Wealth doesn’t have to be a mystical puzzle that should take you donkey years to crack. In the words of the young investor who started investing at the earliest stage of his life, the well-known Warren Buffet, he said “ “Someone’s sitting in the shade today because someone planted a tree a long time ago.”
This explains why investment is important. At age 11, he made his first stock purchase at $38 per share, and he further bought his first real estate investment at age 14. The story has a bit of a twist in it, as many have said, and I quote: “Buffet started his company with $100 of his own money and roughly $105,000 in total from seven investing partners, including his sister and some other relatives.” But enough of Buffet; investment is attainable and can be learned regardless of the amount you have in your pockets right now.
In this article, we will dive into a few things you want to consider to be able to grow wealth as a student.
1. Begin Your Investment Journey with Education:
I know you’re probably all about mathematics. You want to put your money in a program, setup, or system and multiply it in the shortest time possible. I understand how you want to get into the game quickly.
However, the investment trend is quick to break even the best of investors, so you want to go for knowledge first.
Read books about investment, listen to podcasts, follow individuals who share tips and strategies on the scope of investments across different fields.
2. Manage Your Funds Adequately:
Investors are good friends of money. They understand how to create a balance between fun and frugality, and this is what you want to develop a mindset for.
Managing funds will require being able to save, budget, and allocate your money the right way and to the right channel. You want to cut down on many unnecessary things to achieve more investment power.
If you can’t manage your personal finances well, you can’t manage your savings portfolio, hence the reason for proper money management skills.
3. Invest Early:
Investment can take diverse forms; you could buy stocks, S&P 500 Index funds, or bonds, real estate, etc.
However, as a student, you may not have the financial capacity to get involved, but you can begin honing your investment skills as early as now. It starts with looking around, finding a project, business, people, stocks, courses that are worth your money and can give a return and truly putting your money into it to watch it grow. The earlier you begin, the faster it is to master the art.
4. Learn, Monitor, and Repeat What Works:
As stated earlier, knowledge and implementation allow you to know what works and what doesn’t. You get to test the waters yourself, see how things are, repeat, and readjust to fit best.
Investing is an exciting job title, and you can own it if you begin now.
This is my hint if you still wallow in the circle of “how do I start,” and all the mentioned means cannot give you the picture of what you need, you can try this out –
Invest in your room as a student and lease it out as a temporary stay for those who need a place to lay their head for the night.
To do this, log on to create an account with hostel.ng, upload your room, and await bookings.
This way, you own the room to yourself and still make money as much as you want.
