Tips on finding the right investment for students
There's a myriad of ways to make money, especially during these trying times when the COVID-19 pandemic hit us hard financially.
And even for students, there's a lot of choices out there to build wealth at an early stage.
Yes! You don't have to wait for a stable job or burgeoning business to increase your cash.
Take for example the vice president and deputy head for public affairs of PLDT-Smart Mr. Carlo Ople, who is a highly-accomplished digital entrepreneur.
He is known for his unboxing vlogs of the latest kicks from popular shoe brands. But aside from his hugely popular YouTube channel that has over 750,000 subscribers, Carlo also has different business ventures too.
Recently, he shared some tips to students or beginners who are looking for ways to invest money, so they could benefit from it exponentially in the future.
But before he dished out some financial tips, the vlogger and entrepreneur stressed that people should first build their six-month emergency fund and eliminate their debts.
According to him, the emergency fund should only be used for “real emergencies” like medical bills. Also, paying off debts is a top priority before making any investments.
Carlo explained, “Kung sobra laki ng utang mo sa credit card. Kung sobrang laki ng utang mo sa mga tao, bayaran mo muna 'yun, before you get into investing.”
Photo taken from Carlo Ople's YouTube
One of the investments Carlo suggested are mutual funds.
He said that people can choose a variety of mutual funds, depending on their risk appetite.
Carlo declared, “So mutual funds are very basic. There is a pool of managers, the ones who manage the fund.
“Sila na 'yung pumipili kung saan iinvest, sila 'yung pumipili which stocks and sila na 'yung nagco-compute ng risk kung saan ba pinaka-okay.”
“And they actually offer you different types of fund depending on your risk apetite.”
Another investment tip that he also recommended is investing in yourself via learning new skills.
Why is this essential?
He noted, “That has been my main edge for my entire career.
“What does investing in yourself mean?
“It's basically means you invest in your skills, in your knowledge by taking up classes: either you pay for them or you spend time and effort as possible learning new skills via the internet.
“There's so many resources online that can teach how to video edit, graphic design, digital marketing, social media marketing, SEO...I mean there's just a variety, there's so many resources online that will allow you to equip yourself and set you up with more success.”
“So, if you can pick-up a few high-value skills while you're young, I really feel that is one of the ultimate best investments that you guys can make.”
Do you like collecting high-end toys or limited-edition sneakers? Maybe it's high-time that you profit from this passion by learning the entire business and how you could potentially earn money.
Carlo shared, “If you like shoes, if you like toys, if you like collectibles, if you like hype stuff, if you like watches.
“I would recommend that you spend the time and the energy to learn the business of that particular industry.
“On how you can flip stuff, how can you sell stuff on where you can buy items low and where you can sell them high.
“Because that's one of the best in terms of ROI for a lot of young entrepreneurs or a lot of young side hustlers I met.
We hope that these few tips that Carlo Ople discussed will help you in choosing the right investment.
Remember, the earlier you start making sound financial decisions, there's a huge chance that by the time you retire, your investments could have multiplied many times over.
For more articles about growing your money, please visit GMA Lifestyle.
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