BY DEVIN LINER
Summer is quickly approaching, and as the spring semester wraps up, many SU students look forward to beaches, vacations, adventures and, of course, making money.
Here are five ways to make sure you are generating (and saving) the most income possible.
- Take advantage of the eastern shore’s summer job market. If you live on the Eastern Shore and/or stay in Salisbury during the summers, you have a huge money-making opportunity. The increase in tourism to Ocean City creates a great market for students around the Delmarva area. Restaurants, boardwalk shops, pools, country clubs, summer camps and daycares all look for people to hire and give plenty of hours to their workers during the summer season. They also tend to be more fun than regular retail jobs. Also remember that Maryland’s minimum wage is being raised to $9.25 this summer, so you will make plenty of money working!
- Monetize your skills. If you are truly good at something, use it to make a little extra money on the side while also having fun. People love handmade crafts, and you can easily sell them online or at 3rd Friday in downtown Salisbury. You can also garden, mow lawns, wash cars or have a bake sale to turn a boring summer day into a fun and productive one.
- De-clutter! If you found yourself struggling to move out of your dorm or apartment because of how much extra junk you accumulated over the semester, consider having a garage sale with your family, friends or roommates. A lot of people look for sales in the summer, and if you really want to make a profit, make a project of updating your old furniture with a little bit of fresh paint or new upholstery for even more profit. If you mostly just have clothes, shoes and accessories, you can sell them at resale stores like Uptown Cheapskate. By getting rid of some of the old stuff you do not need or use anyway, you will be able to start next semester fresh with way less unpacking to do, and you will know that your old belongings are being reused instead of ending up in a landfill.
- Utilize your student discounts. College students are notorious for being broke, so many companies give discounts and/or cash back on things like computers, clothes, textbooks, beauty products and even travel deals with your student ID. Spotify offers $4.99 monthly for premium, and stores like Urban Outfitters, Express, Forever 21 and PacSun have tons of offers for students which will help you create your perfect go-to outfit for the season. Check out www.studentrate.com to see all the offers companies provide, and make sure that you are not spending any more of your hard-earned money than you must.
- Be smart with your savings. Summer brings along the potential to create a nest egg of savings which may come in handy for buying textbooks next semester, or for any financial emergencies that crop up during less profitable times of the year. Accounting and information systems double major Kelly Van Meter, a freshman, recommends “not spending more than one week’s paycheck per month, and dedicating the rest to a savings account that will generate interest over time.” If that is not possible for you due to factors like rent, car insurance or bills, calculate how much money you will have after those obligations every month and put at least 50% of the extra cash you make into savings.