How To Become Financially Independent In College Life? - YouTube

Financial Independence in college life

sounds an awful lot difficult, hard and unachievable, right?

NO!

because in this video, I will tell you

how you can become financially independent in your college life

and even though right now

India's 99.99% of college students

are not financially independent

because they still depend on their parents to pay for their college.

But if you want to be part of one of those 0.01% of college students

who are financially independent in their college life

and bear their own expense

then don't forget to watch this video till the end

because this video is basically an ULTIMAT GUIDE

of how you can become financially independent in your college life

and being financially independent in your college means

that you pay for all your expenses, a to z everything from college fees, hostel fees, food, hanging out with friends, celebrating

and you are the one who's covering all

You are not even asking your parents

and to achieve this financial independence, the first step

is to calculate your expenses for the whole year.

So if you want, you can take out your pen and paper and calculate with me

I will tell you how to calculate

or you can watch the whole video till the end once and later come at this point to calculate again

So basically Indian college students have four kinds of major expenses

The first one is the college fees,

secondly, the accommodation expenses, if you are living in a hostel or you are living in a P.G. or a flat

this expense, the rent that you pay, that's your accommodation

the third one is your food expense, the food that you would eat daily,

the expense of your four basic meals, this is your food expense and the fourth one is your personal expense

that involves you hanging out with your friends, spending money on parties or ordering food from Zomato and Swiggy

all these things that you enjoy, they all fall under the fourth type of expense.

Now, we will calculate how much these expenses cost

and just a heads up, the calculations that I will be using are approximate and average

the calculations can vary from student to student

so please guys do it your own way

The fees of an Indian college for a year on average is around ₹2 lakhs

It can be either more than ₹2 lakhs if you are in a private college or less than ₹2 lakhs if you are in a government college

we are currently assuming it to be ₹2 lakhs approximately

and if I talk about accommodation and food, then your one-year average expense would be around ₹65 thousand for accommodation

and for food, it will be ₹25 thousand

once again guys I would suggest it can vary, so please adjust it accordingly

and I'm assuming this amount to be ₹65 thousand and ₹25 thousand, only if you are living outside of your hometown

and obviously, you do not live outside for the whole year. You guys probably come back home during your two-three month holidays

so your net expense for living in a hostel or P.G. for a year would be ₹65 thousand and ₹25 thousand

but if you are living at home then you will save all of this expense

you can put this expense as zero in your calculation

and finally, the fourth expense is a personal expense

according to me, after all these expenses if you have ₹ 5000 monthly left that you are using for your own enjoyment

then that's a lot

and I think ₹ 5 thousand rupees is enough, if you think you will use less then consider less or more if more

but let's take ₹ 5 thousand for this example

so the total expense comes out to be ₹3.5 lakh rupees for one year

okay now please don't be scared that where will I bring ₹3.5 lakh rupees

don't worry I will tell you everything about how and when will the money come?

but for now, this comes out as our calculated total

If you have an investment mindset like mine and you want to start your investment money while you're still in the college

then you can add ₹50 thousand to this ₹3.5 lakh of yours

and you will invest this ₹50 thousand rupees in long term

so the net total arrives out to be ₹4 lakhs

but your amount can be less than ₹4 lakhs if you don't want to invest now, you can remove the ₹50 thousand

if you live at home, you do not have any sort of food or accommodation expenses. You can remove that too.

so please check your calculations at the end

so now if you need ₹4 lakh rupees annually to become financially independent

then you need ₹35 thousand rupees monthly

and for earning ₹35 thousand rupees monthly, you have to earn ₹11 hundred rupees daily to be financially independent

If you are thinking that since the amount is calculated, even I could calculate this

but how will I earn this money

who will give ₹1100 rupees or even ₹35 thousand rupees monthly to a college student

or even ₹4 lakhs yearly, who will give me this much money

Don't worry, I will tell you everything in this video, hold on.

so before proceeding ahead, I want to know about you guys. Which college do you study in? Which course are you pursuing? and which year are you in?

Pause this video right now and tell me in the comment section

so I could get to know which college students are watching my videos

let's go and finally find out how to earn this money that you need to be financially independent

this ₹35 thousand rupees that you need per month

how will you earn this money during your college?

Here I will tell you the top 5 ways to earn money and become financially independent in college

and how to actually earn this money?

But before that, I want to clear one thing with you

maybe some of you will feel terrible and don't want to do this work for being financially independent, too much hard work

but those people who keep this mindset of being financially independent

the people who will watch this video till the end

only those people will understand what I'm trying to explain here

and only they will be able to achieve their goal of being financially independent

and this simple thing that people with financial independence needs to understand

that anywhere in the world as a college student or as a professional if you need to earn money, you need to be skilled

you need a good skillset so that you could earn this kind of money

trust me this financial independence is not everybody's cup of tea, nobody will hand it to you just like that

If somebody's paying you ₹35 thousand per month

then you must have a level of skillset and too many people get scared just from listening to the term skill

some of them will be devastated and even some of you guys think that you need to be highly skilled to earn this kind of money

give us an easy route to earn this kind of money

but I have told you before, it's not everybody's cup of tea that anybody will hand it over to you

well you have to put a little bit of work into it and maybe a few of you won't get money at the beginning

It's fine if you are not skilled, you can build your skill by working for free for around two-three months

and when your skill is developed, it could be at a basic level

you don't need to be a top-level professional

then you can charge people for your service

so let's talk about the top five ways

and the first one is internships

trust me internships are the best way to get corporate exposure and you get to work with a team in the company

and internship is where you get paid to build your skills

and you get paid when you are free, either during your summer vacations or winter vacations

and there are several websites like Internshala where you can look for internships

I highly recommend utilising your summer or winter breaks and join an internship and earn through your internship

the second method is freelancing

freelancing is a method to earn money where you can earn a lot of money

but your skills matter, you need to be skilled for that

and once you have developed your skills and these skills can be from any field, it could be technical or non-technical, only skills matter

you can be a web developer, you can be a graphic designer, you can even excel at social media management

wherever your interest lies or wherever the people need help with and that you can cater to

devote a certain period of time in that field to build your skills and start your freelancing journey

let's talk about the third method, since you are a college student, you have definitely passed the school

there are definitely a few subjects that you are good at

that you can teach your juniors, these juniors could be your college juniors or school students

so if you start teaching or begin with online or offline tuition services

teaching is a very good way where you could teach students at cheaper rates and competitive rates

and you will also get a good source of income through teaching

the fourth method is where you have an entrepreneurial mindset and you can solve real-world problems

then you can even begin with a little business or a startup

and starting a business or a startup on a small scale is not at all difficult

you don't need to create a million-dollar startup, you just need to identify a problem that you can solve and then charge people with your solution and earn 30-40-50 thousand per month

a lot of college students do it, you don't need a startup with a lot of funding, you can begin from scratch

you can provide a business service to people and earn money through that

and the fifth and final way to earn is where you become a content creator

Content creator doesn't mean you have to make reels or tik tok content

You can post videos on Youtube or create articles on medium or basically putting content on any other platform

content that people want to consume or content that people want to watch or learn from

you can easily earn an amount from that

so these were the five ways to earn money in college

but once again these methods are neither too easy nor too hard

invest a little bit of your time if you want to become financially independent

you have to put your hard work into it and give a time span of two to three months to it

Develop a basic skill level and work on your ideas so that you could earn money

So we have reached the end of this video. But once again don't forget to tell me about your colleges in the comment section

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Thank you