5 (Five) Steps To Start Investing as a Student

Carefully read the inscriptions on the image above, you will agree to the fact that student need to start an investment for themselves. It is to this note we have decide to share this  5 (Five) Steps To Start Investing as a Student 

Investing is actually pretty simple; you’re basically putting your money to work for you so that you don’t have to take a second job when you graduate. Most people think you have to be super rich to invest. This is not true, you do need some assets, but even students have something they can do that will launch their investment career. How?

Follow the steps below:

1. Examine Your Finances

Jumping into investing without first examining your finances is like jumping into the deep end of the pool without knowing how to swim. Know how much you have, this includes physical cash, assets, such as belongings and your savings.  Luckily, investing doesn’t require a significant sum to start.

2. Establish Your Investment Goals

Why are you investing? Sounds like a simple enough question but many people can’t answer it because they haven’t fully articulated what they want their money to do for them. Are you putting money aside towards rent? A car? Retirement? Building assets? The reason you are investing will determine what kind of asset classes you should invest in.For you, it might be that you don’t wnat to have money troubles when you graduate.

3. Learn the Basics

You don’t need to be a financial expert to invest, but you do need to learn some basic terminology so that you are better equipped to make informed decisions. Learn the differences between stocks, bonds, mutual funds and certificates of deposit (CDs). Read a lot of books, make sure the books have to do with your own environment.

4. Pick an Investment Firm

After you have saved up some money and have a clearer idea of what your investment goals are, you need to speak to a professional. The reality is no matter how skilled you are in your business or line of work you may not have the skill or patience required to pick the best investments. Commercial banks offer some great savings products but an investment firm gives you a wider range of investment options that include stocks, bonds, real estate and other investment opportunities. pick the right one.

5. Keep Emotions At Bay

Don’t let fear or greed limit your returns or inflate your losses. Expect short-term fluctuations in your overall portfolio value. As a long-term investor, these short-term movements should not cause panic. Greed can lead an investor to hold on to a position too long in the hope of an even higher price – even if it falls. So always listen to your broker or stock adviser with a clear head.

After reading this and you have come to a conclusion that there is a need to start something for yourself, ScholarshipNg will be glad to show more investments in Nigeria that is tested and trusted you will like to invest into.

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