Side hustles for students: How to make money at uni

Defining a student side hustle

A side hustle is any activity undertaken alongside your studies to generate income. It can range from freelance writing to dog walking, social media management to selling handmade crafts. The key difference between side hustles for students and a traditional part-time job is the level of flexibility and control. Side hustles often allow you to set your own hours, choose your clients, and dictate your earning potential.

The benefits of having a side hustle at uni: Money, skills, and experience

The advantages of a side hustle extend far beyond just padding your wallet. Here are some key benefits:

• Financial Boost: Cover those unexpected expenses, contribute to tuition fees, or simply enjoy a little extra spending money.
• Skill Development: Gain practical experience in areas like marketing, communication, finance, and customer service – skills highly valued by employers.
• CV Enhancement: A side hustle demonstrates initiative, entrepreneurial spirit, and time management skills, making your CV stand out.
• Networking Opportunities: Connect with potential clients, mentors, and future collaborators.
• Exploration of Interests: Turn your passion into profit and discover potential career paths.
• Increased Independence: Gain financial independence and learn valuable life lessons about managing your own finances.

The essentials: Registration, finances, and pricing

Legal Requirements

Depending on your chosen side hustle and your earnings, you may need to register as self-employed with HMRC. This ensures you’re paying the correct taxes on your income. Research the specific requirements for your chosen hustle to ensure you’re compliant with UK tax law. It’s also important to be aware of any necessary licenses or permits required for your specific activity.

Financial Management

Track your income and expenses meticulously. Consider opening a separate bank account for your business to simplify accounting and keep your personal and business finances separate. This will make tax season much less stressful.

Pricing Strategy:

Research market rates for similar services or products and set competitive prices. Consider your experience level, the time investment required, and the value you provide to your clients. Don’t undervalue your skills!

• Create a Schedule: Allocate specific times for studying and working.
• Prioritise Tasks: Focus on the most important tasks first.
• Utilise Downtime: Make the most of breaks between classes or commutes.
• Avoid Overcommitment: Be realistic about how much you can handle.

Online platforms and marketplaces

• Freelancing Platforms: Upwork, Fiverr, Guru
• Online Marketplaces: Etsy, Amazon Handmade
• Social Media: LinkedIn, X, Instagram

Networking and local connections

• University Career Services: Check for part-time job listings and networking events.
• Local Businesses: Reach out to businesses in your area and offer your services.
• Student Societies: Connect with fellow students who might need your skills.

Student jobs: A traditional option

Part-time student jobs on campus or through the university’s career services offer a more traditional employment route. These differ from side hustles in that they typically have set hours and a defined job description. However, they can still provide valuable experience and income.