Financial Independence in college life sounds difficult to achieve. In this article, you will know, how you can become financially Independent in your college life.

More than 95% of college students are not financially independent, because they depend on their parents, to pay for college. This is an Ultimate guide on how you can achieve financial independence in college.

Financial Independence in college in my opinion is if you can pay for the college fee, the hostels, food, etc on your own, and not ask others for it.

Calculate Your Expenses:

The First step to achieving this, is to calculate your expenses for the whole year. I will cover the 4 major Expenses for a student:

  1. College Fee (Tuition Fee)
  2. Accommodation Expenses
  3. Daily Food Expenses
  4. Personel Expense

Now that we know major expenses in college and calculated how much you need to pay as expenses. Let’s now see how a student can earn this amount of money during college.

Here we have the top 5 ways to earn money and became financial Independent:

  1. Internships: Internships are one of the best ways to get corporate exposure and work with a team in a company. The internship is a way in which you will get paid to build your skill. You can join internships during your summer or winter vacations, there are many websites where you can search for internships.
  2. Freelancing: Freelancing is a method to earn money where you can earn a lot of money but your skills matter, you need to be skilled for that. Once you have developed your skills and these skills can be from any field, it could be technical or non-technical, you can be a web developer, you can be a graphic designer, or you can even excel at social media management. 
  3. Teaching Classes: One of the best ways to earn money in college is by teaching. There are some subjects in which you are good at, you can teach these subjects to your juniors or take online classes for those who need them. I know many of my friends in college used to teach and earned a decent amount of money.
  4. Business Startup: If you have an entrepreneurial mindset and you can solve real-world problems, then you can even begin with a small business or a startup. You don’t need a million-dollar idea for a startup, you just need to identify a small problem and charge people for your solution.
  5. Content Creator: Content creator doesn’t mean you have to make reels or tik to content. You can post videos on Youtube or create articles on medium or put content on any other platform. content that people want to consume or content that people want to watch or learn from you can easily earn a good amount.

There are websites like geeks for geeks that pay a young college student to write articles on their platform, and I actually write articles and get paid.