5 Best Investments For Students
College students may think that they should not even be worrying about the 5 best investments for students while they are still students. However, it’s never too late to start making sound financial decisions and setting financial goals. Therefore, here are some areas to consider when thinking about the best investments for students.
1. Your education: This is by far the best of the best investments for students, even though there is no immediate monetary return like you would get with CDs, stocks, or other types of investments. That comes after you finish your education and get a job, something that should be easier to do with a college degree.
2. Savings account: The average savings account doesn’t require a large amount of money to open. The interest earned varies, of course, depending on the current prime rate, but a savings is a good starting point when considering the best investments for students.
3. Short-term CD: A short-term CD is one that is scheduled to mature in six to ten months. Again, the amount of interest earned depends on the current prime rate.
4. Money Market accounts: This type of account requires a larger amount of money, but the return rate is higher right from the start. This might be a good option when thinking about the best investments for students, especially if you have received an inheritance.
5. Stocks: These are always a good investment, especially if you stick to reputable companies. Many don’t require a large investment, so if you’re going to make this option your choice of the best investments for students, shop around until you find one that you can afford to invest in.