While enjoying this hustle full college life, we usually get stuck in assignments and extracurricular, and when one of these ends, we start preparing for placements and building our ways to become financially free.
Many students don’t know about the power of investment, this is because of the common mentality which sees investment and big financial decision in college years as a risk. But, the benefits of long, as well as short term investment from college years, are amazing. You can fund your startup and even repay any loan taken for education.
Here is the list of four best investment plans for college students:
SIP aka Systematic Investment Plan is hugely promoted by the government nowadays. These are the most flexible investment plans which start from as low as Rs 100. It needs consistently investment over some time for higher interest. You can withdraw your money whenever you want. It has a slower return but contains less risk than direct stock trading. It is best for college students as investing little amount from monthly savings for say over 4 years can return you enough money to start your venture or repay loans after college.
Gold investment has the lowest risk in the investing market. You will probably always get higher interest when investing wisely on gold. A few years back it was quite difficult for everyone to invest in gold and also there was a threshold amount, but nowadays there are multiple payment apps that are used by college students which provide gold investment just in a click, starting from as low as Rs 1. Study the gold market, when the prices fall in India, then just invest all your saving together and sell it in the season when prices touch its peak. A little study and focus can give you a lot of returns.
Stocks investors are the king of this investment game. These are the riskiest investment which needs proper study and focus than any other investment but also returns the highest than others. You have to study the trading market, why and when it will rise or fall and create loss or profit for which particular company; then just buy the stocks of that company and sell it on time. You need a Demat account for trading.
An online business can also provide you with the most profitable backup for gaining financial freedom after college. There are a lot of options such as freelancing, tutoring and dropshipping. Now the question arises, how to productively invest money in these fields. You need to marketize yourself if you have an online dropshipping store, or you want to work as a freelancer in multiple departments, then you need to invest your money wisely on ads to establish yourself in the online market. A proper study of digital marketing and then wisely investment in the ads can create a profitable market from which you can easily become financially free after college.