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

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

According to the United Nations, India has the worldโ€™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 donโ€™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 โ€“ 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.\

Read Also :

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.

View all posts

Leave a Reply

Your email address will not be published. Required fields are marked *

Related

HVAC Technician

How To Become A Certified HVAC Technician In Canada

The technology of heating, ventilation as well as air conditioning that is meant for vehicular and indoor environmental comfort is known as HVAC. The installation, maintenance, and repair of heating, refrigeration, and air conditioning systems are carried out by HVAC technicians. If you desire to become a certified HVAC technician in Canada you need to explore the latest market trends and research in detail about the valuable skills required by the employers in the current scenario. Let us dive into the details of this stepwise guide what it takes to become a commercial HVAC contractor in Canada. How To Become A Certified HVAC Technician In Canada: 1. Getting a GED or a High-School Diploma : Becoming an HVAC technician calls for an in-depth knowledge of the technical sciences and math. You can start with your HVAC while you are in high school by selecting courses that are beneficial for your field. Some of the relevant courses include Physics, Chemistry, Computer Science, etc. If you know how to use power tools beforehand then it will be comparatively easier for you when the real training begins. Mechanical drawing courses are nowadays provided by many schools that provide a direct practical knowledge of the technical field. 2. Opting For a Formal Technical Training Or An Apprentice Program : The best way of learning a skill by heart is to assist experts in their work. Depending on your pace of learning, the apprenticeship can go on for 3-5 years. It provides an amazing opportunity to earn a few bucks while learning what it takes to become a skilled technician. From insulating refrigerator lines to soldering and cutting, a trainee is made to perform tasks that help him understand the practical applications and requirements of the job. Only when you work with real tools and in the appropriate environment, you develop the ability to efficiently carry out technical tasks with full expertise. The training enables you to learn the use of the tools in detail and how to use them safely for handling technical requirements. It develops your troubleshooting skills and the aptitude needed to handle different kinds of customers. The biggest perk of opting for a formal training program is that it provides you an edge over the crowd out there. 3. Obtaining Certification : Technical academies, trade schools, and community colleges provide certifications or an associate's degree to the aspirants. The programs provide theoretical as well as practical knowledge of the course along with access to various internship programs. They teach applicants about exercising safety measures in the work environment and how they can utilize the fundamentals of electricity, fuels, furnace, boilers, and hydraulics during work. In order to obtain a certification, you must pass a written and practical examination. The biggest advantage of obtaining a certification in HVAC training is that it makes far easier for you to seek up jobs in the field of your choice. A certification builds up a certain level of trust and the employer considers you qualified and skilled for the job. 4. Getting Licensed : Most of the states and localities require HVAC technicians to qualify for a license in order to practice. In order to obtain a license, you need to clear a state exam. Depending on the state you live in, the requirements for a license can vary greatly. Some states demand 2-5 years of work experience in the same field before they license an aspirant. Getting licensed is the peak of your career as an HVAC technician. Conclusion: Just like any other field, being an HVAC technician requires a step-by-step process involving education and formal training. Therefore, if you aspire to become one, it is time to rise and work towards acquiring your dream job. Read Also :  13 Ways To Maintain The Coolness Of Your Air Condition Unit 5 Reasons Why You Should Get Your MCSA Certification Today

READ MOREDetails
GRE

Top Tips for Conquering Your GRE Prep

Preparing for the GRE always comes with a set of challenges. While it is important to have the right information, one of the most common pitfalls during this process arises because of a sense of laxity. In essence, as you prepare for the GRE, knowing what you need to do is as important as knowing what you need to avoid. In this article, we are going to discuss some important tips that will help you in conquering your GRE. Get a GRE guide: Since there are various guides on the market, you should consider getting one. GRE guides provide one with actual practice sets that you can use, and they are super easy to get through a certified GRE tutor. You need to be familiar with various types of questions as a way of ensuring that you get the right frame of mind before sitting for the exam. The most effective way of preparing for the GRE is practice. Setting aside time to intentionally practice increases the likelihood of improving your scores. Be diligent: Faced with an array of demands, getting time to prepare for the GRE can be quite difficult. As such, it is highly recommended that you develop a plan and strive to stick to it. This calls for a high level of diligence. You can also consider seeking the services of a GRE tutor to help keep you on track and set up a study schedule that fits your needs. Read widely: Reading through the dictionary can be quite tedious if not outright boring. As such, if you are looking for ways that you can apply to improve your vocabulary consider expanding the subjects and genres you normally read. Reading many books helps the reader develop new ways of thinking. Studies reveal reading material from different sources boosts memory and enhances a person's ability to learn new vocabulary. This is an easy and convenient way of learning new words compared to trying to cram new words in before the exam. It is also important to avoid focusing on only one subject. Focusing on only one subject can be dangerous since you are not sure what will be examined. For this reason, it is advisable to make sure that you prepare adequately to avoid surprises. Sign up for a prep course: Though expensive, prep courses have qualified GRE tutors who teach various areas. While some students opt to learn on their own, the reality is this denies you the opportunity to have a well-balanced interaction with the material. Taking a prep course gives you an opportunity to interact with instructors and ask all manner of questions. In the end, it is an easy and effective way to eliminate false or wrong answers during the exam day. Do not let stress overwhelm you: Even though this exam is critical when it comes to getting into the right graduate school, it is possible to take it several times. Furthermore, most of the graduate schools focus on the grades you got along with your GPA. However, this does not mean that you should not study. Keep in mind that you paid for it and therefore you should strive to excel. What we are saying is that you are more likely to pass this exam if you get your strategy right and work within a well-constructed study framework. Read Also: Online Services To Help Student How To Crack Civil Service Exam In One Attempt 10 Tips To Memorize All Necessary Information Before Exams MAT Registration For February Session Started; Here Is The Complete Exam Schedule

READ MOREDetails
non toxic pens

How To Find Quality Non Toxic Pens?

There are numerous factors that affect dyne levels. If you are not achieving proper dyne levels then you should start with knowing your dyne level of the material before treating. It is important to know the starting and ending treatment levels. You should look for quality dyne pens that offer a fast, simple and safe way of testing surface energy. Dyne pens used to come with toxic solutions like formamide, which were not completely safe. However, today, you can easily find excellent quality non toxic pens that make your operation safer and easier. You can also buy non toxic pens that give easy to read results on a different range of surfaces. These non toxic pens are manufactured to show surface treatment levels on polymer-based substrates. They allow you to ensure that the material is treated in a perfect way before applying adhesives, coatings, inks or paints. General Guidelines For Using Dyne Pens: Avoid using the excessive solution as it will turn out to be a false reading. Usually, quality dyne pens have a shelf life of six to twelve months. Every pen comes with a rating for the minimum dyne level, which is determined by the ink. When there is a requirement of surface energy testing, it should be done right after treatment such as RF gas, chemical plasma, air plasma, and flame plasma. Treated surfaces are prone to get affected by environmental factors like humidity and temperature. So it should be properly used at the right time. One should strictly avoid touching or contaminating the surface to be tested. Unclean surfaces of test level areas should be cleaned as there are high chances of such surfaces losing their wettability. Avoid using outdated and contaminated pens. Use the pens at room temperature and store them the same way. Repeated ink exposure to air will surely change the dyne levels. If you want to avoid this then use only perfectly sealed dyne pens. It is also important to ensure that the inks should not get exposure to direct light, so when you are not using it, keep them closed. Keep the pressure consistent. If the pressure is inconsistent or excessive then there is a risk of getting false dyne level reading. There is no need to stick with poor quality products as it is not good enough for your operations. One should always opt for the advanced equipment available in the market to make the whole operation simpler and safer. Moreover, dyne pens are also known as non-toxic pens. These pens eliminate any long quality-checking process as you can tell if the surface is ready for printing or coating by testing the wetness of the surface! Benefits of Dyne Pens: No Scrap Business There are many businesses where you need to worry about the waste and damage that occurred due to the production and testing of the products. But that is not the case with the Dyne Pens, as there are no chances of scrap or waste. That is because while testing the Dyne Pens have no scraps or damages occurring as it could be reproduced with the changes. Immediate Results With Dyne Pens, you can receive instant results because you need to draw is 3 parallel lines and it comes immediately. While if the beads are formed or begin to shrink then you must try drawing lines with non toxic other pens. Based on the results, you need to figure out the substrate level of the surface. Easy to Use Using Dyne Pen is not rocket science, all you need to do is 3 lines and you will get results within 3 seconds. While you can ask any person who is well-versed with Polypropylene and Polyethylene treatments to perform the tests and evaluate results without any equipment or machines. Read Also: Put Your Pen To Paper With Ease 7 Tips For Writing A Perfect Cover Letter

READ MOREDetails