The entrepreneurial student – ten ways to supplement your income while studying

Now has never been a better time for tertiary students to start a business.  Much more than the graduates of the past couple of decades, current students need to be prepared to find ways to supplement their incomes. Let’s face it; the cost of living continues to increase every year and the job market is a tough place to break into, making it harder for students to make ends meet while they are studying and to find a job after they’ve finished. 

Launching a business while you’re studying sets you up for success.  Here are ten business ideas you can start while you’re studying that shouldn’t cost you an arm and a leg to set up.  You can use one of these ideas or come up with your own.  Some of them may work better than others, or may not work at all, depending on your personal circumstances.   So choose wisely, and remember to adjust quickly if the business you start isn’t growing.

Before we start, let’s look at some quick tips for creating a successful student business:

* Innovation is good but it can also be overrated.  Don’t feel like you have to come up with the next big idea. The main idea is to start a simple business that generates a profit.  And that’s the main idea.

* Pick an idea that has an immediate and obvious customer base that needs or strongly wants what you plan to sell. Ask yourself if there is a demand for your product or service.

* After your initial investment, don’t put any more outside money into the business.  That’s your test for whether you’re succeeding.  The business needs to pay for itself and pay you.  Once you start, the business should generate enough for you to reinvest into the business and then begin to pay yourself.  If you see things dwindling, figure out whether you need to adjust prices, offerings, or do more marketing and selling.  Pay attention to customer inquiries and demands. They will lead you in the right direction.

* Remember the business is a great experience but it’s not the main reason you are on campus.  You are there to get a great education.  So develop discipline and time management skills that will allow you to go to class, get good results and still operate your business in your free time.

Our 10 student business ideas:

1. Tutoring service – if you’re attending university or college on a scholarship or bursary and know a required subject very well, consider start a tutoring service for local elementary or high school students who want to get into a good university or college like you.

2. Staffing service specializing in internships – start an on-campus staffing service where you help local or national businesses connect with the best students for internships and help students who want to do internships find the best opportunity.

3. Personal training service – are you athletic and into sports?  Think about starting a personal training service for students wanting to get fit and active.

4. Graphic arts and design services for presentations and papers – if you enjoy graphic arts and presentation design and you’re good at it, think about offering these services to students (and perhaps lecturers too) who want to jazz up their research and reports.

5. CV writing service – are you good at finding the best angles to present information? Start a CV writing service helping students put their experience in the best possible format and phrasing to attract interview and career opportunities.

6. Hair styling and grooming services – provide hair cuts or hair styling as a mobile hairdresser or stylist.

7. Babysitting service – if you know how to look after children and you’re responsible and reliable, starting a small au pair business could be an easy way to make extra income.

8. Bookkeeping service – if you’re studying accounting and have a love for numbers offer to keep books for a few small local businesses or find customers online.

9. Photography and video services – if you have a great eye for composing scenes and images consider starting a photography and video service. You can offer your services to students and faculty, take photos and videos of campus events and help local businesses produce and post videos online.

10. T-shirt company – really cool t-shirts just never get old and they’re the standard uniform for lots of college students. Come up with neat designs or funny sayings or create custom shirts for on-campus organisations and find someone to print the shirts for you and you’re in business!

Are you a student thinking about starting a small business? What do you think about these ideas? What are you excited about, or maybe scared about? Tell us what you think in the comments section below!

Pick up a book & expand your world on World Book Day

In the busy world we live in, a lot of us don’t have the time or the patience to read. Now that television, video games and movies are so readily available and easy to consume, we often associate reading books as something we had to do in school.  Many of us would shudder at the thought of reading a book for pleasure.

But since today is World Book Day, we thought we should remind you just how amazing reading can be and what it can do for you.

1. Enhanced brainpower

Reading a book will help you optimise your brain and improve in almost every area of your life. People who read have higher intelligence and more general knowledge than those who don’t. Research has found that reading, in general, makes you smarter and it keeps you sharp as you age. No matter what you want to do or become, you can’t do it without more knowledge and reading is an excellent way to get more information on your future plans and where you want to go.

2. Reading reduces stress

By simply opening a book, you allow yourself to be invited into a fantasy world that distracts you from your daily stressors. If you’ve had a stressful day, a book can easily distract you and get your thoughts off your worries for a while. Reading is the best way to relax. Reading an amazing fiction book is perfect right before bed time. Sometimes it’s hard to put the book down if it’s really good, but you’ll still be relaxed.

3. Improved logical thinking

If you’ve ever read a murder mystery and managed to work out who the murderer is before it’s revealed by the author, you’ll know that analytical thinking is boosted by reading. Readers improve their general knowledge, and more importantly are able to spot patterns and clues quicker. If you can spot patterns quicker, your analytical skills receive a boost.

4. Build your vocabulary

It’s no secret that reading increases your vocabulary and improves your spelling, but did you know that reading increases your vocabulary more than talking or direct teaching? Reading forces us to look at and try to understand words that we might not have seen or heard recently. Knowing what other people are saying and using the perfect words to convey your feelings is a critical part of boosting your brainpower.

5. Improved creativity

Reading books takes you to places you’ve never been, and as a reader you might often wonder how a writer can piece together real or fictional events with such accuracy and detail. Reading about places you’ve never been to (or even places that don’t exist) opens your mind up to new possibilities and allows you to be more creative in your own thinking.

Here are some common reasons why we don’t read and the ways you can get around them:

I don’t have enough time

Try to set aside ten or fifteen minutes every day for reading. Whether it’s just before going to sleep, while travelling in the bus to work or even while eating, you might just find that this little bit of “me” time will become your favourite time of the day.

I don’t have the patience

For those who have never sat down and read a novel of their own choosing, finding the patience to get into the book might be an uphill task, as the activity is so unfamiliar. Perseverance is the key here, so make it a habit to read for a few minutes every day. Once you get into the book you’ll find it easier to get stuck into it.

Books are boring

There are millions of books in existence, each one on a different topic, portraying different scenarios and covering dozens of different genres. Therefore, all books cannot be the same and all authors certainly cannot be the same. Take the time to make a list of the things that might be of interest to you (you could base this on the type of movies you like to watch, or the activities you enjoy). If you don’t like the first book that you try, remember not to give up on the idea of reading. You’re bound to find something that you like if you keep on looking.

Books are too expensive

If you find that bookshops don’t suit your budget, the best place to start a love affair with reading is at your local library. The books may be slightly older than the latest novels at the book store, but the good news is that books don’t have expiry dates like food at the supermarket!

“Reading takes us away from home, but more importantly, it finds homes for us everywhere.” - Hazel Rochman

Why your parents worry about you living in res - 5 tips on bridging the communication gap

Going off to university or college for the first time may be an exhilarating time for you, but not so much for your parents or guardians. In fact, many parents or guardians dread the day they will have to send their child out into the world of tertiary education, fearing for your safety and hoping you will be able to stay focused and disciplined. These fears will be amplified if you have to leave home and stay in a residence or other student accommodation.

1. E.T. phone home…

It’s likely that they will want to call you all the time to find out if you’ve eaten or if you remembered to wear warm clothes because it’s slightly cold outside. It may seem a little intrusive and feel almost as though your family doesn’t trust you, but just remember that they’re doing it out of love and you’ll probably do the same with your own children one day.

One of the most helpful things you can do is to discuss your parents’ expectations for communication before you leave home. If you feel they need to give you some space, try and break it to them that it would be easier for you to call them whenever you have a moment, but make sure you do call at least once a week, otherwise they’ll feel you’ve abandoned them.

2. You’ve got mail!

E-mail is another form of communication that works well for many families. Student life is sometimes unpredictable—you’re not always going to be in your room between 5 and 10 p.m., when your parents are home from work and want to talk to you. If you and your parents have access to computers, tell them you’ll communicate with them by e-mail during the week as well. SMS messages can also work well if they don’t have e-mail.

3. Coming home

Although students who stay on campus over the weekend tend to meet people more easily, because there’s less studying and more social time, it’s also healthy to leave campus from time to time to reconnect with your loved ones.

When you’re in the residence halls and your focus is on your academics and maybe on a part-time job, you have a big to-do list and a lot of stress, so it’s good to get away and let your mother spoil you with your favourite home-cooked meals.

4. Speak out

If you’re feeling highly emotional or if you’re having thoughts about quitting your studies and coming home, talk to your family. They might be able to think of a way to help you feel less isolated. You can also visit your university’s counselling service for advice on how to overcome the challenges you are facing. Often an initial visit will help you learn about the kinds of support available from your institution and elsewhere on campus.

5. Let’s talk about marks

University is a time when students become more independent — though they may have mixed feelings about it. Even students who don't seem close to their families usually still care about what their parents think and fear disappointing them.

Many students have struggles. It’s important to remember that your parents only want what’s best for you. If you’re struggling in varsity don’t be afraid to tell them. Sure, they may be disappointed, and they may even get angry, but they aren’t going to kill you. They’ll almost always want to help you, because they want you to be successful.

Everyone gets a bad mark once in a while. Sometimes the test was harder then you thought, or you didn’t get enough sleep. Just don’t come up with excuses when you don’t do your work. If you lie, your parents will only get more upset and concerned.

Your parents want you to succeed, but it’s your decision whether you will be successful or not. Don’t argue with your parents if they want to know your marks. Whenever you inform them about a bad mark, have a strategy for recovering from it and let your parents know that you are being proactive about the problem.

In general just be honest with your parents and try to communicate with them more. The more you communicate the better they will feel about your schoolwork and the better you’ll feel about telling them.

Eduxtras partners and the benefits of swiping your card

Eduxtras is Eduloan’s fund management card solution for students, designed specifically to take away the stresses of managing your education bursary.  The Eduxtras card gives you easy access to your funds which are divided into separate pockets to help you budget your funds in the way the fund provider wants. On instruction from your sponsor we can allocate funds to items such as tuition, accommodation, textbooks and even groceries every month - making sure you can budget for all the costs associated with your education.

Your Eduxtras card works just like a debit card. The card was designed especially with the student in mind, making it easy and convenient to manage and budget your bursary funds.  The Eduxtras card has been set up to have different independent pockets which can only be used at suppliers that are set up for each specific pocket (see our full list of partners where you can swipe your card here). 

The pockets are loaded by Eduloan as per instructions from the fund provider (whether it’s a university, bursary, sponsor or company). Additional funds can also be loaded onto the card at the Eduloan helpdesk (only at University of Pretoria) or by transferring funds from your bank account. It takes approximately 72 hours before the funds can be used.

When you make a purchase at a partnering supplier, money will be deducted from your funds and taken out of that specific pocket – without charging you ANY transaction fee!  

The solution provides peace of mind to you and your sponsor - you’ll never be able to use your funds for anything other than what they are meant for – even if temptation at the shopping mall is stalking you! This way you’ll always be able to meet your financial commitments while you’re studying.

Your funds can be split into different pockets.  Each pocket is unique on your Eduxtras card. For example, the pockets can be utilised as follows:

·         Books

·         Food

·         Accommodation

·         Tuition fees

You can only use funds in each pocket for that pocket's purpose. So, if you run out of funds in your food pocket, you cannot use funds from your book pocket to buy food.

Features include:

·         You can check the balance of each pocket on the Eduxtras student portal here

·         You will receive an sms for every amount loaded onto your card

REMEMBER: If you have not used up your funds by the end of the academic year, the funds will be transferred back to your fund provider. This is to ensure that you use the funds allocated to you responsibly and for the right reasons.