facebookI am final year student at a local Uni. I have ard $2k savings right now, and $24k study loan to repay. I have been doing virtual trading for the past 1 year. Can I start trading? - Seedly

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Anonymous

23 Apr 2019

General Investing

I am final year student at a local Uni. I have ard $2k savings right now, and $24k study loan to repay. I have been doing virtual trading for the past 1 year. Can I start trading?

I am interested in investing in the S&P 500, STI Bluechips and Mutual Funds.

Discussion (6)

What are your thoughts?

There are reasons why many here has given you advice to clear your debts first.

And For some reason, you decided to do trading, you need to “perform” to make more than the interest your debt is generating.

And trading includes Risks that can result in losses. These losses can be more than what you have in cash. This will further hurt your finances when you already have debts.

Although the chances of making money thru trading is there which will help you clear your debts. But you should not do so in this mindset.

Investing and trading is more on psychological than technical Or fundamentals.

It takes a few second to execute a trade and seems like a lifetime dealing with your psyche everytime there is a movement. if you do not have the right mindset (debt-free, and with disposable income to trade) you will make some wrong decision along the way.​​​

Jason Sing

Jason Sing

30 Nov 2018

School Of Hard Knocks And Life at School Of Hard Knocks And Life

Settle the debt first so as to reduce the interest payable. Once your debt is cleared, you could then save more to accumulate your capital for investment or trading.

Nicholes Wong

Nicholes Wong

29 Oct 2018

Diploma in Business Management at Nanyang Polytechnic

Its better you pay off debt first. Debt interest is guaranteed while investment is not. Later you lo...

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