It’s good that you think about investing at an early age. This is because when you become old, you’ll have capital and additional money. You won’t necessarily have to be worried about your financial condition.
There are three ways you can invest when you’re a student: time, body, and money. We will go through money investment in detail in this article.
If you want to invest your money, you should have a minimum of $1000. If you want to invest less, you can, but it’s a good idea to save your money and wait while you’ll collect the proper amount.
Put Your Cash in the Bank
The easiest way to invest your money is to put your cash in the bank. Keep in mind that banks have low rates that are rarely higher than inflation. As a result, after several years, you won’t receive a large amount of money because of inflation.
You can fix your cash in the bank for multiple years. In such a case, your amount of money will be bigger, but you can’t take your cash for the period of fixation. Are you ready to say goodbye to your money for a long period? Okay, try this method.
House hacking is the second way you can invest simply. How does it work? You need to rent a flat or house and then to give rooms in this dwelling for rent. This way requires big money investments at the start. But giving room for rent, you’ll pay off the dwelling cost and then make a profit in the future.
As you see, this way of investment should constantly give rooms for rent to pay off the dwelling cost.
Likewise, you make a double profit because dwelling costs will increase in the future. Therefore, by giving rooms for rent, you can save money and buy two houses or flats you’ve bought several years ago.
If you can’t invest in property but like to invest in real things, you can consider crowdfunding. Crowdfunding is an investment in a startup. When this startup starts to make a profit, its creators bring your money.
Crowdfunding is full of risks. This is because you can give your money to startupers whose projects won’t be successful. Be ready to doomed projects and wasted money.
Most crowdfunding websites are open only for accredited investors. Yet some sources are open for all people who want to back new projects. For example, you can visit Fundrise, RealtyMogul, or Groundfloor.
Buy Precious Metals
Precious metals such as aurum, silver, platinum can bring you a lot of money in the future. You should only buy some of these metals. After years, you can sell them and make more money than you’ve given because of inflation. Costs are increasing, including precious metals.
Clean Antique Items
If you have an antique item, art, stamps, or something else, you can keep it for multiple years and then sell them. The fact is there are lots of fanciers of old and antique items. Such people are ready to give you a large amount of money for these items. And the older the item, the more expensive it is.
For example, people in Russia can sell their stamps, postcards, and money they’ve saved since the time of the USSR. If they keep such items more, they get three times the money ten, twenty, or fifty years from now.
Or if you have old wine, you can also keep it. The older the wine, the more expensive it is, too. Therefore, you can sell it to wine fanciers ten years from now or even keep more time.
Make a Startup
If you have something to share the world with, you can make your own startup. There are a lot of ideas for startups: you can create an online course, become a blogger, organize a delivery service, the list goes on.
Consider how it works on the example of blogging. Publishing posts and promoting your blog, you grow big and turn from an amateur into a professional blogger. When you have enough followers, you can sell advertisements on your blog. For instance, having 1000 followers on the Telegram channel, you can sell ads. Likewise, you can refuse your advertiser to place ads if you think they don’t fit your channel.
How to Find an Idea for a Startup?
Think about what you can share the world with. How can you make people’s lives better? Answer this question, and you’ll find an idea for a startup. For instance, you can launch a blog where you will publish ProEssayWriting reviews, the allassignmenthelp review, or reviews of other writing services. When you grow big, you can earn money on your website by selling ads.
The Bottom Line
You can read Warren Buffett’s book and get some tips on how to invest your money. Likewise, you can get inspired by this man. Find your own ways to invest in. Maybe you’ll lose interest after multiple weeks, but you should realize that you’ll see appreciable results only when you become old.