4 Ways to Invest Your Money Wisely Being a College Student
Moving away from home to join campus can be exciting and daunting. No one is going to do the laundry or study for you. You’ll have to learn how to manage your time effectively to get the most important things done.
In most cases, students beginning their academic adventure in college don’t know how crucial managing there is. Therefore, they end up wasting a lot of time doing low priority activities. And before they know it, they are about to graduate with no assets or savings. When you manage your time wisely, you’ll have time for everything, including investing.
Why you should invest now
You are probably wondering why you should start investing right now when you have more than thirty or forty years of doing this. Plus, you don’t have loads of cash to start investing right now. All these claims are true to some degree.
However, you don’t need to have deep pockets to start investing. Today, you can start investing with a modest $30 or $40. Stop thinking as a student and start seeing yourself as an investor. Since you’ll be spending a considerable amount of time investing, you’ll need to find someone who can do my research paper for me quickly at discounted prices.
As a wonderful human being, you must be rich. Therefore, start learning investing lessons and where to invest now. They don’t cost a dime. Here are four ways to start investing for college students.
1. Invest in low-risk CDs
Most people don’t consider a certificate of deposit as an investment. Yet, it’s one of the safest investments at the moment. By investing in CDs, you’ll receive a specified rate of interest in exchange for offering your money to a financial institution for a specified time.
This is one of the best investments to put money you are not planning to use soon. For instance, you can invest your next year’s fees on CDs. CDs are not affected by the stock market so you shouldn’t worry about anything.
2. Use a low-cost broker
Today, there are many free to low-cost brokers who will help you start your investment journey. As a student, you should search for free brokers to reduce your expenses and increase your earnings. With the rapid advancement of technology, there are free investment apps that you can use to increase your earnings at relatively low prices. The best thing about investing in low-cost brokers is you can access your money any time you want.
3. Invest consistently
If you choose to go with a broker, you’ll need to invest a small amount of money every month so that your capital does not get eaten up by the monthly fees. You can start by investing $20 every month. You’ll be surprised by the amount of money you’ll have managed to save in a year. You need to get started right away to start thinking like an investor.
4. Create an account with IRA
You might be wondering why you need to create an account with IRA and you are in college right now. Having an IRA will allow you to build your savings as early as possible. The earlier you start investing, the longer you’ll make use of the magic of compound interest to increase your time investments. Do not wait until you get a job or graduate to start investing. Start right now!
Conclusion
The most important thing about investing as a college student is having a sense of urgency. It’s easy to postpone saving and investing because you have a lot of time and energy to do that in the future. However, what gets postponed never gets done.
Start investing small amounts consistently and you’ll be amazed by your progress. You won’t be among those people who whine and cry when things get worse or those who rely on their credit cards. Falling into debt is a financial grave that very few recover from. With the smart investments discussed above, it shouldn’t be difficult for you. Plant your tree as soon as you can. Remember, it’s never too late to start.
Read also: 5 Easy Ways to Raise Startup Money for Your New Business
Bio
Emma Rundle is a professional editor and writer. She loves sharing her thoughtful ideas and opinions on financial management and independence regularly on her website. During her leisure time, you’ll find her swimming with the dolphins or traveling with her loved ones.
4 Ways to Invest Your Money Wisely Being a College Student
As a leading business development service provider in Nigeria, Dayo Adetiloye Business Hub has been recognized and certified by Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) in Conjunction with Enterprise Development Centre (EDC), Pan-Atlantic University (PAU) of the Lagos Business School (LBS).
Our solutions are designed for MSMEs and are supported by deep insight into various industries and extensive experience acquired from over the years by supporting our clients as partners in their business transformation.
Through our services and business activities, we help individuals/entrepreneurs transform their business ideas into a business venture, and support existing business to scale or expand their operation. We also connect startups and MSMEs with opportunities and resources for their business growth.
We have Consulted for more than 5000 MSMEs in the last 6 years in various industry including Agro-processing, Consulting, Training and Education, Financial Services, Waste Management, Renewable Energy, Oil and Gas, Construction, Real Estate, FMCG, Digital Marketing, Personal Branding etc.
Our Vision:
To become the leading grassroot business Hub that provides Business
Development Services in the global online community
Mission Statement:
- Provide bespoke management and business planning consultancy
- To connect MSMEs with opportunities and resources for their business startup, growth and expansion through trainings, seminars, coaching, consulting, mentoring, and Angel investing.
- To inspire, empower and champion entrepreneurship in the global online community.
Business Goals and Objective
- Engender national prosperity by contributing to the creation of at least 100 new businesses every year
- Become a go-to brand for outstanding business development services for MSMEs
- Strategic partnership with local and international organization to empower start-ups
- Continuous innovation to serve our clients better
Core Values:
Integrity
Opportunity Maximization
Digitalization
Personal Development (Capacity Building)
Excellent Customer Satisfaction
Timeliness
- Apply For Dayo Adetiloye Leadership and Entrepreneurship Fellowship (DALEF) (2021) Cohort 2. - October 13, 2021
- ENERGY AND SUSTAINABILITY BUSINESS PLAN IN NIGERIA - October 4, 2021
- TRANSPORTATION AND LOGISTICS BUSINESS PLAN IN NIGERIA - October 4, 2021
Alice
Interesting!