How to get a head start on future investments


Grace Sampson – Special to the Southern News 

Getting a head start financially before entering the real world of workforce, student loans repayments, mortgages and other life changing responsibilities can be a great way to jump start one’s finances to a better future.

Earning a degree, finding a job after college, these are ways of getting ahead in the field.

However, the tough part especially after graduation is plotting and investing in a smart financial future.

“When I think of investment I think of putting time, effort, and money into something that will benefit you in the future,” said Romina Halim, a social work major and psychology minor.

Halim, 22, is finishing up her last semester as a senior and will be attending NYU in the fall to start her Masters in Social Work.

As a student, some of the scariest thoughts that wanders around are things like “what if I don’t find a job after college?” “will I be where I want to be in 5, 10, 15 years from now?” Truth is, the scariest thing about life is the unknown. Though one may not know what the future may hold, there are still measures that can be taken to ensure a less stressful yet satisfying future. It is never too soon to set oneself to a right path.

Here are some few ideas on investments to make to live and breathe easier.

Start a savings account
It’s easy to spend than to save, and for most it can be a bad habit. So if you haven’t yet, start thinking of developing a spending and saving plan. Doing this gives clarity on what is made, how much is spent and how much is saved. Take a look at pay stubs, make list of expenses and calculate money made and extras if any. Try thinking outside the box and start saving for future life events, student loans debts and retirement plans.

“I have a savings account,” said Morgan Danuszar, a junior, elementary education major. “I use this method as a way to invest in money.”

Manage student loans
Financial aid is offered to many students for cost of education but for most, loans are primary source to pay for school. The most intimidating task for most college graduates or dropouts is paying off student loans. For most student loans, no payments are made while actively enrolled in school. After school, you are given six months or more to begin payments.

While in school, sometimes students receive refunds after paying off school costs. If those refunds are received from loans, it is greatly advised to send the refunds to the loan company. Paying off student loans is an effective way to boost up credit scores.

Build credit
Being independent, one will want to either buy a house, car or rent an apartment. This requires a good credit score and a good credit history. A good credit score comes with lots of advantages such as lower rates in insurance, car loans, mortgages and more.

“I plan on investing in a bank,” said Jean Henry, a junior business major. “By doing so, I can saving money, build credit and be able to purchase a house and car.”

Invest in yourself
Obtaining a degree and getting a job with a good pay are ways of investing in oneself by growing one’s mind and knowledge.

We live in a world that is constantly changing so never stop learning. Learn new skills, new language, continue to network and make connections.

Photo Credit: Simon Cunningham

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