If you are like most college student’s, then you probably don’t have
Knowing the difference between an Asset and a liability
Before I start giving you ways of making money. I would like to first give you a good financial foundation so that you might never be broke again.
Do not skip over this section. Doing so may just put you in the same exact position that you are currently in now. You might not ever learn this in school.
An asset is anything that generates income. This might be a business or skill that you may learn or build, that can generate income. However, a liability is the exact opposite. A liability is anything that doesn’t produce income but has a cost associated with it.
For example, a car may be seen as an asset but is in fact, a liability. There is a cost to have and maintain a car. You may need it for transportation, but it does not generate you income.
The majority of college students have very little income consistently, this is unless they have a job. But a job is only a single stream of income. You might not ever get more but you may not get less either.
For my friend Justin, this is what his cash flow looks like.Yes he agree’s that money could be saved, but Justin doesn’t really feel a need to.
With jobs, your income is limited and you will be trading your valuable time, for money. The more hours that you work, the more money that you will make and vice-versa.
Maybe your parents help you and maybe they don’t. It’s important to know how much you bring in and what exactly you spend it on.
If there is money left over, like the $100 Justin does. Then you are able to save that money and invest it into something that might give you a greater return.
It’s the same reason that we go to school in the first place. But this is the more rewarding way of going through it (in my opinion). I’m not saying college is bad, I’m saying that it is not the only way to make money and accomplish the things that you want to in life
“Why not use that money to build a business, hustle, or skill that you can’t really learn in college? “
“You are capable of so much more than you think”
I’m no longer a college student as of August of 2018 because I dropped out and here’s why. But it goes to show what you can do with your money when you make it work for you. This only took me 6 months to do and anyone can do what I have done. It will require time and patience.
What I’m getting at here is, that assets will work for you. Without you needing to trade all of your time for it. This is why it is great to create assets for yourself while you are young, so you don’t have to spend all your life working if you don’t want to.
What would you do?
What if you didn’t have to work so much. What else would you do with your time? What might you not do?
For me, this gave me more freedom to put time into things that I really loved to do and allowed me to go places that I wanted to go. This journey, if your willing to take it, will be hard at first. However, it will get easier over time and will become very rewarding.
Creating your assets
One of the best places to build assets are on the internet. The internet gives you access to awesome opportunities build and grow assets. One way would be creating an online store.
Build an online store
Drop shipping is a business model that allows you to sell products
There are a lot of people doing this and there is a lot of information out there. I break down a lot of, what I learned down on my post about Shopify >> here.
In that post, I give you everything you need to succeed with your own store. There is a learning curve, but if a 16-year old kid can build a 6-figure dropshipping business. Then any college student can as well. (check out tanner planes out on YouTube)
Sell stuff on eBay
One of my most fun assets to build was on eBay. eBay allows you to almost sell anything online with ease. Got phones and electronics? Why not sell what you’re not using on eBay? This goes for other people stuff as well.
What if you told you, you could get brand new products for almost for free to sell on eBay? I have been using this method since high school to get free headphones, earbuds, and speakers.
It was not until later when I was in college that I discovered it was an easy way to make money as well. I’m talking $400+ more in a month, even a few $100+ days.
I call it the “Warranty recycling” . I discovered that Skullcandy has a pretty good warranty system. I I’m doing is:
- Buying broken Skullcandy products from eBay
- Warranting those products
- Use coupons to buy new products
- Sell those products on eBay
Build a affiliate marking business
Affiliate marking is was one of the biggest opportunities that most people never see. Rather than spending a lot
There is an unlimited amount of products that you are able to promote. And unlike a job, there is no cap to how much income that you can generate. You can use
There are a plethora of ways that you can build a business with affiliate marking. One of the ways that I do this is by building websites and generating traffic to it.
Imagine, by the time you graduate, that you were already making as much money with your own business part-time. Than working a full time job. That would be difficult for your parents and peers comprehend.
The best part about affiliate marketing is that you can start for free and build your own website today. Follow my guide >> here, to get started today!
Sell your services
Not only have I marketed Affiliate offers, but I also have sold my services to other people.
My first client wanted me to build his website and to gain a bigger internet presence on social media. Both of which I had learned from building my own businesses. He paid me $500 cash for the work.
You are the only thing that is holding you back.
Anyone with a computer and internet access can do this. And a lot of what you learn, many people are completely unaware of. But through experience, you can totally leverage all that you learn and turn it into cash.
The only difference is, you do not have to get a degree to do any of this.
Words of wisdom
You life will end up based on the choices that you make. We have to say no to some things in the short them to get the life we want, in the long term.
It’s really hard to start at first, but when you get into the habit of thinking long term. Life will get much easie
This philosophy has really helped me change my mindset when I first set out on this journey. Change starts from within, so if you can’t even change your thoughts or habits. How do you think you will be able to change your income?
I sincerely hope that my website helps you and that you go from being broke a college student to become a ninja in your own right.
Check out my about me page if want to learn more about my website. All I ask in return is that you help someone else in return. Who else do you think needs to see this?