If you ask most millennials about their biggest financial concern right now, most will mention their student loans. While advanced degrees can lead to more opportunities in the workplace, those student loans can keep people in financial bondage for decades. Truthfully, it’s so important to create a plan, and attack it intentionally. Start by using the income from the following side gigs in order to pay off your student loans.
If you’re someone who loves to shop for clothes, shoes or anything, create an online account to become a reseller. Visit local thrift stores and clearance retailers in order to purchase inventory for extremely low prices. Then, you can take great pictures, list the items and make money. If you allow that money to pile up each month, you’ll have a solid amount that can go toward your debt.
Whether you’re great at baking different types of cookies or vegetarian Mexican cuisine, consider selling your food. Create a social media account to post your pictures of your food. This will help you create buzz around the business. As your food sales expand, consider finding a food trailer for sale. You can drive around your local city as you sell food on the go. Make sure your profit margin is wide enough to sustain your food business.
There are plenty of ridesharing services to choose from such as Uber and Lyft. Consider the option that works best for you. Pick specific times that work for your schedule. You can also opt to deliver food to different customers with Uber Eats. Ridesharing services allow you to meet new people, make extra income and drive throughout the area.
If you’re someone who is naturally nurturing and great with children, become a babysitter. Create a bag of goodies that you use to entertain the kids every time you watch them. So many parents will pay for a trust-worthy person to watch their children while they take a break, take care of their own tasks or go to work. Use a reputable childcare service in order to get a background check, find new clients and get paid.
Student loans can provide their own list of worries. However, it’s best to keep it all in perspective. Student loans don’t have to get the best of you. They don’t have to become the bane of your existence. By creating a plan, using a few side gigs, and exercising discipline, you can pay off that debt forever.
Brooke Chaplan is a freelance writer and blogger. She lives and works out of her home in Los Lunas, New Mexico. She loves the outdoors and spends most of her time hiking, biking, and gardening. For more information, contact Brooke via Facebook at facebook.com/brooke.chaplan or Twitter @BrookeChaplan