5 tips for college students on how to begin investing using pocket money

Published on: 16 July 2018 Last Updated on: 02 March 2020

According to the United Nations, India has the world’s largest youth population with more than 356 million individuals between the ages of 14-24 years.

A young population carries with it some characteristics- low savings, high splurge and little sense of investment. In such a scenario investment education becomes an important movement. While it may not be intuitive, investing at a young age is beneficial in the long-run considering these individuals are free of financial burdens, possess a higher risk appetite and are rife with enthusiasm.

Though practical knowledge is a must for students to understand the intricacies of any investment, here are 5 basic tips for any college student to take a step into the world of investments.

1. Start saving from yesterday :

Though it is impossible to travel in the past and stop ourselves from splurging on vanity products, it is vital to start saving every single day. As college students, it is easy to go on a guilt-free spending spree, but an effort needs to be made to save a certain portion of your pocket money. This can be easily done by allocating a certain amount at the beginning of the month towards investments, either stocks, fixed deposits or mutual funds. You can pay for college essay with ideas on OnlineCollegeEssay.com. You will get high-quality papers at low prices which will help you to save the balance.

Pro Tip: You can choose a minimum amount to be transferred into another bank account or investment option as a standing instruction with your bank.

2. Low-risk investment options are your best friend :

As college students and amateur investors, it is important to not be swayed by the prospect of high risk high return promises. Though it is exciting, it is necessary to be grounded and learn the basics. You should choose low-risk investment options so that you don’t lose money fast. As a young investor, always remember to balance your risk by planning and with efficiency. A planned investment can fetch you a decent return.

You should choose to invest in long-term options but can segregate a small amount to experiment with such that you can learn with experience.

Pro Tip: The market is rife with risks and uncertainties. Hence, it is advisable to approach your finance professor or family member who could guide you in the same.

3. Assess and evaluate your risk and margin estimate :

Even seasoned investors such as Warren Buffet strongly believe in calculating your risk vs return estimate. No matter what your financial background, risk appetite and goals, it is important to calculate your risk. Before investing, try to assess the amount of risk you are willing to bear and the margins below/above which you will not buy/sell. As a young investor, be ready to tackle losses and be clear in your investment options and always try to balance your portfolio.

Pro Tip: Try to approach a senior family member, ask them about their investments and the calculations they undertake. This will help you give a direction towards what you can do too.

4. SIPs – The future :

A boon for young investors, Systematic Investment Plans are an excellent investment option which offers low risk in combination with high returns. It is one of the smartest methods to mitigate the loss in your portfolio.

SIPs allow for college students to be able to deposit a predetermined amount on a certain schedule which can be attuned according to every individual. This can be weekly, monthly, quarterly or even yearly. Though a long-term option, it is one of the most sought-after investment options by early investors.

Pro Tip: Before investing in SIPs, research about various mutual funds offered by fund houses such as HDFC Mutual Fund, SBI Mutual Fund etc. This will allow you to compare options based on various factors such as past performance, returns etc.

5. Be patient and do your research :

As young investors, it is easy to get carried away by brief success or favorable market positions. But, it is important to be patient and keep learning. As you are amateur investors, the skill that you should master is the skill of research and due diligence. The more you learn about various investment options, market vulnerability and performance, the more you will be able to invest wisely.

Start with researching the company, fund house or investment tool. Though past performances will not dictate the future, understand how it does play a role in future growth. Try to analyze the various market trends and keep a lookout on the extremities.

You will find many bombarding you with information and advice. But, always remember that you are the maker of your own future. So, do your research, be patient and keep learning.

Pro Tip: Tune into various news channels to learn about market trends from various experts. You can also subscribe to various weekly newsletters and magazines for the same.

Investments are tricky, for everyone including college students. It is an exciting journey filled with ups and downs which only make it more worthwhile. You can reap the benefits tomorrow if you the sow the seeds of research, patience, and dedication today.\

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What Is The Difference Between Scrum And Agile?

Every industry and every career has unique jargon and terminology that any outsider would need help understanding. Scrum and Agile are two terms that a project manager or someone who works closely with one will understand easily. So if you are planning on starting a career as a project manager, you must know about these standard terms and the difference between them. Many individuals just beginning their careers in project management need to avoid mixing up Scrum and Agile. A huge part of becoming a competent project manager is understanding the terminology and the process of working with various tools, systems, and methodologies. Creating a thorough project plan and implementing the right tools and techniques is essential for anyone in a project management role. So start by understanding Scrum vs. agile and what is effective in which type of project. What Is Agile? Agile is a vast methodology that is commonly used in project management processes. The project team follows an agile method to offer the best value to the clients efficiently. The process is iterative, making it easy to carry out changes in software development. An Agile project is more manageable as the work is split into smaller tasks, and outcomes are tested regularly. What Is Scrum? Scrum is an Agile framework that helps in accomplishing tasks in manageable portions. Continuous improvement is the primary goal during a Scrum project. Even in the Scrum process, the project is constantly under analysis, and regular experimentations and feedback are done. Additionally, Scrum enables individuals and teams to collaboratively and gradually generate value for the organization. The structuring helps understand the workflow and make better choices regarding the tools used. Difference Between Agile And Scrum Agile and Scrum rely on an iterative process, regular client involvement, and group decision-making, meaning it is easy to confuse them. If you want to differentiate the two, you must understand that the primary distinction is that Scrum is an Agile methodology. This means that Scrum follows all the Agile principles, whereas Agile has many other methodologies similar to Scrum. However, you must also understand that where Agile does follow an iterative approach, it still delivers the full result at the end of a project. Scrum, on the other hand, divides work into smaller deliverables, and results can be expected at the end of each sprint. Let us give you a better understanding of the differences between Agile and Scrum: Agile Scrum It is a relatively newer concept introduced in 2001 It has been around since the early 1990s It is a philosophy under which many other methods are included It is part of the Agile framework You will find easy alternatives like Waterfall Alternatives of Scrum include Kanban and Lean development This iterative process results in the continuous delivery of the product This iterative process results in continuous improvement of the process It is defined by 12 principles in the Agile Manifesto Is defined by 3 pillars in the Scrum guide What Are The Other Agile Methodologies? Scrum is only one part of the Agile methodology. There are other approaches you should equally be aware of. Besides Scrum, the two well-known project management techniques are Waterfall and Kanban. Waterfall Even though the Waterfall methodology is part of the Agile philosophy, it follows a different more linear approach. Working on a project with the Waterfall methodology, you cannot go back to the previous steps once you have completed them and moved on to the next ones. Smaller projects with closer deadlines benefit greatly from the Waterfall approach as the team stays focused on smaller portions of the project and ensures that everything is executed perfectly. Kanban Another Agile technique that varies from the regular Agile philosophy is the Kanban technique. A Kanban board is a tool used in this type of project management. A Kanban board aims to enhance the project management process through workflow visualization. A Kanban board has various columns to add cards or tickets on which you can write your tasks and keep track of them throughout the project. Depending on the task's stage, you can move the card around. Read Also: Project Management in a PRINCE2 setting Important Factors To Keep In Mind Before Choosing A Project Methodology If you were wondering whether you should opt for Agile or Scrum, you approached the situation the wrong way. Everyone wants to opt for the Agile method only some understand that Agile is just an umbrella term. Consider using these methodologies on your projects once you have a firm grasp. Scrum is part of Agile, so the choice is between Scrum, Waterfall, and Kanban. So these are the things you must take into consideration before choosing a project methodology: The team you are working with and their abilities Client's expectations from the final product The time you have to carry out the project before the deadline The budget for the project All the difficulties you might face during the project The accessibility of tools you might require for the project After considering all these factors, you'll better understand what project management tools and methodologies are ideal for a project. Conclusion The amount of time it takes to produce deliverables is one of the critical distinctions between all the various Agile methodologies like Scrum, Waterfall, and Kanban. They also have different ways of planning tasks and marking what is finished. Whatever the case, Agile, and Scrum are not two different things but part of the same family. Choosing Scrum as a project management methodology indirectly means choosing Agile. Read Also: Using Project Management to Maximize the Holiday Season at Work A Guide to Choosing an Enterprise Document Management Solution A Digital Asset Management Solution Overview

Transforming Education: The Impact Of Online Assessments And Learning Solutions

Education is undergoing a monumental transformation catalyzed by technology that throws the stale textbook-and-lecture model into the swirling vortex of innovation. With students and professionals around the world grappling with rapidly changing workplace and academic challenges, the demand for flexible, efficient, and high-quality learning tools is at an all-time high. The revolution in technology solutions is more than a matter of convenience; it is a critical response to the needs of a modern, mobile, and diverse society. The Shift To Online Assessments Gone are the days when tests and exams meant nothing more than scribbling our answers on a sheet of paper. Online assessments have reshaped the very nature of testing; they allow for a personalized, adaptive approach that meets the individual learning needs of every student. A Closer Look At The Adaptive Model The adaptive model uses an algorithm that tailors the difficulty of questions and the path of assessment based on the student's responses, ensuring a more accurate reading of their true abilities. This not only reduces test anxiety but also provides instructors with detailed insights into where each student requires further support or challenge. These assessments are not bound by the limitations of traditional time constraints, and, therefore can efficiently evaluate a broad range of skills and knowledge. The Benefits Of Digital Platforms Digital platforms also facilitate quicker and more comprehensive feedback, an essential ingredient in the learning process. Timely and granular feedback empowers students to recognize their strengths and weaknesses, thus aiding in their development and goal-setting. Furthermore, these platforms often integrate tools that support different learning styles, making education more accessible. Learning Solutions In The Technological Era From online tutoring to immersive virtual classroom experiences, learning solutions in the technological era are diverse and dynamic. These tools are not only about content delivery but also about fostering collaboration, critical thinking, and problem-solving skills. The Power Of Virtual Classrooms Virtual classrooms equipped with video conferencing and collaborative software transcend the limitations of physical distance. They facilitate peer interaction, group projects, and real-time communication with teachers or trainers. Additionally, they can feature interactive whiteboards, multimedia resources, and even synchronized educational activities, which makes learning more engaging and productive. On-Demand And Microlearning The rise of on-demand educational content and microlearning offers users a library of resources that they can easily access and digest in short bursts. These resources, often available on mobile devices, align with modern attention spans and the on-the-go lifestyle. They also support continued learning and professional development as they can be integrated into daily life and routines. What Are The Main Components Of Digital Transformation In Education? (From An Educator's Perspective) There are three main aspects of digital transformation in education. Those are data reporting, data management, and data collection. Getting data from various other sources helps the school understand whether they are performing well or if they need to improve. If the data is managed efficiently, it becomes a lot easier for educators to figure out what they require and can make quick decisions depending on accurate information. In the end, getting a complete report of the global and national data helps the schools to compare the results with other institutions and get some of their best practices from all over the world. Data Collection The data is collected from different external and educational stakeholders to help the quality of education. This can include administrators, parents, students, and teachers, along with other agencies who can get some valuable insights towards improving the educational process. Data Management The main motive of data management is speeding up the entire process of managing data with the help of a centralized system. This is going to make sure that all the stakeholders can access the accurate information in time. Data Reporting Global and national reporting have improved and have made it easier for all schools to measure the effectiveness of education. Moreover, this helps educators compare their performance against that of schools from all over the world. Beyond the Buzzwords: Real-World Applications While the concepts of online assessment and learning solutions might seem futuristic to some, they are very much a part of the present-day educational landscape around the world. Schools and businesses are integrating these technologies to stay competitive and to provide the best possible learning experiences. How Institutions Are Adapting Institutions that have embraced technology solutions for education are seeing remarkable improvements in academic performance and professional development outcomes. They’re also witnessing a shift in culture, with students and employees becoming more self-directed in their learning journeys. The Long-Term Impact On The Job Market The enhancements in teaching methodologies facilitated by technology can have far-reaching effects on the job market. A workforce that is accustomed to continuous learning and development using digital tools is better equipped to handle the demands of a rapidly changing economy. This adaptability is increasingly becoming a key job skill, with technology acting as the medium and enabler. Sourcing The Best Technological Tools For schools and businesses looking to leverage the latest technology solutions, finding the right tools can seem like a daunting task. It's crucial to consider factors such as user experience, data analytics capabilities, and the scalability of a particular platform. Recognizing Quality In Education Technology Quality education technology is designed with the learner in mind, offering intuitive interfaces, robust support, and comprehensive content. Data analytics features can provide institutions with vital information on course effectiveness, student progression, and areas for curricular improvement. The Role Of Partnerships And Integration Partnerships between educational institutions and technology providers are significant as they can lead to the development of custom solutions that meet specific needs. Likewise, the integration of technology into a broader educational strategy is key to realizing its full potential — it should be harmonious with existing methodologies and future goals. What Are The Potential Challenges Of Digital Transformation In Education? Even though there are multiple benefits of digital transformation in any educational organization, there are always some challenges. One of the main issues that is most likely to arise is miscommunication or lack of collaboration and communication between the operations and development teams. There has to be proper communication between the two teams, and they need to work effectively, or there is a good chance that the entire process is going to slow down or even get to a pause. Another problem arises when any organization tries to incorporate too many new practices at a time. This can cause frustration and confusion among the team, as they are also trying to cope with everything new that is happening around them. It is better to implement things slowly and introduce new practices so that everyone gets adequate time to get accustomed to the changes. And last but not least, one of the main challenges that every organization faces these days is security. As more data is moving online every day, cyber threats are becoming more dangerous and common. Organizations need to set up comprehensive security solutions to defend their data and systems from these kinds of threats. In Summary The integration of online assessments and learning solutions into the fabric of education marks a pivotal change in the way we approach learning and development. It offers a vision of education that is personalized, adaptive, and accessible — one that meets learners where they are and takes them where they need to go. Read Also: Ten Ways Technology Is Impacting Modern Education Cégep 101: Everything You Need To Know About Quebec’s Education System

Why appearing for BITSAT 2019 is important?

Conducted by BITS, Pilani, this exam is expected to be held in the third week of May in computer test format. The application form for the same will be out in first week of January, 2019. All aspiring candidates who wish for admissions in the undergraduate engineering programmes offered at this Institute are required to submit their BITSAT application form in the online mode, itself. However, it is advisable that before filling and submitting the application forms, candidates need to make sure that they meet all the eligibility criteria’s so as to write the exam. Now, this exam is mainly conducted so as to screen and select aspiring students for admissions to various BITS campuses located at Pilani, Goa, Hyderabad and Dubai for their Integrated First degree programmes including B.E., Pharmacy and M.Sc. courses. Some of the specializations that are offered at these campuses and at BITS Pilani are Chemical Engineering, Civil Engineering, Computer Science Engineering, Electrical and Electronics Engineering, Electronics and Instrumentation Engineering, Mechanical engineering and Manufacturing engineering. If you wish to study these specific courses of study, next year, at this deemed university, then writing BITSAT 2019 is very important. Attempting it is just one part because an eligible candidate is one who qualifies the exam and also meets all the necessary eligibility criteria’s of this exam and that of the particular course of study. Eligibility criteria’s: Only those candidates who have passed their Physics, Chemistry and Biology students at the 10+2 level can apply for the B.Pharm courses, whereas those candidates who have passed their Physics, Chemistry and Mathematics subjects at the 10+2 level from a recognized Central or State board can apply for the Integrated First Degree programmes at BITS campuses. At the same time, any student who is writing class 12 exams in the year 2019 can also apply for BITSAT 2019. However, it is important that one obtains at least 60% in each of these mentioned subjects and a further of 75% in aggregate, to be fully considered as an eligible candidate to write BITSAT 2019 exam. But, attempting this exam is very important for anyone wishing to study the above mentioned courses at the Birla Institute of Technology and Science. Important dates: As of now, the admit card for this exam is expected to release between 2nd week of April to 2nd week of May. Also, the last date to send in the application forms will be around 2nd week of March. The exact exam dates of BITSAT 2019 will also be out on the official website soon. As of now, it is already mentioned that the application process for this exam will go live on the official websitef. All students while filling in the online BITSAT application form, will have the chance to choose up to three exam centres in the order of their preference, and also the time slot for the exam. Overall, the exam will be of three hours duration, comprising of about 150 multiple choice questions for each section for the different subjects of Physics, Chemistry, Mathematics, English Proficiency and Logical Reasoning. So, that’s about; a small gist about the importance of writing BITSAT 2019 exam. If you haven’t begun your revisions, well, now is the best time to do that. The sensible thing to do now is to practice more with mock tests, sample question papers, model papers, or perhaps join coaching centres for better goal oriented result scores. All the best!

5 tips for college students on how to begin investing using pocket money

1. Start saving from yesterday :

2. Low-risk investment options are your best friend :

3. Assess and evaluate your risk and margin estimate :

4. SIPs – The future :

5. Be patient and do your research :

Using the aptitude test for hiring a Pilot

How Can Critical Thinking Help In Your Daily Life?

Content Rally

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

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Related

What Is The Difference Between Scrum And Agile?

Transforming Education: The Impact Of Online Assessments And Learning Solutions

Why appearing for BITSAT 2019 is important?

5 tips for college students on how to begin investing using pocket money

1. Start saving from yesterday :

2. Low-risk investment options are your best friend :

3. Assess and evaluate your risk and margin estimate :

4. SIPs – The future :

5. Be patient and do your research :

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Using the aptitude test for hiring a Pilot

How Can Critical Thinking Help In Your Daily Life?

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

Leave a Reply

Popular

Follow Us

Recent

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