The Money Chapter

Let us talk about money.

Not because money is the goal. But because money is a requirement for continuing to do what you want.

The Student Money Reality

Most students are broke. This is:

• Expected (you are investing in education)
• Limiting (money stress affects everything)
• Temporary (if you play it right)

The question is not whether to care about money. The question is how to think about money while building yourself.

The Three Paths to Student Income

Path 1: Trade Time for Money (Jobs)

The traditional approach:

• Part-time jobs
• Internships
• Campus positions
• Freelance hourly work

Pros: Predictable, low risk, teaches work habits Cons: Time-limited, often low-skill, trades finite hours for money

Best for: Foundation income, early experience, paying immediate bills

Path 2: Trade Skill for Money (Services)

The skill-leveraged approach:

• Freelance services (design, development, writing)
• Tutoring or teaching
• Consulting (yes, students can consult)
• Creative services

Pros: Higher rates, builds skills, flexible Cons: Requires existing skills, feast-or-famine income

Best for: Funding education while building portfolio, transitioning from hourly to project

Path 3: Trade Value for Money (Products)

The scalable approach:

• Digital products (ebooks, templates, courses)
• Apps or tools
• Content with monetization (YouTube, newsletter)
• Small businesses

Pros: Not time-limited, can scale, builds assets Cons: Takes time to build, uncertain success

Best for: Long-term wealth building, creating independence

The Student Money Strategy

Here is the practical approach for most students:

Year 1:

• Start with Path 1 (job) for basic income
• Begin developing skills for Path 2
• Document everything (building toward Path 3)

Year 2:

• Transition to Path 2 (skill-based freelancing)
• Start small Path 3 experiments
• Increase rates as skills improve

Year 3-4:

• Path 2 as primary income
• Path 3 projects growing
• Building toward post-graduation options

This is not rigid. Adjust based on your situation.

The Freelance Starter Guide

Most students can start freelancing within 6 months of dedicated skill development. Here is how:

Step 1: Pick a Sellable Skill

Skills that pay well and have student-level entry points:

• Graphic design
• Social media management
• Video editing
• Web development
• Copywriting
• Virtual assistance
• Data entry/analysis
• Tutoring/teaching

Step 2: Get to Minimum Viable Skill

You do not need to be expert-level. You need to be better than the client.

Rule of thumb: When you can complete a basic project without constant Googling, you are ready.

Step 3: Create Proof

Before charging, you need evidence you can deliver:

• 3-5 sample projects (can be self-initiated)
• A simple portfolio or document showcasing work
• Basic professional presence (LinkedIn, simple website)

Step 4: Find First Clients

Hardest part. Options:

• Friends and family who need services
• Local small businesses
• Online platforms (Fiverr, Upwork) for starting
• Cold outreach to target clients
• Community groups (Facebook, Discord, forums)

Step 5: Deliver and Document

Complete work, get testimonials, document results.

Each completed project makes the next client easier.

The Pricing Trap

Students usually underprice. This:

• Attracts bad clients
• Undervalues your work
• Creates unsustainable businesses

Starting rates should be low but not insulting. As a student:

• Too low: Free or minimum wage equivalent
• Starting point: 2-3x minimum wage equivalent
• Growing: 5-10x as you improve

Research market rates for your skill. Start slightly below market (student discount) but plan to reach market within 6-12 months.

The Value-Based Thinking Shift

Hourly thinking: "I get paid for time" Value thinking: "I get paid for outcomes"

Early on, hourly is fine. But as you grow, shift to project or value-based pricing.

Example: Hourly: $25/hour × 10 hours = $250 Project: Logo design = $400 (regardless of hours) Value: Logo for company raising funding = $2000 (based on importance to client)

The same work, priced differently. The shift comes with confidence and positioning.

The Side Project Money

Beyond services, consider building things that make money on their own:

Low-effort starting points:

• Notion/Figma/Excel templates ($5-50 each)
• Short guides or ebooks ($10-30)
• Curated resource lists ($5-20)

Medium-effort:

• Small online courses ($50-200)
• Tools or calculators (free with premium features)
• Membership communities ($10-50/month)

High-effort:

• Full courses ($200+)
• Software products (subscription or one-time)
• Full-scale businesses

Start with low-effort. Learn what sells. Scale what works.

The Money Mindset

Some students feel guilty about wanting money. This is unnecessary.

Money is:

• A tool for freedom
• A measure of value delivered
• A requirement for sustainability
• A means to help others

Wanting money is not greed. It is planning for a sustainable life.

The people who feel guilty about money often end up broke. The people who understand money end up able to do more of what they care about.

The Saving Trap vs. The Earning Focus

Students often focus on saving (don't buy coffee, use coupons, minimize expenses).

This matters, but it has limits. You can only cut so much.

Earning has no ceiling. The same time spent figuring out how to save $50 could be spent developing skills that add $500/month.

Focus on increasing income, not just decreasing expenses.

Your Assignment

Identify which income path makes most sense for your current situation (Path 1, 2, or 3).

If Path 2 (services):

• Pick one skill to develop
• Create one sample project this week
• Identify three potential clients to approach

If Path 3 (products):

• Identify one simple digital product you could create
• Research if similar products exist and sell
• Outline what creating it would require

Money is not the goal. But money is what allows you to keep playing the game.

Next: How to become undeniable—the final transformation.