Money Growing Tips For College Students
Stick To A Budget
You’re not technically making money, but you are not wasting it on unnecessary things. Sticking to a budget leaves more room for savings.
Get A Side Gig
You can always look for a job on campus, conduct online classes or supplement your income with a part-time job.
Another way to save more and grow your money is to utilise student discounts on campus, online and at restaurants and cinemas.
Many campuses require teaching assistants - and some positions pay. This is a good way to earn while you learn.
Invest Your Pocket Money
If you are in college, you’re bound to receive monthly and gifts from family and friends. You can invest this money later.
The Magic Of Compounding
With compounding, you earn interest on the deposit, and further on interest earned. So, even a small amount invested now can grow into a lump sum when you finish school.
A Systematic Investment Plan or SIP in an equity mutual fund where you invest a certain amount monthly (even Rs. 500). This is deducted directly from your account.
Equity Mutual Funds
Equity MFs are schemes that invest mainly in stocks and shares of companies.,
Grow Your Money
Equity MFs can beat inflation and grow your savings significantly. So, put your savings into an SIP & watch it grow!
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.