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Jiayee
01 Nov 2020
Salaryman at some company
Feel free to place your savings in low-risk or risk-free accounts which attempt to combat inflation e.g. Singlife Manager, Dash EasyEarn, Gigantiq, Endowus Cash Smart Enhanced and DBS Multiplier.
As for investments, invest only monies which you are fine without. As mentioned by Min, it's way more effective to invest in yourself which can help play a part in determining your first salary and career progression.
When I was an undergraduate, I took a tuition loan from MOE and NUS. Then, I put my savings into Singapore Savings Bonds. The interest rates for SSB now are really low, so it'd make more sense to look into the stuff I mentioned in the first paragraph.
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For a student, I will say get a part time job or freelance.
You can earn a free hundred every month...
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To keep thing simple, you need 3 key components & have to happen in the following sequence.
1) Income. (Go get a part time, sometime multiple part time)
2) saving. (U can take care your basic need,& got extra cash)
3) investment (using extra cash)
Even without any investment, if you do 1 & 2 very aggressively & live frugally throughout your studies phase. You will still be ahead of peers that just do 2 & 3. (Saving from pocket $$)
You can start investing after you graduate. When you can invest in term of thousand. That will more impactful to the investment.
Personally think this is a great time to build War-chest, when you are still studying.