail! Try RAM, a website especially designed for these kind of jobs.
You could also get involved in clinical drug trials, but be sure you fully appreciate any risks attached.Warning: Do not do anything you are not comfortable with, no matter how desperate you are for money!Freelance work
Perhaps you enjoy writing, managing Facebook pages or doing a little bit of graphic design in your spare time. There are so many freelance jobs out there that require simple skills or just time that someone else might not have.And the best thing about freelancing is that you can work for clients in the UK and around the world with just an internet connection from home, to your own hours whilst developing valuable skills.A great place to start is with the leading freelance site Upwork.com. Or try using our student job search to find freelance jobs closer to home.Sell clothes on eBay
Everyone's best friend when it comes to getting rid of junk is eBay. Online auctions are a sure-fire way to turn that sleeveless jacket (which came in and out of fashion in a week) into hard cash.
Some eBay sellers look at trends and try to predict what will be big ahead of the market. If you are good and don't mind taking a risk then you can buy early in bulk and sell on when the craze hits.For lots more tips on selling on eBay read this guide.Sell your stories and videos
If you have an interesting story then you could try selling it to the papers. It could be anything from sleeping with a professional footballer to getting caught in a clothes horse!One of the Save the Student team was unfortunate enough to have a pigeon fly through and smash their window at university and sold the story to The Sun for a tidy £50.You could also film your mates at all times and send it into You've Been Framed to net yourself £250 and a few seconds of fame.YouTube videos
According to recent stats we now watch more videos on YouTube than searches on Google. And with the recently introduced YouTube Partner Program you can now profit from making and uploading videos. You will receive a percentage of the advertising revenue collected per 1,000 views.Depending on how successful you are (virality, subscriber base and topic) you can make a lot of money, and there are plenty of stories every week of more and more YouTubers making it their career.For more tips read our guide to making money from YouTube.Network marketing
Also known as Multi-Level Marketing (MLM), this is a business model that allows you to generate ongoing income in two ways: by making a commission selling products and by recruiting other members who go on to sell. The latter allows you to make money from the sales made by those you have recruited.
Importantly, this is not a pyramid scheme (they are illegal) because there is an end goal which involves a customer buying a product or service of value.It's also not a 'get rich quick' scheme. You will have to work I'm afraid! However with the growth of social media, network marketing is becoming easier and lots of people are now making a decent living from it.This is a serious way of making good money on your own terms and it's well worth reading up on it. I recommend getting "The Business of the 21st Century" by Robert Kiyosaki.Source property for wealthy investors
We all know how much money there is in property, but on the surface (with house prices as high as they are) you might be thinking this market is off-limits.
Truth is, lots of people make a great deal of cash simply sourcing suitable properties for wealthy investors who simply have no time.The trick is to find properties below market value (BMV) by avoiding estate agents and instead flyering your area with your contact details offering to buy houses. Then approach investors with a no-brainer offer to pass on the details of cut-price property in exchange for a % of the sale value.Most cities will have monthly networking events for landlords and property investors. Track these down, sign up, put on your best suit and go along with lots of business cards. Or you could start on LinkedIn or even Twitter to build some initial contacts.As you might imagine, this isn't necessarily a quick way to make money but once you've got a few investors in your phone book it can prove to be very lucrative in the long run. If you're interested, I recommend reading this book.
Monday, November 11, 2019
10 Easy ways to make money quickly (Part 3)
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