Anonymous
Been wondering how I can continue growing my savings while still in university.
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Shania Loh
01 Dec 2020
Seedly Student Ambassador 2020/21 at Seedly
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Negative cashflow = bad.
BASIC EQUATION:
Wealth = saving + income + investment
Saving + investment = income
EQUATION 1
Wealth = (income - Investment) + income + investment
Wealth =2 income
EQUATION 2
Wealth = saving + (saving + investment) + investment
Wealth = 2 (saving + investment)
EQUTION 3
Wealth = saving + income + (income - saving)
Wealth = 2 income
From the equation (1),(3) it shows that you can grow your wealth by having an income i.e. a part time job.
Equation (2) shows you should only to investment when you have a saving
OPINON:
Thus for current situation, i would propose u to get a part time job to have income. Once u have a saving build up then look into investment.
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Jiayee
17 Nov 2020
Salaryman at some company
You don't have an income so it's natural for the balance to drop.
If you need the money soon then i...
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Hi Anon! I'm a Uni student as well and it can get quite upsetting whenever I see my account balance drop, but then again as a #brokeunistudent it is quite understandable especially if you're not working. I always try to be mindful about my spending but some months may be tougher than others! I've started investing earlier this year with a robo-advisor, this can be something you can look into to grow your savings whilst you are still schooling and you can decide how much you want to set aside for investing purpose. You can read up more about robo-advisors and investing with the following links:
https://blog.seedly.sg/singapore-robo-advisor-i...
https://blog.seedly.sg/ultimate-personal-financ...
Hope this helps! :)