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Student life may seem like a dream – tons of socialising, living with friends, parties almost every night, with a little bit of studying mixed in every so often – but it can be a bit of an expensive dream.
Your student loan only goes so far, and if you want to avoid eating plain boiled rice for the last couple of weeks of every semester, you need to find a way to top it up.
Part time jobs are an obvious answer, but even they have their downsides. Jobs that fit in around your studies are highly sought after, and even if you manage to snag one it can be a real time sink, with little flexibility.
A side hustle is an awesome alternative, one that lets you work on it whenever you’ve got time, but that’s flexible enough not to get in the way of your life.
But not all side hustles are created equal, and some are much better suited to student life than others. The OddsMonkey team has rounded up some of the best student side hustles right here, to help you make an informed decision before you get started.
In our (admittedly slightly biased) opinion, Matched Betting is the best side hustle out there for anyone. You don’t need any existing skills, you can work on it whenever you like, and you barely need any money or equipment to get started – just a laptop or smartphone and a little available money, ideally at least £50.
So what exactly is Matched Betting? Well, the term refers to placing a bet both for and against a certain outcome (e.g. that a football team will win their next match) – literally matching your bet.
On a regular bet, this would result in you ending up breaking even, but because bookmakers will give away free bets all the time, it’s possible to use this technique to make a profit no matter the outcome of a match.
Hundreds of thousands of people in the UK have tried Matched Betting, and you can end up making regular profits of several hundred pounds every month – more than enough for a student to keep the takeaways coming and the beer flowing.
To find out more about how Matched Betting works, take a look at the OddsMonkey beginner’s guide, which talks you through all you need to know. Then you’ll be ready to sign up for a free trial, where you can make your first £40 in profit.
If you’ve got a car with you at uni, using it for your side hustle is an obvious choice. Sign up to be a driver for Deliveroo or Just Eat and you’ll be able to work whenever you’ve got time.
Alternatively, you could become a self-employed delivery driver for companies like Amazon or Evri, which usually allow you to set your own schedule according to what works best around your studies.
You should be aware that pay isn’t brilliant for any of these companies, but the work is reliable and, if you like driving, you might even find it enjoyable.
Another side hustle particularly well-suited to students is tutoring. You’ve got a wealth of knowledge and experience in your degree subject, and the chances are that younger students, or much younger kids, will appreciate your help.
Some subjects are particularly sought after, for example in foreign languages, English and Maths, but it’s definitely worth investigating the possibility of offering tuition no matter your field of expertise.
You can also look at setting yourself up as an online tutor, through a service such as MyTutor or Tutorful, both of which help you to find clients while ensuring that matters of scheduling and payments are fair to all parties involved.
For the wordsmiths out there, freelance writing is a fantastic choice for a side hustle. There are lots of types of writing you can try out, including blog and content writing, copywriting and ghost writing.
Freelance sites like UpWork and Fiverr regularly post jobs for freelance writers to take on, which you can complete at a time that suits you, so long as you hit the agreed deadline.
When you first get started, you’ll probably have to agree to pretty low rates to secure your first few jobs, as you won’t yet have built up a portfolio or reputation. But once you’re established you can increase your rates, and freelance writing can become a very lucrative side hustle.
This isn’t quite so regular a source of income as many other side hustles, but the work can be very varied and the pay is often pretty good.
Your university is likely to host regular events, including talks and lectures, which require ad hoc staff including stewards and bar staff. Working at these events usually pays relatively well for the type of work, and you’ll get a great view of the event in question.
For anyone with an interest in film or TV, being a regular extra in productions can be a fantastic side hustle. The work won’t be regular, but you’ll get to experience film sets, spot famous extras and get paid for your time.
The best way to get started is to sign up to an agency, such as Universal Extras – which offers free registration for students. All you need to do is upload proof of your student status and you’ll be listed with them totally free of charge.
Taking part in consumer research can be surprisingly profitable, although it’s not the sort of work you can rely on. However, every so often you’ll be able to take part in a project or join a focus group, and give your opinions. You don’t need any experience – in fact, the less experienced you are the better!
The benefit of this sort of side hustle is that it’s particularly well paid, with researchers often paying £30 – £50 an hour, or even more. The downside is that they’re looking for what they call ‘naive’ participants, who aren’t too accustomed to taking part in research, meaning you won’t be able to take part in projects all that often.
If you already craft as a hobby, you might well have thought about selling your work, but been intimidated by the prospect of getting started.
Fortunately, it’s actually pretty easy to get going. Etsy is one of the best places for crafters to sell their work. It’s quick and easy to set up an Etsy shop, and then all you need to do is list your items to be up and running.
It’s important to be aware that crafting isn’t generally highly paid, and you might find that your rate of pay falls below minimum wage when you take into account the cost of materials and the amount of time it takes to create your items for sale.
However, if you’d be crafting as a hobby either way, selling your creations can at the very least help to finance your wool or paint habit.
As a student with few responsibilities, you’re uniquely well suited to a side hustle like house sitting or pet sitting. With no children or pets of your own to take care of, there’s nothing to prevent you from spending a few days in someone else’s home, keeping it safe and keeping your clients’ beloved furry friends fed and happy.
You can sign up to online agencies, which will display your profile to people in your area in search of a house or pet sitter. You’ll need to be able to commit to the days and times needed by your client, but you can always turn down a job if you don’t think you’ll have time for it, so this is a side hustle that can work well around your studies.
If you’re a social media addict, affiliate marketing as a student is an obvious choice of side hustle. You can harness your following by partnering with companies to promote their products, and earning commission for any sales made through you.
You’ll generally need a good platform of some sort, whether that’s your Instagram account, a successful YouTube channel or a well-followed blog, but if that’s the case you’re likely to find success with affiliate marketing.
Sadly, a successful side hustle means you’ll have to think about paying tax. You can make up to £1000 from a side hustle in the UK without having to worry – but past that point you’ll need to submit a self-assessment tax return and pay tax on your earnings.
Matched Betting is a notable exception to this, however – as it’s classed as gambling for tax purposes (despite not really being gambling at all), you don’t have to pay any tax whatsoever on your profits, meaning you keep all your earnings for yourself.
It’s important not to get carried away with your side hustle to the point that it takes up more time than you have to spare. You’re at university to get a degree, and that means that your studies should be your first priority.
Make sure you allow yourself plenty of time for studying and, if necessary, scale back your side hustle if it threatens to take over your life.
Your university will have tons of information and assistance available to you, and you should definitely take advantage of it. Students can access dedicated services to help them set up their own small businesses, which covers a large range of side hustles. Take a look at what’s on offer as you get started, and don’t be afraid to make use of it.
There’s no shortage of side hustles suited to a student lifestyle – all you have to do is pick your favourite! Whether you plan to become a pet sitter, sell handmade crafts or take up Matched Betting, you’ve got all the information you need to get going – so don’t hang around, the best time to start is right now!
*DISCLAIMER: We’re legally required to state that there is no guarantee of specific results each month. The amount of money that you earn can vary dependant on the time and effort that you commit each month.
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