Education

Investing in yourself!

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Education
  • Asked by Anonymous

    Jansen
    Jansen, Business Student at Ntu
    Level 3. Wonderkid
    Updated 5d ago
    Do a check on ur inflows and outflows at the moment. -Do you have any side income at the moment? -Will your parents give u any money at all (uni fees, allowance, anything) -How much will you spend a month Looking at your time frame, you dont really have the time horizon for investment. I suggest not investing this because u need the liquidity, and u dont wanna cash out when its bad times and lose money. 8k a year means $667 per month, ie u need to earn this amount minimally. Including your expenses, which may total to say, 300-600 a month depending on how u spend. Considering this, you need to find higher paying part time jobs. $8/h isnt gonna make the cut. Tuitions are great if u are able to teach, but remember, a kid's academic future is impacted by u. Alternatively, find other sources where u can utilise ur skills. Take part in simple survey in sch which gives out $10-15/h or $5/20mins. Apply for burseries if u are lower income. Apply for mid term scholarships if u can do so. If u study hard and have good skills, go for competitions/case competitions which gives 3rd place about 500-1k, and 1st place 3k-5k kind of award. Alternative to above, u can take up a interest free tution loan till grad, and invest the money u earn because now the time horizon for the cash is 4 years - till after u grad. U can go for sti etf or ssb because u still need some liquidity, and prob not wan to take up too much risk
  • Asked by Anonymous

    Billy Ko
    Billy Ko, President - Investment Club at Singapore Institute Of Technology
    Level 4. Prodigy
    Answered 1w ago
    Hey there, if you simply want to gain the knowledge (not an official accredition) you can try out the following sites: https://www.wallstreetmojo.com/free-investment-banking-courses/ https://nibclive.com/ These are 2 that I have at the moment. I'll add on more if I come across anymore!
  • Asked by Anonymous

    HC Tang
    HC Tang, Financial Enthusiast, Budgeting at The Society
    Level 8. Wizard
    Answered on 06 Dec 2018
    Questions is, why not ? :) But as always, one should finish at least tertiary studies as much as possible for backup and basic as a fallback plan because if it doesn't work out, she can always go back to work for someone or do something else. I believe that parents should always be supporting and encourange children to persue their passion and interest and start young because that's the best time without much commitment and responsibilities, so they can learn / understand better and go much further that us. Why not encourage and help her to register HDB home sole proprietorship and take some home order for events / birthdays / parties and sell cakes , muffins and cookies. But have a talk with her and both agree that studies must comes first and as long as she do her best in her studies, you'll support her in the business. Who knows, maybe before she enter university it is then possible to have the scale to make it a shop and business to fund her own university fees and carve out a living and passion or even be a famous chef one day ! :)
  • Asked by Anonymous

    Isaac Chan
    Isaac Chan, Business at NUS
    Top Contributor

    Top Contributor (Mar)

    Level 6. Master
    Answered 4w ago
    Mods I agree with Jonathan that your mods may not teach you much about investments, especially having taken some finance mods myself and having talked to others. From what others say, your first accounting mod and finance mod give you a good foundation on how to look at financial statements and basic invesment concepts like time value of money and financial statment analysis. CCAs Like what the rest have said, CCAs can give you some help in starting to invest. But I would think that learning on your own can be much more helpful also, to complement what you learn. What you can do before Uni If I were you, reading books about finance such as the Intelligent Investor, or taking online courses on Cousera or Udemy can give you a starting point before school actually starts. I actually know friends who started investing on FX just by reading books. They even have others passing them money to invest in FX, so they have become mini fund managers. The internet has a wealth of resources already, so you don't neccessarily have to wait for school to start before learning.
  • Asked by Anonymous

    Junus Eu
    Junus Eu
    Top Contributor

    Top Contributor (Mar)

    Level 6. Master
    Answered 4w ago
    I did this to avoid taking on a loan. It's simple but hard work if you are starting with no financial support. Here's what I did: 1. Get an internship that pays and allows flexible hours. 2. Give private tuition in the evenings and weekends. 3. Save on your spending. With all the time you are spending working, giving tuition and studying, it is not likely that you have time for recreational activities. That was in a nutshell my life throughout my uni years. I would study from 12am to 3am for exams, sleep, then wake up to get to 830am class the next morning, and do my internship job remotely between lectures, then give private tuition from 7-10pm. Then I would have dinner, head home, and start studying again to 3am. Thankfully it paid off - I got enough to cover my tuition fees, my living expenses and also with some savings left over!
  • Asked by Anonymous

    Charmaine Goh
    Charmaine Goh
    Level 2. Rookie
    Answered 4w ago
    Just curious, which year are you in actually? I think as a freshman internships may not offer as much because of the limited knowledge you have in accounting, assuming you are looking at internships in an accounting firm. Hence it might be more beneficial to acquire new skills that can go a long way in helping you in both your university courses and future internships. As a senior, having an internship to put what you've learnt to practice in a practical environment would definitely be helpful and also help you remain competitive amongst your peers in my opinion. Or of course as other commenters have mentioned, why not do both! the internship experience is definitely valuable since work and school have undoubtedly different environments and 3 months is a fairly long period of time that can surely be dedicated to more than 1 thing:)
  • Asked by Anonymous

    Gabriel Tham
    Gabriel Tham, Kenichi Tag Team Member at Tag Team
    Top Contributor

    Top Contributor (Mar)

    Level 7. Grand Master
    Answered 4w ago
    My opinion is that it is better to pay off the loan asap. By paying off the loan, you are saving 4.75% p.a. Once the loan is gone, you have peace of mind to invest. 4.75% is a very high interest rate to compared to margin accounts for investments.
  • Asked by Anonymous

    Junus Eu
    Junus Eu
    Top Contributor

    Top Contributor (Mar)

    Level 6. Master
    Answered on 20 Mar 2019
    There are also friends to be made in the start-up community, and these are the folks whom you can probably have deep discussions with re: the topics you are passionate about! We all have 24 hours a day, and who we spend the most time with has an implication of who we are. Definitely, truly good friends are worth keeping, so do take out time to spend quality time with those few! You don't necessarily need to 'hang out everyday' to maintain a close relationship. Quality Quantity.
  • Asked by Anonymous

    Thaddeus Tan
    Thaddeus Tan
    Level 4. Prodigy
    Answered on 13 Feb 2019
    Like @stephyeo said there is really no model answer to your question. I feel that getting some form of work-experience at a young age is beneficial. One can learn and gain alot from it. I did a few part time jobs after my major exams in secondary school and JC as I felt that I had more time after my exams. IF your concern is so that she is not distracted from her studies, she could probably wait till her exams has ended and work part-time during the holiday period.
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