While degrees and especially masters’ programs are an incredibly worthwhile investment, which can lead to great job prospects and fantastic future earnings potential, they are expensive. Many students finish their studies with huge amounts of debt and then spend the first years of their working life struggling to pay them off. For these students, the idea of investing money may seem a distant dream. However, if you are sensible, you could find yourself graduating with investments in place to make sure your future is bright. Here are five options for student investments.
Property
If you can afford it, property is an excellent investment. House prices over the last 20 years have risen at an astronomical rate and are continuing to do so. Buying property also gives you options. You could live in your house, make renovations and sell, rent it out and then sell, or live in it later or sell to investors. While it’s an expensive investment, it’s one of the best ways to watch your money grow and you should do it as soon as you are able.
A Savings Account
If you are studying an online master of financial economics then you will know that one of the best places to put your money is in a high-interest savings account. Especially if you don’t have enough to make a large purchase or investment. Saving small amounts in a high-interest account can quickly see you build a substantial fund. Unfortunately, interest rates are low right now.
Antiques
Antiques can be bought relatively cheaply if you know what you are looking for. Antique stores, charity shops, and yard sales are all great places to look and antiquing can turn into an interesting and profitable hobby. You may even have some antiques in your own attic. Have a look to see what toys, games, and books have been kept from your childhood. In good condition, some of these are worth a lot of money today.
Art
Art is a great investment to make in the long-term. You could buy a piece now, from an up and coming artist, which costs very little, only to see it’s worth grow if that artist becomes successful or well-known. If you’ve got an eye for art you could spot a future great and make some brilliant investments in their work. However, if you are unsure it can be just as easy to spend a fortune on art work that will never be worth anything.
Another option when it comes to art is to look for older pieces that are already worth something. Again, charity shops and yard sales are a great place to look.
Bonds
Bonds are the government or private companies borrowing money from you. They come with a guaranteed interest rate and date in which they have to be bought back, although you can sell them at any time. There are risks involved with buying bonds, so make sure you understand them before committing.
Before making any investment, be sure to speak to an expert unless you are studying a master of financial economics and know what you are doing with money. You should also make sure you never invest any more than you can afford to.