Investing Money While In College

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by Isabel Nielsen

Students Investing Money

Investing money while in college many seem like an impossible venture. Most students are faced with formidable tuition costs and hefty student loans. The notion of actually saving money during your college years may be overwhelming but it is quite possible if you follow a few simple steps.

First and foremost, college students have more resources than they think. Even if you can just put away a few dollars each week, you are still working towards creating a sound investment portfolio even during your university years. Ten or twenty dollar a week doesn’t seem like much but it adds up quickly.

Remember to pay yourself first. So many students fail to see that they should pay themselves for the work that they do. Most suggest that ten percent of a person’s income should go into retirement or into savings. When investing money while in college, you can opt to go for this lofty goal or you can opt for a smaller amount.

List your sources of income. Work Study programs are designed to help students pay tuition. However, some of this money may go above and beyond the basic tuition payments. Anything above your basic tuition costs can be rolled into a savings account, an IRA or into mutual funds.

Quote of the Day

[B]y going to the College [William and Mary] I shall get a more universal Acquaintance, which may hereafter be serviceable to me; and I suppose I can pursue my Studies in the Greek and Latin as well there as here, and likewise learn something of the Mathematics.

—Thomas Jefferson (1743–1826)

Since most college students are young, they have the unique opportunity to go aggressive with their stocks and mutual funds. This is a daring approach and many may prefer to take a slow and steady approach to their college investments. The choice depends on your philosophy and your future outlook on your investments down the road.

Keep in mind that stocks will generally be more risky than mutual funds. You can still opt to go aggressive in the mutual fund investments but they are still a little safer than playing the stock market. Also, don’t fret about not putting enough money away in your savings venture. As long as you are contributing something you are ahead of the game.

Consider your years attending a university as a series of investments. You will be putting in time to achieve goals. Once you have earned your degree you can move on to your professional career, an IRA and many more investment opportunities.

Students are already investing their time and effort into earning a degree. Why not continue in the spirit of preparing for a bright future by investing money while in college?

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Please note: All personal opinions expressed in the "Investing Money While In College" article belong to the contributing author and are not necessarily shared by SloanSemester.org.

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