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chesty 
USA Fan
BR
Member since Oct 2012
1103 posts
| Investing For Students (Posted on 2/1/13 at 8:47 am)
I am trying to figure out a decent way to do a little investing on a student budget, I have about 4K on hand in savings, I would like to find a way to have my money work a little bit for me. The only debt I have is a car note, and I make enough between the bar and my day job to be okay and still keep putting money away.What are some strategies or advice that I might be able to use?
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bunky 
LSU Fan
FREE EL GUACHO
Member since Jul 2011
4350 posts
| re: Investing For Students (Posted on 2/1/13 at 9:38 am to chesty)
inb4 roth IRA
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jso0003 
Auburn Fan
Birmingham/Atlanta
Member since Jun 2009
4457 posts
| re: Investing For Students (Posted on 2/1/13 at 9:39 am to chesty)
I would pick 3-4 very well rounded ETF funds and just spread your money out between those. Maybe even just put it all in a diversified target date fund.
You dont want to waste your time trying to trade a bunch of different stocks because any potential gains are just going to get eaten up by transaction costs.
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Siderophore
LSU Fan
Member since Nov 2010
3334 posts
| re: Investing For Students (Posted on 2/1/13 at 10:33 am to chesty)
Use Sharebuilder.
They are very friendly with small investment amounts.
You can buy fractional shares, and buying shares as part of an automatic investment plan is only 4 dollars each.
(or 12 dollars a month for their premier services, which include credit for 12 transactions a month and only a dollar for additional transactions).
With 4k in savings though, I would consider dumping it into an Vanguard mutual fund that you like (directly, not through share builder).
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Teddy Ruxpin
LSU Fan
New Orleans, LA
Member since Oct 2006
12373 posts
 Online
| re: Investing For Students (Posted on 2/1/13 at 10:47 am to chesty)
quote:
Investing For Students
Would have been glorious if you went to LSU from say 1996 to 2000. I think interest rates were only a few percent on student loans, invest it, would have had the market pay you to go to school.
Would have been sweet.
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Siderophore
LSU Fan
Member since Nov 2010
3334 posts
| re: Investing For Students (Posted on 2/1/13 at 12:05 pm to Teddy Ruxpin)
I know some brave souls that day trade their student loans.
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Teddy Ruxpin
LSU Fan
New Orleans, LA
Member since Oct 2006
12373 posts
Online
| re: Investing For Students (Posted on 2/1/13 at 4:42 pm to Siderophore)
quote:
I know some brave souls that day trade their student loans.
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Siderophore
LSU Fan
Member since Nov 2010
3334 posts
| re: Investing For Students (Posted on 2/1/13 at 5:11 pm to Teddy Ruxpin)
It works pretty good for them so far, but they gotta fall flat on their face sooner or later.
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Teddy Ruxpin
LSU Fan
New Orleans, LA
Member since Oct 2006
12373 posts
Online
| re: Investing For Students (Posted on 2/1/13 at 5:18 pm to Siderophore)
quote:
It works pretty good for them so far, but they gotta fall flat on their face sooner or later.
Ya, I'll call you skilled when there are more losers than winner in the market and you are still making money.
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Chris Farley 
Maryland Fan
Regulating
Member since Sep 2009
3078 posts
Online
| re: Investing For Students (Posted on 2/2/13 at 7:49 am to chesty)
Spend this money on something fun while you still have the time. I had some savings in college and decided to blow it all doing a semester abroad in Europe and couldn't have been happier with my decision. If you can graduate with no debt and a decent job lined up just have some fun with the money. Once you start working you won't have the time to do all the fun shite you got to do in college.
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Powerman
LSU Fan
Corpus Christi, TX
Member since Jan 2004
115678 posts
| re: Investing For Students (Posted on 2/2/13 at 8:04 am to jso0003)
quote:
You dont want to waste your time trying to trade a bunch of different stocks because any potential gains are just going to get eaten up by transaction costs.
This x 1000
I don't ever make any buy transaction if the amount is less than 5K
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