What can I invest in to earn some extra pocket money as a student? - Seedly
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Wen Jie Ang

Asked on 28 Oct 2019

What can I invest in to earn some extra pocket money as a student?

I’m 18 this year, currently Year 1 in poly studying business.

Should I be looking at blue chips or something else? Thank you!

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Don't invest for pocket money. Because even to add just 500/mth in your pocket, you'll need a 150k portfolio giving you 4% return.

Invest for the long term. Get pocket money by taking on a side gig and learning new skills and then selling those skills as a service.

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Arpita Mukherjee
Arpita Mukherjee, Community Evangelist at Kristal.AI
Level 6. Master
Answered on 29 Oct 2019

Hi Wen,

There are plenty of safe ways to invest your money. You can go for REITs, other ETFs and bonds, but before you do that, I'd suggest you read up as much to understand what a Robo-advisor really does. Robo-advisory platforms assess your current financial position and recommend a portfolio strategy after reviewing your risk profile. These bionic advisors are still not very different from your ordinary financial advisors as both options will still have a management fee incurred for users. The difference lies with the amount, as Robo-advisors have lower management fees. And the best part is that they give you the most unbiased advice.

I work at Kristal.AI, and my mojo is to help people make the right financial decisions. If you think I helped you, do give me "Thumbs up". If you think my response was biased let me know, I will work on it.

I hope this helps you make the right decision.

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Heng Kai Le
Heng Kai Le, Mondomover at School Of Life
Level 6. Master
Updated on 10 Jun 2020

Hi Wen Jie,

if you have an OCBC account, maybe you can download Google Pay, generate your referral code and earn some petty cash when your contacts make their first payment through it. It’s valid until 30 June.​​​

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Andy Sim
Andy Sim, HR Professional at a Financial Institution
Level 7. Grand Master
Answered on 05 Mar 2020

Hi Wen Jie,

Good that you're thinking about investments at your age and trying to get exposed to the world of finance early on, I wished I had done so when I was your age haha.

But as much as you are eager to start investing, you can do so by first reading more about the different investment methods out there, familiarise yourself with the jargons etc.

In the meantime, focus your efforts on increasing your income by taking on part time jobs or by learning new skills or take up a hobby you have passion in. You'll be more concious about the value of money and what it can do and also make you more independent. By then, the savings you've accumulated will also be substantial enough for investments.

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Frankie Rappaport
Frankie Rappaport
Top Contributor

Top Contributor (Aug)

Level 9. God of Wisdom
Answered on 05 Mar 2020

I would recommend diversified S-REITs, not single stocks.

Best way I believe (no advertising intended): Lion Philip S-REIT ETF

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Alvin Teo
Alvin Teo
Level 6. Master
Answered on 29 Oct 2019

The objective shouldn’t be for pocket money but being 18 you can use this opportunity to gain real experience investing.

Try to stay away from day trading as it is highly speculative and it’s very difficult for an 18-year-old to process high levels of success or failures from this.

And being 18, you’ll probably do what adults tell you not to do anyway. Hur hur

Investing is like a sport, learn how to control your emotions on top of the technical skills needed.

And on the subject of pocket money, maybe invest not only into blue chips but also some REITs as they have a higher rate of distribution more liken to “pocket money”, and if returns are 7%, to get extra $700 a year needs an investment portfolio of 10k

So if $700 forms extra pocket money for you, that’s a good starting ground. And of course, do part-time/freelance jobs and what have you to earn more.

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