6. Buy and sell domain names
A domain name is just a website address (eg. ‘savethestudent.org’ or ‘mysite.co.uk’) and there are lots of extensions (.com, .net, .co.uk etc). They cost as little as £1.99 to register with 123-reg.co.uk or GoDaddy.com yet premium domain names can fetch £1,000s if not millions when sold on. In 2007 VacationRentals.com went for a cool $35m! Now you’re probably not going to come across anything like that, but you can still turn a quick profit with a bit of searching. The trick is to find available domain names which have some commercial value, snap them up and then list them for sale on a site like DomainLore.
7. No-risk matched betting
Hands down the quickest way to make a lot of money (well, without breaking the law). Lots of students have genuinely made £100s from this technique. It’s completely legal, risk free, tax free, and anyone can do it.
It works by taking advantage of free bets regularly offered by betting sites (such as PaddyPower.com) through ‘matching’ them at the betting exchange Betfair.com. Matched betting eliminates the risk (you are betting both for and against a certain outcome). This leaves you being able to squeeze out the free bet, which can be as much as £200! Multiply this by how many betting sites there are and you can quite easily come away with a profit of a few hundred pounds.
8. Write and publish a Kindle eBook
If students are good at anything, it’s researching and writing. With the Amazon Kindle store, anyone can publish an eBook and make money. And the Kindle app is now available on almost any device (laptops, iPads, smartphones and yes, Kindles) so your global market is huge!
List your book for £1.49 – £6.99 and you earn 70% of the sale. Considering Amazon is the ultimate selling machine (and remember people are looking to spend), that is a fantastic deal.
The key to success with eBooks is to create value, and write non-fiction. Simply bundling information you have researched and complied on a common problem (eg. ‘secrets’ to finding a job) and then presenting it in an easy to digest format (an eBook) justifies someone spending a few quid on it.
Another big tip is to have a great cover designed so it stands out, and once your book is live on the Kindle store (approval takes less than 48 hours) it’s really important to get some reviews so it shows up higher in results. Encourage readers to leave an honest review at the end of your book.
The best thing about this lucrative idea is that once you’ve invested the time (say 20 hours), you’ll earn a passive income for years to come! For a step-by-step guide to publishing and earning with eBooks, see “How to write a nonfiction eBook in 21 days“.
9. Affiliate marketing
If you’ve got a good presence on social media or perhaps you even have a blog or website, you can start bringing in money immediately by promoting all sorts of companies, products, services and offers online.
Sign up to an affiliate network such as Affiliate Window, check their offers blog or browse the merchant listings to find something you think your friends would be interested in, grab your affiliate link and share it. If someone buys (can be within up to 90 days) using your link you’ll make a nice commission.
To take it a step further, set up a website (read our guide) or a topical Facebook page and invite all your friends to join it and post your affiliate offers on there.
10. Review music for money
If you love music, make it your business by reviewing unsigned bands and artists for cash. I know… we couldn’t believe it either. It can take a while to build up your reputation but some users of the site have said that they have earned £40 a month. This may not sound like much but if it’s something you enjoy then it shouldn’t be hard work and is another thing for your CV. Money you earn will be in $US but anyone can sign up and review.
To get started, head over to Slicethepie now
Entering competitions of course comes with no guarantees, but there is a growing community of so-called ‘compers’ in the UK consistently making up to £50,000 a year through all sorts of competitions.
Types of competitions available to enter range from simple registration forms and Facebook page liking to answering questions correctly over the phone to being a TV game show contestant. Imagine you made it onto Deal or No Deal instead of just watching it!
11. Get cashback when shopping
This is not only a way to make money but also to save money as a student. If you look at it in a different way then you are making money with every purchase you would have made anyway, whether it be 10% or 0.5% cashback. There are a number of cashback sites out there which pay you the commission they otherwise would have earned.
I recommend signing up with both Top Cashback and Quidco.com which are free and offer the best selection of retailers and exclusives.
12. Sell your photos
If you think you’ve got a good shot and a little creativity, try uploading your photographs for free to stock websites. A good starting point is Fotolia or istockphoto.
Make more money selling photo subjects that people are demanding, and there’s a great resource to find this out here. It might be a good idea to test them out in print first yourself.
13. Freelance work
Perhaps you enjoy writing, managing Facebook pages or doing a little bit of graphic design in your spare time. There are so many freelance jobs out there that require simple skills or just time that someone else might not have.
And the best things about freelancing is that you can work for clients in the UK and around the world with just an internet connection from home, to your own hours whilst developing valuable skills.
A great place to start is with the leading freelance site Elance.com.