In this video, I’ll give you a few tips on what you should do to build wealth as a student. Enjoy!
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0:00 – Intro
0:42 – Your Career
Your first job pay doesn’t matter in the long run, it’s more important to secure a job that you like. With that job, you will have the capital to start investing sooner, get paid to learn stuff. And with the skills that you acquired, you will be able to find a better paying job. If you can, step out of your comfort zone and change jobs every 2 to 3 years. Job changers will be able to increase their salary faster than those who stay at their current job.
2:52 – Sign Up For Credit Cards
With credit cards, you will get cashbacks on most of your spendings. You are also eligible for more rewards, like certain restaurants give additional discounts to certain credit cards. If you link your credit card to Shopback and Google Pay, you will also get additional cashback for your spendings. You will also get free stuff and free money whenever you sign up to new credit cards. Just make sure that you spend within your means, otherwise you will incur alot of debt.
5:51 – Savings
It doesn’t matter how much you earn, but rather how much you save that’s more important. Your savings is for your retirements and emergency purposes. Put the money into a high interest savings account just in case you need to use them immediately.
7:51 – Investing
Learn to let money work for you, otherwise you’ll be working your entire life. The earlier you start, the more your money can compound. Check out this video on how to invest: