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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4 Reasons Why Food Handling Training is Important

Did you know that the Centers for Disease Control and Prevention estimate that each year nearly 48 million Americans get sick because of foodborne illnesses? Additionally, they state that 128,000 of those people will end up hospitalized, and a whopping 3,000 people will die. If that is not enough for you to understand the importance of food handling training, I don’t know what is. 4 Reasons Working Behind Food Handling Training However, today we are going to look at why food handling training is so important and why those in the food industry should take their food handling safety classes seriously in an effort to lower these numbers and create a safer environment for those eating out at restaurants of all types. Here are the four reasons which are working behind the organized food handling training. 1. It’s Required by Law Food handler training is required by law in most states. In fact, because of this mandate, many employees in the food industry are not allowed to handle food without proof they completed the required training. For example, Texas food handlers are required to complete an accredited food handler training course within 60 days of employment in order to continue working for that food establishment. 2. It Preserves Food Quality When a customer frequents your restaurant, they expect the highest quality foods. After all, they are not only paying you for their food, but also entrusting you to store, prepare, and serve safe, agreeable foods. Food handling training teaches people how to properly store foods at their right temperatures, and prepare them using the right equipment, so that they maintain their fresh aromas and textures. 3. It Makes Food Prep Safer Generally, those who handle food prep improperly are inviting bacterial growth to occur, which makes food unsafe from that moment forward. In fact, some foods are known to grow heat-resistant bacteria that, even after cooking, remain on the food. If this happens, the person eating said food is at a higher risk of developing a foodborne illness. Do not take shortcuts when it comes to food prep – specifically when it involves thawing of meat. Instead, follow what you learned during food handling training and take your time to do it right. 4. It Saves You Money (and Your Reputation) Let’s say you run a local restaurant that is known for serving many customers each day. In fact, you might go so far as to say you run a “local hotspot”. If one of your employees serves up contaminated food (possibly because of a lack of food handler training) and one of your customers become sick as a result, you can expect your restaurant to experience a whole host of issues: You may be liable for any doctor’s bills Your restaurant’s insurance may skyrocket, especially if you are sued Word of mouth that your restaurant was responsible for a foodborne illness will spread quickly, especially if the media gets involved Not only will you be on the hook for any immediate damages resulting from your employee’s mistake, but your restaurant also stands to lose a lot of business once the community finds out. Depending on the seriousness of the outbreak, (i.e. it affected one customer versus an actual outbreak involving many), your restaurant may never fully recover. Conclusion: In the end, even simple mistakes such as leaving food out too long, storing food at the wrong temperature, or simply cross-contaminating foods that are not supposed to mix, can result in a foodborne illness that has the potential to reach a large number of people. That’s why encouraging your employees to take food handling training seriously is so critical. Your business, and the health of everyone that frequents your restaurant depend on it. Read More : The Relationship Between Oral Health And General Health Top 5 Life Hacks Of Dealing With The Symptoms Of Menopause 8 Fitness Hacks That Will Make Your Life Better

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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?

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Related

4 Reasons Why Food Handling Training is Important

Things You Need To Know About Online Statistics Studies

6 Ways You Can Secure a 4.0 in College

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

Related