The Student Money-Making Mindset

We all want to be on the money-making stage. But how many of us think about what happens backstage? Read this for a ‘behind the scenes’ look at making money.


So, you want to know how to make some extra cash?!

No doubt you’ve been hearing phrases like:

  • ‘’ make money while you sleep’’
  • ‘’ be your own boss’’
  • ‘’ live the life you dream of’’

Everyone has that goal: make more money. Unfortunately, it’s a goal with zero direction.


Because few people allocate the time to thinking about their thoughts. If we can think about our thoughts, we can try to better understand ourselves.

This will help us to see why we have particular ambitions and also identify which factors influence us.

By putting time into thinking about our thoughts we can then try to develop the best possible approach to achieve our goals.

This approach is then tailor-made to custom suit your vision.



But few are willing to dig the foundation.

If you are reading this then you’re either in school or college, and so you – of all people – know just how crazy it is to try and manage your life with your current commitments:

  • Academics
  • Sports
  • Family
  • Friends
  • Significant other

And anything else that you passionate, driven people might have going on in the background.

The point here is that it is far from easy to make money as a student. We have tight schedules that are executed at high-speed.

Why is this important to take note of?

Because when our lives are in full-swing it will become tempting to say that you don’t have the time.

If you can confront this fact before you even get started you are already one step ahead.

To make matters ‘worse’, if you are wanting to make money then it will take money to start.

Above this is then the point of also investing in ‘sweat equity’ – and a lot of it. Sweat equity is the kind of investment that will be made by you in terms of your time and effort.

If you are looking to make a quick buck then this will probably break you.


Especially in your starting phases, there will be a huge imbalance between the rewards vs the input.

Be prepared to feel discouraged. Be prepared to experience forced patience.

The art of making money lies in having the endurance to break through the initial phases of nothingness.

piece of paper attached to string by a clothes peg with the words BE PREPARED written on it

If you can master the art of ‘the waiting game’ then I have some…


Anyone can make money in school.

This is the beauty of the world of money. It is a science a proven one at that.

It’s a matter of following the basic principles to the letter.

Spend less money than what you earn and you will have some fat leftover at the end of every month.

The sooner we can realize this, the more thankful our wallets will be when we decide to go out for ‘’Just 1 drink’’.

This is the very same rule that levels the playing field for all the ‘financial athletes’, as I like to call them:

You don’t need to have x-amount of ‘cash dollar’ in the bank to adopt & implement this practice.

Right now, you’re probably thinking to yourself that that is way too simple to be true. But it is – the very core of making money is as succinct as that.

Okay cool, so spend less and that’s it?


We here to figure out how to make money. Saving is just that little cherry on the cake.

stacked wooden cubes spelling out MAKE MONEY

Now that we understand the basics behind actually growing your bank balance the next part is all about…


It’s quick and easy to say that you want to make money.

But how often do we stop to think to ourselves about why we want to make money?!

This is important because not everyone will have the same reason behind their why.

As is with anything in life, there is never just one way of solving a problem or achieving a goal.

The destination might well be the same, but the journey that different people will travel to arrive at that same end-point will vary.

clock with ''time to think creative'' next to it with colorful arrows pointing to the writing

And those varying journeys determine the relevant strategies/ approaches that will need to be implemented to achieve the desired outcome.


  • Is it to have more spending power?
  • Is it to be financially independent?
  • Is it just simply to have a bank account that smiles at you?
  • Is it your way of providing yourself with a sense of goal achievement?

If you want to increase your purchasing power then you may not even have to look at making more money per se:

A simple evaluation of your current expenses and subsequent compromise may free up the required funds to purchase the next thing that your heart desires.

If – however – there is more substance behind your drive to making money then it is of value to you to continue reading this article.

man in suit staring at wall with multiple abstract icons on it

Now that you can have a broadened perspective on your why, next up on the list are…


Typically – as we discussed earlier – making money is mainly about just being aware.

If we are conscious of where our money is going, we can be more practical in terms of how we make use of it.

Having a greater awareness though about the use of your money is only a fraction of the bigger picture.

Making money is a marathon and so hindsight is probably one of the greatest assets you can utilize.

In today’s digital age, instant gratification is in surplus. This fact often then interferes with our ability to see the benefit of immediate small adjustments for the sake of long-term rewards.

Saving $1 today isn’t going to help much for tomorrow, but that same $1 saving on everyday habits come next year is suddenly looking a whole lot better at $365.

It’s great that we can have an increased awareness about our needs & wants but that isn’t going to help us much if we don’t correctly adjust them.

Because what good is it for us to be making more money if we just going to be ‘careless‘ about how we use it?

I am willing to bet that you’ll feel similarly to when you were making less money – that there wasn’t enough to meet your needs.

And ultimately it comes down to the simple mindset of living below your means to be able to free up some resources.

time to evaluate written on sticky-notes

Now that we’ve got the absolute basics behind a money-making mindset, next up is to…


If you know anyone or have been around anyone who is involved in the investment side of finance then you would be aware of ROI – return on investment.

This is a key factor that investors focus on when plugging capital into any venture.

Similarly, the derivative that is ideal for students – who want to make money – is to focus on ROT.

Return on time.

Why do I say this?

We are students and our priority is to get a degree – unless you’re the party animal.

Because of this, we need our side hustle to be flexible around our academic schedule.


And so, the area to target is that of passive income.


If there is any reason to BYOB: become your own boss, it should be the internet.

It is a total gold mine for money-making opportunities.

Whilst it might be a highly saturated business space, if you’ve got the commitment to push through the initial ghost town phase of any concept you might come up with, you will be rewarded.

It whittles down to how much sweat equity you are willing to put into your idea.

The hard truth is that your venture, 9 times out of 10 is not going to see any ‘real’ traction for at least the first 8 months.

Whatever grit and determination you show towards achieving that eventual traction, will bear fruit in time.

This is the precise reason as to why the internet is such a powerful start-up platform.

It has exponential traction growth, which yields passive income.

young man lying on floor with multiple notebooks in front of him

So that’s the foundation

Let’s look at a few bricks you can use to…



This has definitely got to be everyone’s favorite part of ‘money-matters’.

Fortunately or unfortunately though, it is a core part of finance.

It’s all good and well for us to have money-making methods to implement. But that wont be of any use if we haven’t outlined the current flow of our cash.

The bonus though is that once the initial hard yards are complete, the budget framework will only need to be updated every once in a while.

Cutting Costs

This is probably going to be one of the immediate realizations for you, once you’ve drawn up your budget.

You will quickly be able to analyze and identify areas of your expenses that aren’t exactly necessary.

This is an easy to implement ‘shortcut’ that over time, will prove to show worthwhile gains.

Reducing your expenses can be achieved through either taking a frugal approach or becoming a financial minimalist.

Frugality is all about trying to find the best deal at the best price. It’s the typical mindset of buy bulk & save.

Financial minimalism however is quite the opposite. Here the view of paying for quality over quantity is adopted.


Now that you have some extra cash leftover, it’s time to put that money to good use.

This idea has been flirted with from the start.

It provides a way of you knowing that you are adjusting your spending habits and can be quite motivating to look at every now& then.


For our slightly more adventurous readers, this alternative to saving might pique your curiosity.

The value here is that you are young and have the assistance of compound interest to balance out your ‘low-value’ investments.

If there is going to be an ultimate method of trying to beat the rate of inflation, investing should be your go-to.

Part-time Job

Admittedly, it might not be the greatest when it comes to offering flexibility.

A part-time job can certainly provide non-tangibleeducation’ if you look at things like customer service and time-management.

It will also boost your CV to be of more value to prospective employers by demonstrating credibility & reliability.

Side Hustle

If you consider yourself the captain of your own ship, then I’ve got a feeling that this is the perfect route for you.

We’ve spoken about the internet and it’s earning potential, IF you put the work in.

This is an optimal space for any student to turn to as it offers convenience.

Work from anywhere, anytime – what more could you ask for?!

Related: The Side-Hustle Starter Kit for Students



As in any sport or field, if you jump the gun you get penalized.

Too many individuals want to jump into the deep end by thinking about earning money during their schooling career.

They end-up having minimal clue of where to start.

This comes as a result of not having given thought to what the background of making money looks like.

Hopefully this post has been able to provide you with some form of substance and worth.

Your challenge now is to think about possible opportunities that you can take advantage of to make money.


Am I willing to commit to an idea for the long-term? Especially because I am unlikely to see short-term success?

Am I prepared to make the short-term sacrifices with hindsight in mind?

Do I understand that it takes money to make money – can I put my money where my mouth is?


Have you ever thought about making money in school or college?