How to start investing as a University Student?

Hi,

I'm 22 Y/O, just started University. During my NS days, I have created some saving habits:

$5 note saving (Every week save all the $5 notes I have)

Coin Saving (Every week save all the New series coins)

From Jan 23 to Jun 23, I manage to save up $100 in Coin, $1k in $5. And I'm continuing to save via these habits.

For NS savings, I managed to save forcefully about $4k, which has been spent on my University prep 😭😭💵💵

However, I'm on the fence to start investing as I don't know what / which platform low to medium risk I should try. E.g. DBS, MoneyOwl, OCBC

Can anyone (Sensei) advise me on what should I try to jumpstart my investment journey? E.g. OCBC precious metal acc (Gold, Sliver), DBS Investsaver, MoneyOwl Dimensional, WiseSaver / Wiseincome.

Side note: I have been inputting an Expense Log Excel Sheet daily. However, should I also create a Saving Log Excel Sheet Version also, to track my Savings?

MoneyOwl OCBC RoboInvest

Discussion (33)

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Ian

16 Jul 2023

Theres no one platform fits all. Find the platform that you are most familiar and comfortable with and stick to it.

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casey

14 Jul 2023

Saw many comments about Tbills. Thought that this article explaining more about it could help you!

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Anita Han

10 Jul 2023

Can put your savings in tbills (that which you can keep away for 6 mths) 🙆‍♀😊

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Axolet

Edited 09 Jul 2023

University student here.

It all depends on your risk tolarance. Personally, I consider myself medium-high risk (it's ok to take risks when you're young) with a focus on long term investments. Here are some to consider:

High interest online banks. GXS or Trust bank are offering 2-3% interest rates for no effort or risk whatsoever. Your money is covered by SDIC up to $75k. I suggest checking GXS out as the interest rate is 3.48% APY. But you can only deposit up to $5000 - which is fine since you're a student with little savings.
Online brokerages. I personally use Webull. Individual stock investments are risky but fun. If you don't want to spend time researching, simply buy a low-cost ETF such as VOO. It's essentially the S&P500 bundled into one convinent package. Highly reccommended for beginners and the pay-out is around 8-10% APY over a long period of time. (but there are plenty of other online brokerages.)
And for the cherry on top, I have some money in bitcoin as well.

Good luck! And happy investing!

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