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Anonymous

03 Dec 2019

Stocks

How can I, as a student with no income, cope with expenses and start my journey in investment?

I am still studying but have a few hundred worth of savings. I am hoping to start building a portfolio and gain some experience.

Discussion (8)

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Bjorn Ng

03 Dec 2019

Business Analyst at 10x Capital

Hey there, I would recommend to build up your investing knowledge first. Do not invest just for the sake of investing - it's a new field and very easy to let your emotions run over.

Read more investing books, join stock forums (I started from Hardwarezone Money Mind), read annual reports, and most importantly, ask questions!!

Don't be discouraged!

Most of us here start off with hardly any money in the bank, with expenses to pay for etc. What I did as a student was to give tuition, and also internships, to start earning income so that I have savings are minusing off my expenses. I was also very aggressive with saving from a young age, mainly because of compound interest.
How to Start Investing

1. Accumulate capital. Everyone needs to start with some investment capital. Also of your pool of available capital, decide how much you want to invest.

2. If you can, start as early as possible. Compound interest allows your account balance to snowball over time.

3. Open your CDP account (which you have already). For the benefit of those who haven't, sign up via the instructions here: https://investors.sgx.com/cdp-account-opening/#...

4. Open your brokerage account, and link your CDP account to it.

5. Understand your investment options.

There is a whole world of investment products out there from stocks, bonds, ETFs, mutual funds to the more exotic or less mainstream ones like art pieces, scultures, gold, and cryptocurrency.

Read up lots to understand your risk appetite, and form your own investment strategy.

6. Execution is everything

I always like to say that one can spend a decade reading and not deploy a single cent because of fear of procrastination. I always say to start early, and start investing in small amounts so that you can better understand yourself as an investor.

Having money to invest is not just about what one earns but about what one spends. So you might want to look at your expenses and find a sustainable level of expenditure to live with.

Spend time reading up not only on investments, but on insurance as well.

Finally, decide if you are able to start investing 50-100 a month just to dollar cost average and get your feet wet. It will help you understand your own risk appetite and emotions wrt to the volatilities of investing.

Ashri Mustaffa

25 Nov 2019

Financial Consultant at Prudential

Hey!
I've been in your shoes. It depends on what type of portfolio you're thinking about. My opinion would be to read up, youtube, go for seminars for now. You wont want that savings to go to waste.

Open a Practice account if you plan on trading, using a mock bank acct size of a few hundreds to replicate your actual challenge of growing your cold hard cash.

At the same time, study hard for a brighter future, work if you are able to in order to increase your income and savings.
Use an excel sheet or finance app to track your expenses.

You need to save up more first before you head on to investments. In case you lose money or anything happens, you are comfortable and sustainable.

The link below is the exact advice I feel I shouldve been
given when I was your age (whichever your age may be).
https://blog.seedly.sg/what-most-young-adults-d...

Elijah Lee

25 Nov 2019

Senior Financial Services Manager at Phillip Securities (Jurong East)

Hi anon,

At this point, investing a few hundred dollars will not be life changing, even if you pic...

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