The Young Money Club

In this post I will outline a few of the easiest ways college students can create passive income. Most of these ideas will be primarily low start-up cost ideas, that don’t require you to have thousands of dollars on had to set up.

As a college student myself, I understand the lack of time outside of class for a regular job. Especially for those of us who participate in extra-curriculars like clubs or sports. Or similarly, those who don’t do either and would just rather spend their time creating another real, long-term stream of income.

Hop Online

The internet is a vast ocean of information and opportunity for those who know how to navigate it. But similar to the ocean it can be very easy to get sucked in and forgotten.

With all the internet gurus now pushing their online courses it can be hard to separate fact from fiction. But aside from the “bitcoin millionaires” who promise to double your money day trading bitcoin, there are some real opportunities for those willing to put in the work.

Start a Youtube Channel

Youtube is one avenue I personally don’t have much experience with but I do have a few friends that have turned this into a legitimate side hustle.

If you are good at anything whether that be dancing, drawing, investing, video games, or even baking, there are people on Youtube who will search for and watch your content. Youtubers earn money from ad revenue so the more views your videos get the more money you can make.

Start a Blog

Starting a blog, like the one you’re currently reading can be a surprising way to earn some extra cash.

With some blogs earning as much as several million dollars a year, those willing to work for it could even make a career out of it.

Similar to Youtube, blogs earn money through ad revenue, but also have the added benefit of being able to sell online courses, e-products, and also make money through affiliate links.

Make sure to do your research though before starting because not all blogs are created equal, certain niches tend to be more profitable than others

Sell Stuff

This one is a little less passive than the others but can be a great way to make some extra money on the side.

Whether you’re selling old stuff that you don’t need anymore or buying goods for cheap and selling them for more, there are plenty of ways to make money through sales.

Drop shipping is one method that some people use to sell things without actually holding any inventory. This can be as simple or as complex as you want it to be. You can post a listing on eBay and only buy the good when someone orders it or create a whole website through sites like Shopify and automate it all.

Other programs such as amazon FBA allow you to send in the inventory, create a listing, and allow amazon to handle the fulfillment of all the orders.

Each of these methods have their own best methods and if you’re interested I would recommend reading into them in more detail.

Investing

Investing is not something you should go into lightly, it can be a great way to make money or it can be a quick way to lose money.

If you aren’t seeking any crazy returns investing can be pretty simple. Index and mutual funds can be a pretty straight forward way to earn 5-7% on your money.

If you want greater returns you could assume more risk and with the correct knowledge, possibly double your money. Although, many of the investment vehicles than have the possibility of doubling your money, are too risky to be worth it.

Affiliate Marketing

Affiliate marketing can go hand in hand with many of the previously mentioned ideas. If you have a bunch of Instagram followers, or a decent sized following on any platform, you can integrate affiliate links to make some extra money.

Many different companies have affiliate programs that will pay you a commission for any sales, clicks, or sign ups that you create for their business. I have read some wild success stories of affiliate marketers who were making 6 and 7 figure incomes with some simple strategies like email lists.

Not everyone will be able to make that kind of money but even if you manage a few leads a month you could be bringing in a decent side income with little residual work.

If you want to learn more about affiliate marketing you can check out an in depth article here.

Physical Income

These next ideas will involve some more physical work on your part but can still make for great passive income ideas.

Vending Machines

Vending machines can range from small quarter machines that dispense gumballs to the large refrigerated units that dispense fresh food. Obviously a $10,000 top of the line machine isn’t the best option starting out, but you can easily find used gumball machines online for as little as $50.

To begin simply purchase a machine off eBay, fill it with gumballs or other small items, select a location with good traffic, work out the logistics with the owner of the location, and stop by once a week to pick up your money and refill the machines.

Dealing with owners is a key part of this method, some places may want something like 50% of whatever you earn while others may let you set up for free.

The same premise applies to larger machines, although product selection and refilling can be a much larger hassle. Larger machines also involve greater costs to setup and run. If you own multiple machines it may be more feasible to hire a vending machine company to refill your machines for you.

ATM Machines

This idea is one of the more expensive ones and is closer in start up costs to the higher end vending machines.

Many people don’t realize that ATM’s can be privately owned. They can cost anywhere from $2,000 up to $10,000, but this only represents a portion of the cost. To operate an ATM you would also need to fill it with money.

The amount you place inside the ATM is largely dependent on how often you want to go and refill it. Although, the minimum amount you should have in order to have a practical machine is closer to $5,000.

If you end up with multiple machines you could cut the amount of money needed by utilizing an ATM or cash handling company. These companies will stock your ATM’s with cash on a regular basis, with their own money for a percentage of the earnings.

If you’re interested in more ways to earn money you can check out, 15 BEST SIDE HUSTLE IDEAS YOU CAN START RIGHT NOW