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I recently published a blog post about [How I Started My Side Hustle as a Student](https://inleo.io/@anonymous02/how-i-started-my-side-hustle-as-a-student) and I mentioned that I will share the secret on how it works. 
 https://img.inleo.io/DQmeXtfzcRrCB2yBcp1BtGVvM8ppzHpgfACFbmBCFnhqtdU/You%20Should%20Not%20Tell%20Your%20Business%20Secret%20and%20How%20My%20Side%20Hustle%20Works.png 
This is not a secret for some people but the customers are not seeing the big picture about this, or maybe they find it more expensive. Before the school year, I think of the idea of starting a side hustle at our boarding house.

I serve as a **third party for receiving and sending money** from the parents of my customers which are students who are also my target customers. There is an e-wallet in the Philippines called **Gcash**. It is an online wallet where you can send and receive money, top-up mobile data, and pay your bills.

It has more features including Gcrypto, Gfunds, Gloan, etc. It has more products and features to offer but since my customers are students, I often use the send and receive money and also topping up mobile data (load). 

When someone sends money to my account, I have prepared cash for the customers to claim it then as for my service, they are paying around **1.5% of the amount** (not fixed). Here is the summary of the service fee that I provide.

- PHP 1,000.00 has a PHP 15.00 fee
- PHP 400-500.00 has a PHP 10.00 fee
- Less than PHP 400.00 has a PHP 5.00 fee.

So, if someone sent **PHP 1,300.00, I am taking PHP 20.00 for my service fee**. This is a popular service business in the Philippines and as part of my strategy, I lowered the price for my fee because other stores are taking about **2% service fee.**

Now, when I am running out of funds, I am using an ATM card to withdraw my money. I use a Gcash Mastercard that I bought for **PHP 215.00** a year ago. It was my strategy, to use an ATM card and let the money circulate by sending and receiving money.

Through this process, I already made PHP 3,000.00+ since last year which somehow helped me to buy my wants and needs.

Now you know how I am earning money, let us discuss the expenses. In my previous post, I mentioned that I am already spending PHP 1,000.00 for the fee. For every Gcash Mastercard withdrawal, I am paying a **PHP 16.00 to PHP 18.00 for every transaction.**

So, always withdraw in bulk which is around **PHP 5,000.00** for every withdrawal because I am saving fees instead of withdrawing **PHP 1,000.00 every thousand**. I know that I can lower the expenses by using the card offered by the bank.

But the problem is, I cannot get a debit card from any traditional banks because they are asking for many documents that I currently don’t have such as electric and water bills, etc. Now, since Gcash is now getting more issues, I am only using it for sending and receiving money but I am now using GoTyme and Seabank for storing my cash.

Since GoTyme has a card, it is the one that I am also using instead of Gcash. 

## Why you should never tell anyone your business secret?

I told myself that I would never tell anyone my secret in this side hustle because if you think about it, saving **PHP 215.00** to buy a Gcash Mastercard or getting a GoTyme card for FREE will save them a lot if they are withdrawing a huge amount. 

For example, if they are cashing out **PHP 2,000.00**, they will pay me **PHP 30.00** for my service fee, but if they withdraw it to an ATM, they will only need to pay which is **PHP 16.00 to PHP 18.00** for the fee.

One friend of mine asked me about the fee that I am paying for withdrawing and I will tell you, I was stopping myself not to tell them but since you can also just search for it, I just told them. 

Now, there is a time when someone wants to cash out their money, this same friend told my customer that he can offer the same service with a little lower fee. 

**I just made a competitor;** he could be more profitable in the long run because he is not also paying fees from the ATM because they have a card from the traditional bank.
 https://media.tenor.com/Iln7c5f1SDYAAAAC/its-business-jack-donaghy.gif 
Nevertheless, the same friend saw my situation where I am struggling financially more than him so he offered that I can withdraw from him where he only asks for **PHP 5.00 to PHP 10.00** service fee. This is also a huge help for me to save on fees.

But now, since I am struggling financially, I don’t think I can continue the side hustle next academic year because I have no funds or capital right now. I already spent a lot on my school and I badly need the money for my OJT this summer break. For now, I am thinking of any other side hustle that I can do to provide for my needs; it is tough to be broke.

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