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Posts tagged as “Finance”

Where to Invest Your Money

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Once your income exceeds your needs, you have two choices: either you start buying more luxurious things, or you can invest your money. If you choose to spend your money, you’ll end up with nothing for the future. But if you invest it, your money will multiply in the future, and you’ll be able to afford twice the luxury items you’re probably thinking about right now. This is why we highly recommend investing your money instead of spending it right away once you have an excess.  But for those who have never invested in anything, you might not know where to starts. Here are a few things you can invest in for starters.

 

stock ratesStocks

A lot of people say that investing in stocks is difficult and ambiguous. It is just like gambling, one day you win, the next you’ll lose. However, investing in stocks can be continuously beneficial if you know how to play it right. The first rule of investing in stocks is to never go all out. Don’t invest every penny just yet, save some for if things do go downhill in the stock market.

Next, you’ll want to do research on which companies’ stocks are worth investing in. It could be a start-up business with promising future prospects, or an already successful company. If you don’t understand much about business and economics, you can always hire a financial advisor, but this does require you to spend some money. You can also just take it slow, decide how much you’re willing to invest, and read The Forbes a little more.

 

house behind maple treeHousing

When we say housing, we don’t mean buying a house. Although, if you do want to buy a house, that would be an investment as well. Being a property owner has a lot of perks, whether it being a house or an apartment, and type of land ownership is an investment. You can buy a property and sell it in the future, where the prices might go up if you choose a housing that is high in demand.

Look into strategic locations and the properties that are developing around it, and you can buy one for when the heap starts. Most property developers will start selling even when the property isn’t done yet, so this is your window to invest.

 

The most important thing about investment is to be smart and careful. Don’t invest every single penny, and do your research before making any decision.…

Managing Expenditure as a College Student

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jeans no money pocketsWhy It’s Important

If you are currently living in a dormitory or even abroad, you know exactly why this is important. Not living with your parents means that you’ll need to find your own food for the day, you’ll need to buy your own necessities such as soap and cleaning tools, and all that. Moreover, you’ll need to cover medical supplies for when you get sick.

Trips to the mall and grocery stores are funded by yourself.If you can’t manage how much you spend, you’ll end up running out of money by the end of the month, and have to cope with ramen noodles for one week. It would be a miracle to not end up with indigestion or some sort. Managing your expenditure is not just about financial stability, it is key to maintaining your health and well being.

 

How to Manage

Managing your expenditure has to come from yourself. Without determination, you might still be lured to spending your dinner money for that gorgeous pair of shoes you saw online. Thankfully, the digital era has provided us with plenty of easy financial management applications. You can note your expenditures there for around two weeks, and make note of how much you’d initially spend for food, entertainment, etc.

Then, you can set up a budget for the next two weeks, making sure you don’t spend more than, for example, $20 per day for food.  You can even go as far as setting a withdrawal limit to your debit cards, so that you don’t withdraw a more than necessary amount of money per week.

 

pink piggy bankShould You Start Saving?

Yes! The answer is always yes. It is never too soon to start saving money. Why? Because it will also be useful for something. If it’s hard for you to save without a cause, then start a cause! It could be something small, like saving up for a music festival or for a holiday trip. When you’re used to saving money, it would be easier for you to save up for bigger things, like a car or even a small apartment.

You can save your money in a separate bank account, to make sure that none of your saved money gets accidentally withdrawn for daily expenditures. It doesn’t have to be difficult, you can start by saving $5 per day, and by the end of the month you’ll have $150. Maybe you could use that for the gorgeous pair of shoes we discussed earlier rather than using your dinner money!

 

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