How Can A Full Time Student Make Money

How can a full-time student make money? Well that's easy because if your kids were actually making money most of their life, mine have since they were four years old, so how can a full-time student make money? Obviously you can get a boring job. I as a full-time student started my own. I ever did personal training, I did aerobics instruction, I did what I knew how to do. So the three things I want to talk about is that. What is it that you know right now that you could do? If you're a student athlete, are you kidding? You have NIL like name, image, and likeness opportunities. Any of those of you who do anything like that, there are so many opportunities I can't wait to share with you. Second thing is inside that side hustle, if you're 18 and older and you're serious about then not overpaying taxes as you make money as a full-time student, I'm going to talk about some corporate structure that I think you need to get into. And then lastly, just the importance of continued financial education. No one does it. The school's not going to do it. Even if you're in business school, you're getting a massive bad attitude, which is an MBA to get more letters behind your names. And I say that in jest because I have a master's, my son's got a master's, my daughter's going to get a master's. I believe in all that, but I really need to have a massive bank account. So let's start with the first one. What is your current skill set? How can you as a full-time student make some money? So start a business and do what you know how to do. Those of you who know, who are really, really good academically, and I'm just telling you, these are what my kids do too. They tutor. If you are a student athlete, you can do whatever kind of your jam or your thing is, whether it's strength training. I have quarterbacks who are doing just how to actually throw and be a quarterback. I have volleyball players who are actually like, how do you run the net? How do you serve? I have tennis players that are doing strategy. So all of you athletes can totally just be a personal trainer or specialized trainer in the sport you're in and get your own brand because you are a brand. Now I'm going to go to the second thing. You need to be incorporated. Those of you, and I've been screaming this from the rooftop. So although this is being played here on my YouTube channel, we are going to post this over on Twitter because that's where my athletes are who are not paying attention. Some of my athletes are making $20,000 a month. That's $240,000. It's more than adults make as a student athlete. The problem is they're not incorporated. Without being incorporated and you make the money, you don't have deductions. I mean, you have a little Schedule C that's like 13 to 30 deductions. If you actually had an LLC in your state, a company in your state with our tax teams on top of it, we're going to take that tax burden down to hardly anything. But if your company doesn't make the money and you make it, you don't get deductions. Companies get deductions. 81,000 pages of tax code. So it's important. And I started companies in my teens as well. So once they become an adult at 18 years old, my daughter's going to be 18 in October of 2024. She's getting an LLC for her birthday. It's been set up since she was 16 years old. My son has one. She'll move a little faster and getting right into a second one because she's also becoming a pilot. And then once she starts that, I mean, there are so many things you can do as a student. And I can tell you, if you like digital marketing, cameras, videography, and you're all great on social media as a full-time student, do you know how many businesses in that community that you're going to school in probably don't have good social media channels? They don't have anyone actually doing good ad posts or social media posts. You could either do the recording. You could do the editing. You could actually do the videos. So when my son played for Georgia Southern, he actually did a lot of like happy hour videos or different videos for clothing stores. So he did it for Viper. He was a barstool athlete. So there's so many places where you can use your name, age, and likeness. You could create your own social channel, get your own following. You women, I mean, you have so many people who will follow you for a beauty aid. You know, just what beauty aids do you like? What jewelry do you like? So whatever you like to do, do it. I have other student athletes that one is a pressure washing business making five figures a month doing pressure washing, big commercial jobs. I have a whole nother group who does woodworking. I have another group who actually does really cool. They'll actually hang up in the dorms all of your electronics so it doesn't screw up your walls. If you're a landlord, you're going to want that. And they do a lot of handyman jobs. They also build like student lockers and locker rooms like for their actual bunk and their dorm rooms because there's not enough storage. I have other student athletes that again do nutrition training, cooking training, just cleaning. I have another woman who she does commercial cleaning. She's making a ton of money. So I would prefer you become an entrepreneur as a student than get a job. I mean, you might get a little experience, but why not be an entrepreneur and make as much money as you want? When I was doing that in college, I was making up to six figures when I was in school because I had so many personal training clients. And then I use other athletes at the school to help fulfill all my personal training clients. So I became the good marketer. I would get the work. They would do a lot of the training. I mean, I was booking 26 to 30 hours of personal training a week at 40 to $70 an hour. And that was in the eighties. So I know you can all do it. You just have to want to do it and you want to make more money. So you don't have to take all those student loans, make the money. And then I want you to start investing your money. So got a lot to tell you about that. But before we continue that, I want you to subscribe to my channel, click the notification button. I want you here five days a week. For those of you who are going, what does it mean to be an entrepreneur and get into corporate life? All of you, I'm going to give you two tickets to our Millionaire Intensive. We do it once a month. It's an eight hour course. So you might have to ditch class a little or just buy our VIP and re-listen to it over and over and over. So I look forward to seeing you at our Millionaire Intensive. And I'm also going to give you a free ebook copy of My Millionaire Makers. So you can start consuming it at 17 years old. When I went off to college is when I started my financial education journey. I would say in addition to my book, which I'm giving you a go grab Think and Grow Rich. That was my first book. It was phenomenal. You probably want to read Rich Dad, Poor Dad. It's going to be amazing contextual thinking for what you could be doing differently. Becoming an entrepreneur versus getting a job. Now just know through college, right? Because my son has a finance degree and accounting degree and a master's of accounting and now becoming a CPA. And he still says, not what you teach mom, because what schools are going to teach you. So just know going into it and it's fine. They're going to teach you how to get a big job as an engineer, as an accountant, but for a company, not to run your own company. So you add my education, which I need you here five days a week. So literally take five, 10, 20 minutes a day, be in my YouTube channel and take one lesson away. What's one thing you could do every day to do it differently. The other thing I just want to talk about with financial literacy and those of you that are full-time students or just anybody above 18 is your credit cards. You have got to manage your credit card use and you're going to be offered probably 6,000 times between 18 and 22 offers to get a credit card and go to these flunky online banking structures. Don't do it. I'm going to give you a massive gift. I taught them in a Georgia Southern football team, a one hour course with one of my expert partners, Ryan, on how to get personal credit cards, business credit cards, and how to do it right. So you don't dump your credit score. There are amount of 22, 23, 24 year olds that are having to go through bankruptcy or do a complete debt consolidation. It's ridiculous. So you, it is up to you to decide you want to be financially literate. You want to have wealth and how to use corporate structure, reduce your taxes. And very soon I want you investing. And for all of you grab a Roth IRA. It's easy. I have a free account for you. It's called iFlip. You can put your extra money in iFlip, put it in a Roth IRA. The benefit of a Roth is it's for later in life, which means you're starting to put it away now. It'll compound. If all you did is contribute to your Roth for 20 years of your life, you'll be a millionaire. One move, there's your millionaire status. Look forward to working with you all. Stay on this channel and we'll be back tomorrow. If you have any questions, go to asklaural.com. A-S-K-L-O-R-A-L. Ask questions, make a request. Talk to you tomorrow.