Both guys and gals can benefit from an article I just discovered in the September 2010 issue of Glamour Magazine, and no, it isn’t the “12 Naughty Questions You’ve been Dying to Ask” (Yes, Glamour, thank you, I do have twelve questions . . .

Now that a solid month has passed in the school year hopefully you’ve established a routine on campus. While there are many things that might remain in question ( like exactly HOW you ended up in a class called Star Trek and Religion... Oh, yeah, that’s real there are few things that are certain; like the fact that you can definitely use some extra cash flow.

After buying all those books and a trendy florescent lamp from IKEA which made your room look uniquely like everyone else’s, you might have started thinking about how you can earn some extra money in order to stay out of the red.

There are, of course, work study programs, on campus jobs, and some off campus jobs that will hire you. The problem a lot of times is:

1)      Finding a job that will work around your school schedule.

2)      Finding a job that will work around your social schedule.

I think priority number one is the education you’ll obtain while on campus, but the relationships you build during college are also very important. And yeah, maybe you can get a job at the local pizza place, but if you are delivering pizzas while all your friends are playing intramural sports, attending concerts, and otherwise making memories you COULD feel a little left out in the cold.

Alone.

Just you and the pizza.

A pizza that doesn't even belong to you.

Sad.

Don’t get me wrong, working AND going to school is HARD and noble for those that do it. I'm not putting down anyone who works for anyone else, especially a small business (the usually have the BEST pizza).But, what about working for yourself? That way you can be your own boss, do something you like, AND work around your personal schedule.

YoungUpstarts.com is a website which provides advice to young people wanting to start their own businesses. They have outlined 6 Tips, which I bring to you today, exemplifying why it could be beneficial to start a business while in college. Ready? Okay , here we go!

1. Campus Advisory Board – Is there a school of business on your campus? If there is, you will have access to entire advisory departments: finance, management, marketing, accounting, legal and more.  Professors are more than willing to help use their expertise and connections to see a student from their school succeed in the business world.  Start your business and don’t hesitate to ask for help. These PhD’s are often well networked and experienced.

2. Word of Mouth – Word spreads quickly on campus and it will be your cheapest form of marketing.  There is no better endorsement to buy a product or service than having a recommendation from a friend.  It’s almost like hearing “Hey, everyone is going to this party tonight, you have to be there.” Napster music sharing service started in a college dorm room and spread like wildfire because of the students’ proximity to one another.  Use this to your advantage.

3. Technology - Colleges are a hotbed of technology and people who understand it.  Chances are your school offers WiFi, copy and fax machines, scanners, software, a high tech library, students walk around with cell phones, iPods, and laptops.  You are in one of the most well connected places on earth – take full advantage.  Everything that you need to start your business is right infront of you.  In a real bind? Make friends with the IT department and they will help you out. 

4. Campus Resources – Many colleges have amazing alumni networks, incubators, and entrepreneurship clubs set up already.  If they don’t–look into creating a chapter of the Collegiate Entrepreneurs’ Organization on your campus.  The more entrepreneurial people you surround yourself with the more driven and motivated you will become.  Entrepreneurship is a long hard battle, you will need a quality support group.

5. Access to Cheap Labor – Your college or university is full of young people trying to gain new experiences and a little bit of spending money.  Need help with your business? Look no further than other college students.  Many students will do unpaid internship if you make the experience worth their while.  Find other entrepreneurial minded students and pay them a commission based salary or find someone who wants to work part time for an hourly wage.  Need web development done? Ask around campus or post a job with your Career Services Center.

6. Now is the Time – Don’t wait until you have a mortgage and kids to start your business, do it while you have some breathing room attending college.  You could be out partying 24-7 or you could make the sacrafice now.  You might even have the option of moving home after graduation and boostrapping your business from your parents basement.  Tackle the challenge of starting a business while you have a crutch to lean on.

Questions? Comments? Like what you read? Want to choose the subject of the next blog? Let us know. Send us an email or leave a comment.

"day in the life: lunch money" courtesy emdot via Flickr Creative Commons

It's summer break. You don't necessarily want to work, but you need the money to support your social life. If you're not cute enough to run that little lemonade stand like you used to, then it's time to find another way to improve your summer cash flow. Luckily, there are numerous opportunities for you to make some side money. And you can do this by using the skills you already have!

I met my good friend Valerie my freshman year of college, and I remember her telling me how she got paid for making company advertisements using her expert Adobe Photoshop skills. Here are some other clever ideas to earn some extra cash:

1. Social Marketing Consultant: So it sounds like a fancy job title, but in reality, you can simply use your Facebook, Myspace, Twitter, etc. skills to help companies with their marketing efforts. If you're going to be on Facebook anyway, why not get paid for it?

2. Write Product Reviews: If you want to complain or rave about something you bought, write about it! Voice your opinion while typing reviews for places like Epinions.com or ReviewStream.com.

3. Sell Stuff on eBay or Have a Garage Sale: Mom and Dad must have some kind of junk lying around in the house. Turn that clutter into profit! It wouldn't hurt to find that old box of toys you used to play with either. The neighborhood kiddies would definitely appreciate them.

4. Take Online Surveys: You can complete surveys through legitimate online survey sites, and get paid for it. Sounds easy doesn't it?

5. Take Pictures and Sell the Photos: Keeping it strictly PG, you can make money as a photographer. Lots of sites are looking to buy digital photos such as Shutterstock.com or 123RF.com.

6. Tutor: Are you a math or science whiz? Many parents are willing to pay for someone who can help their child develop skills and succeed in certain academic areas. Opportunities can range from designing web logos to joining a focus group.

These are just a few ideas out of the endless possibilities… Do some research and earn yourself some cash this summer!

"Lemonade stand" courtesy EvinDC via Flickr Creative Commons

Guest Blogger Jane Lovas' weekly series called “What I Wish Someone Had Told Me About Life and Career” runs each Thursday

You landed your first job. Now, finally after years of scrimping and begging, you have your own money. Well maybe the scrimping and penny-pinching hasn't changed, but you still have your own money. Now what are you going to do with it?

As tempting as it is, this isn’t the time to go buy that fancy new car, new furniture or designer clothes. The very first thing you should do is take a look at the concept of Paying Yourself First.To be clear: buying all the stuff you want is not paying yourself first. That is paying the bank and the stores first. Think about this for a minute; you buy a car for $20,000 and in 20 years what is it worth? Not much! More than likely you’ll have spent money on 4 or 5 more cars (if you keep each one for 4-5 years). If you trade them in and even get $4,000 for each one in 20 years you’ll have paid the bank and the dealership $88,000, and what do you have? A 4 year old car worth about $3,000!

Let’s take a look at the principle of Paying Yourself First. Instead of going into a lot of debt for new wheels, you decide to buy a used car or use mass transportation until you’ve saved and gotten a pay raise. Now, instead of making a $300 per month car payment, you can put $100 per month into savings or investments and use $200 for a used-car payment.

This chart assumes a monthly investment of $100 at 8%. In 20 years you’ll have paid the bank and the dealership only $72,000 but you have $59,000 saved! In 30 years it gets better (even after you've stopped investing $100 per month); you’ll have only paid the bank $24,000 but be worth almost $150,000:

Time Period 10 years    20 years   30 years

Total invested $12,000   $24,000    $24,000

Account value $18,294   $58,902    $149,035

Of course the more you save and invest, the more you’re likely to have. The secret is to take some money now and start paying yourself first by investing it. Later, as your income increases and you gain more experience with investing, the more you’ll be able to do.

Remember every time you spend money you are paying someone else, so make sure you are paying someone else for something that is going to enhance your life. So pay yourself first, then decide what things are important and at what level. Maybe you want the money to start your own business or take a trip, you get to decide.

Do you have to have the most expensive stuff? If so, think about how those things enhance your life and what the real cost is of having them is before you pay others for (i.e. go buy) the things that bring you long-term enjoyment.

Jane Lovas is a career specialist who is the creator of the life changing 12 week tele-seminar “Creating the Life of Your Dreams”. She is also our guest blogger, whose column will run every Thursday. If you would like to contact Jane, you can reach her here, here or here.

"100 Dollars Money by Photos8" courtesy Photos8.com via Flickr Creative Commons

Winter break has finally arrived. It's time to enjoy the season, but those of us with potential cabin fever and a need for some green should definitely check out some of these online competitions going on until their respective January deadlines.

Hey ThinkTalkers! I’m the newest staff member here at ThinkTalk headquarters. I just graduated in May, and spent more than three months looking for my first job. I landed in D.C. with the rest of the ThinkTalk crew, and now I’m busy figuring out how to navigate my first job and the capitol city. Since we know that job hunts aren't all sunshine and butterflies, I hope I earned some war stories and wisdom to pass along.

Welcome to the Daily Roundup. Each day at the ThinkTalk Blog we will post some links that we find informative, interesting, or just plain funny. The goal is to let you know what else is going on out there, and ultimately help you with the development of your career.

I don’t have a whole lot of links today (quit slackin’ in the short week, bloggers!) so instead, I will relate a quick story.