If you are a student looking for where you can put your money and earn a profit on it, you will do yourself a lot of good by reading this article to the very end because, by doing so, you will no longer be worried about where you can put your money, not just to keep it there, but to also earn a considerable income that will support you.
It advisable to invest early, especially when you know what you want and avenues by which you can achieve your objectives. However, knowing where to put your money as a student in Nigeria is as much important as the investment. In this article, you will get to know about five places you can invest your money in Nigeria as a student.
You should be smart and wise with your money in order to always have surplus. Therefore, it is important to invest as someone catering to himself. Investing early in life protects your future.
5 places to invest your money as a student in Nigeria
Below are where to invest as a student;
1. Investment Apps
Investment apps give you an opportunity to invest from the comfort of your home, as long as you are connected to the internet. Some of the biggest of such apps in town are Cowrywise and Farmcrowdy. Some of them offer up to 100% ROI, depending on their minimum.
2. Certificate of Deposits
Because you do not want to lose money as a student, Certificate of Deposits are among the safest investments that you can undertake. By investing in CDs, you are eligible for a specific interest rate for leaving your money in care of a financial institution for a period.
3. Stocks, Shares, and Equity
This is volatile yet it works very well if you have the knowledge of the stock market. To master the art of investing in stock, shares and equity to make money, you can enroll for training and read financial educative materials. You can also gain the service of a financial advisor.
With as little as 5,000, you can invest in bonds. We are sure you definitely will. With as little as that amount, you can invest in bonds for some fund managers. The interesting thing is that you have zero chances of losing your money because it is completely backed by the government.
5. Open an IRA
IRA means Individual Retirement Account. Opening this account could be the best thing you can do for yourself. Do not say it is too early to do such, because time, as they say, waits for no man. Beginning early gives you more by increasing your compound benefits.