how to make money while studying in college (Two detailed ways)1

how to make money while studying in college, is an article I believe will help students become debt-free.

These savings and investment platforms are created by individuals or groups, hence it is subject to change anytime.

So when you notice these, do not despair, because there is always a change in currency and other investment rates.

last time I spoke on five easiest things to do on campus to make money.

I know someone might want to ask, what is the difference between this topic and my latest post.

Well, it is interesting to know that my first article on finance only spoke about the method of making money which focuses on your own personal time and effort.

like I said in my previous post, to make money you definitely need money, the variable most concerned about this post is saving and investment.

Marketing and saving concepts we need to be familiar with

Before I list these two major ways to make money, I want us to understand these concepts because they will be used as we continue in the future.


Many people are starting to wonder what I am trying to achieve with these and Some might end up asking, Am I an Economics student to be hearing this?

Well, none of these matters but I know that you need this knowledge for this conversation to go smoothly.

what is a stock by the way? A rhetorical question because I am not expecting answers from you? but I want us to be thinking something at this point in time.

I want to use this simple definition by Nerdwallet which says, A stock is a security that represent an ownership share in a company.

Don’t think that you are going to buy a company, of course not. As a student you might not have the money for that right now.

Then, why is campus solve talking about a stock if it ain’t gonna be used?

well, the crust of the matter is that you will need to have one of these sooner or later in a larger quantity or smaller quantity according to your finance.

let me elaborate on the essence of stock to a company to you.

Take, for example, you have a friend who is running a company and, he needs funds but does not want to be indebted.

All he could do is to meet someone who is a close friend and ask for the fund and when person provides, he gets a certain amount of the companies interest.

In a nutshell, a stock is receiving a  benefit for the help rendered and you can buy as many as possible, it is a source of investment.

Mutual funds

By now, you are wondering what these unfamiliar words are doing here and their functions in this conversation.

I want to directly quote Investopedia on the concept of mutual fund.

I quote “A mutual fund is a type of financial vehicle made up of a pool of money collected from many investors to invest in securities like stocks, bonds, money market instruments, and other assets.”

A mutual fund is managed by groups of professional that are tested and trusted to handle the public funds.

These kinds of investments open opportunities to the small and medium investors in which students are part of.

Now, I want to explain most of these subset here like bonds and money market instruments.

Explanation of bond and money market instrument as saving in college

I skipped stock because I have already explained it, So bond is a fixed security used to drive interest.

Have you ever encounter any of these government schemes, that says, giving 50000 to small size business, farmers and market owners in the country.

This is an example of a bond and there are many others, like companies borrowing out money for interest rate, etc.

” Money market instruments are securities that provide businesses, banks, and the government with large amounts of low-cost capital for a short time” according to “the balance”.

how is this money market instrument met, many of these companies look for a way to gather fund in a short while before they make their actual sales.

For businesses like banks, they mostly used federal funds like the central bank’s funding, etc.

You might have been asking yourself, how do you fall into these categories since you are only a student.

You need to understand that there are platforms who gather money from people to give to these companies.

They make interest from it as a reward from gathering fund and the investors also make their interest.

These categories of fundraising by companies are divided into several methods and most of them work well for one company or the other.

Continuation of the concepts of saving while studying in college

Real Estate

Let me quickly explain the concept of Real Estate to us.

I won’t go deep as that is not what we are working on today

Real estate is the property, land, building, air right above the land and underground right below the land, this is a definition shared by the balance

It is the owning of lands and properties and reselling them when it will yield profits

Real estate has been in existence since the adventure of business.

This is because men has always thought of better ways to make profits and at the same engage in a lucrative adventure.

You might be asking yourself as students can you purchase a Real Estate property? The answer is known already.

This is because it depends on the individual, all students do not receive the same level of allowance from parents/sponsors.

Every student does not spend their fun the same way and it depends on the property that you want to buy.

Fixed deposit

This concept Fixed deposit is nothing new to any of us, but I will explain it nevertheless.

Without wasting much time, a Fixed deposit has to do with a bank making use of your money for investment purposes as permitted by you for a fixed interest rate for a stipulated time.

Bank and other financial companies are usually the ones involved in this kind of scheme.

A person must have or operate a fixed deposit account for his fund to be used, which is the gateway to the permission received by the banks or financial companies to use the funds.

Don’t ask yourself if you can have a fixed deposit account or if you can operate it in anyways outside a bank as a student.

The answer is yes, and that is the climax of what I will explaining to you before the end of this post.

Saving plans

Finally, saving plans has to do with the recent developments of technology which has incorporated a way nonstudents, students, graduates, etc can save money with ease.

I don’t know about other countries, but Nigerian savings account as prior to what I was told on my primary and secondary education, do not save funds rather it diminishes funds.

Recent developments have provided means people could save up money to do anything they want with their lives later on.

Many banks do not have the option of creating a saving plan for their clients and if they do it is for regular employees.

how to make money while studying in college

Now, the two detailed ways on how to make money while studying in college are “Cowrywise” and ”Piggyvest”.

These two modern saving platforms have been on the go for a while now, but many students have never seen their importance in their lives.

Before, I continue, I will like to tell the populace that these platforms are certified and approved and as such there should not be fear when operating with them.

Do Cowrywise while studying in college

This is a saving platform that you will love if you dont like spending all your funds at a go or if you are always pressured to use more than a required fund.

Why would you need to belong here?

The interest rate in this platform is great and that is not all the great things you will gain from this platform.

You can start saving in a snap

  1. create your first savings plan
  • Regular savings: in this way you are saving money on your own terms and space.

Nobody is detecting for you as long as you follow your own rules and regulations that was set up by you.

  • Saving circle, the app also have a  saving circle, where you create a group and invite your friends to save with you so that the money comes out in a bulk.

The only person that will withdraw the fund is the creators.

These kinds of plan are created to solve big problems in the school ground.

  • halal saving: this is a saving plan that allows you to save for a long time without interest.
  • saving for life goals: this is another savings plans that allows individuals to save for the achievement of life goals whether vacation or a trip, etc.

Apart from these there are also customize savings that vary from 10000-100000 naira.

In this scenario, taking 10000 for example, you put 10000 NGN for each month for three month for it to yield 40804 NGN instead of 30000 NGN.

the same for 20000 NGN monthly for three month


For 50000 NGN monthly for three month


For 100000 NGN monthly for three months

Cowrywise investment plan

Apart from savings plan, Cowrywise also involves in investment plans, but before you can partake in any of their investment schemes.

A psychological test is run on the individual to determine the individual risk level, which is very good and has so many advantages.

The aim of the test is to source out the company that can operate in the same risk frequency level with the individuals.

After the test, the best option is brought for the individual to select among and start the journey of investment.

Many companies need sources of income, so this platform offers them the opportunity to get the money while they return a little share to the platform and the investors.

Every company has its percentage rate, and interest accordingly and interests are brought forth according to your investment and the time of collection.

The recommended investments come after the test (example)

from the test result comes the various investment plan.

all investment is general investments (example)

these are for people that want to choose their own investment whether risky or not.

The second way to make money is through Piggyvest

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