| best savings option with low income |
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amycobain
Member
Cash: $ 3.10
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Joined: 26 Nov 2012
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It is truly a great way to start off by saving as much as 10 percent for every single week. You will remain surprised as how much 5% will necessarily amount.
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Mon Nov 26, 2012 8:57 am |
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jallyjames
Contributing Member
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Location: Delhi
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Your post was informative, personally and professionally, I was seeking this particular info for a long time. express gratitude you and best of luck....
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Mon Jul 15, 2013 10:03 am |
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Radix3d
Preferred Member
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| Re: best savings option with low income |
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quote:
Originally posted by pdizz1e
Hi all,
I am a graduate student still paying tuition but also have a co-op position that pays well enough for me to have a bit of spare cash if I live at home and live frugally. I would love to start saving something like 10% depending on my expenses that month.
Since 10% of what I make is not a huge number, what would be the best way to invest this money? I have a savings account but I believe the interest on that is somewhere around .5% which is essentially nothing.
I don't think anyone mentioned this?
One thing you could do if you aren't taking advantage of student loans is take a loan to pay for tuition, and then devote your income entirely to saving up $5-10,000 or more. When you graduate and land a job you can easily pay back the loan in full once you feel safe in your career. If you struggle finding employment at least you have a nice cushion of cash to fall back on and you can negotiate with your loan counselor. I think they give you 6 months leeway after graduation.
Since the money you are saving is YOURS you can legally invest it in whatever you like. Perhaps something with a low maturity and government backed.
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Tue Jul 16, 2013 4:40 am |
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tony gray
Contributing Member
Cash: $ 6.55
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Joined: 13 Jul 2013
Location: Ca
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| Good one friend |
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saving money is a great option really it helps in fighting any bad situation that may arise due to any accident.Saving money should be a trend among students and working group but the amount you save should be reasonable so that it dosen't hurt your monthly living expense.
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Thu Aug 15, 2013 4:57 pm |
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