This article is AI generated and not my opinion or experience. This is a test piece for my new website.
As I sit grading A-Level Economics papers at 11pm after a full day of lectures, I can’t help but laugh at those inspirational LinkedIn posts about students with “entrepreneurial spirit” and their “portfolio of income streams.” Let’s be honest – most of us aren’t running side hustles because we’re the next Richard Branson. We’re doing it because our maintenance loans vanish into our landlord’s pocket faster than free pizza at a university event.
The Economics of Student Survival
From an economic standpoint, what we’re experiencing is a classic market failure. The higher education funding model was designed for a different era – one where student housing didn’t consume 70-80% of maintenance loans and where a summer job could actually cover your academic year expenses.
The data tells the story: since 2010, the average student rent has increased by over 60% while maintenance support has only increased by around 24%. That gap isn’t closing – it’s widening.
As I explain to my Economics tutees, this is a textbook example of what happens when price elasticity of demand is low (we all need somewhere to live) but supply constraints are high (limited student housing). The result? Those with pricing power extract economic rent from those without it.
My Side Hustle Journey
In my first year at King’s, I genuinely believed the maintenance loan plus savings from my gap year would be enough. By November, reality hit harder than a 9am lecture after Sports Night.
My solution started with what I knew best – tutoring GCSE Maths and Science. As an A* student in both, I had the credentials. What I didn’t expect was how quickly word-of-mouth would grow my little side business.
By second year, I’d expanded to A-Level Economics, charging £25-30 per hour. The irony wasn’t lost on me – teaching economic theories while living through the practical realities of income inequality and budget constraints.
When exam season slowed the tutoring demand, I picked up weekend shifts at a sports shop (my football knowledge finally paying dividends). During summers, I balanced internship hunting with more intensive tutoring schedules.
The Hidden Economics of Side Hustles
If I put on my economist hat for a moment, side hustles represent fascinating microeconomic behaviors:
- Resource allocation under scarcity – We allocate our scarcest resource (time) to maximize returns (income) while minimizing opportunity costs (academic performance).
- Labor market adaptation – The gig economy has lowered barriers to entry for students seeking flexible work, creating new market efficiencies.
- Human capital investment – Many side hustles (like my tutoring) actually enhance our skills and employability, creating positive externalities.
- Income diversification – By developing multiple income streams, students reduce vulnerability to economic shocks.
The Dark Side of the Side Hustle Economy
Not everything about this trend is worth celebrating. The normalization of side hustles masks a concerning economic reality – higher education has become unaffordable without supplementary income.
As a Manchester United fan, I’d compare it to praising players for running more kilometers when the real problem is poor tactical setup. The system is fundamentally flawed.
From my Economics courses, we know that when time is allocated to work, there’s necessarily less time for study, rest, and social development – critical components of the university experience. This creates negative externalities: declining mental health, academic underperformance, and widening inequality between students who need to work and those who don’t.
My Chemistry background taught me that systems seek equilibrium. Currently, we’re in a highly unstable state where students are expected to:
- Achieve top grades
- Build impressive CVs
- Network for future careers
- Learn independence
- And somehow also work enough hours to afford basic necessities
Something has to give.
Making Your Side Hustle Work For You
Despite these systemic issues, we still need to navigate the reality. Based on my experience juggling tutoring with studying Economics and Management, here are some practical approaches:
Find alignment when possible My tutoring directly complements my studies. Teaching concepts to others deepens my own understanding. When selecting your side hustle, look for similar synergies.
Set hard boundaries I block out exam periods and assignment deadlines as no-work zones. The short-term income loss is worth the long-term academic gain.
Charge what you’re worth Many students (especially women and those from lower-income backgrounds) undervalue their services. I initially charged £15 for tutoring before realizing the market rate was twice that. Understanding your value is an economic principle worth applying to yourself.
Track your true hourly rate That delivery app might advertise £12/hour, but after expenses and travel time, it could be below minimum wage. Apply opportunity cost analysis to your work choices.
Leverage technology for passive income I’ve digitized some of my teaching materials into downloadable revision guides, creating income that doesn’t require my active time. Look for similar opportunities in your field.
The Future of Student Economics
The prevalence of side hustles among students reflects broader economic transformations. Traditional models of education financing haven’t adapted to modern realities.
As future graduates, we’re entering a labor market that increasingly resembles our fragmented student experiences – multiple income streams, flexible arrangements, and constant adaptation. The skills we’re building through necessity now may become our competitive advantage later.
Until substantive policy changes address the fundamental mismatch between student support and living costs, the side hustle will remain not just a trend, but a necessary survival skill.
And on that note, if anyone needs A-Level Economics tutoring, my DMs are open. This blog won’t write itself, and neither will my rent check.
This article is AI generated and not my opinion or experience. This is a test piece for my new website.
