Students need to understand that no amount can buy you profits from the stock market. The only thing that can rescue you from the trap is a good amount of knowledge. The more knowledgeable and well-versed you are in the market, the more you can navigate through it.
Essential stock market knowledge for college students.
New Delhi,UPDATED: Dec 29, 2023 16:26 IST
The stock market is full of complexities, but all of its complexities can be cracked with apt knowledge. Indeed, knowledge is the key to the greatest lock of the stock market, called profit. But not everybody gets the right education. Many students nowadays get swayed by fake promises on the internet. Many people are plundering the youth, mainly college students, in the name of stock market tips.
Students need to understand that no amount can buy you profits from the stock market. The only thing that can rescue you from the trap is a good amount of knowledge. The more knowledgeable and well-versed you are in the market, the more you can navigate through it.
Arun Singh Tanwar, Founder and CEO of Get Together Finance (GTF) shares his tips for college students on the stock market and how to become financially independent at a young age.
HOW TO BE FINANCIALLY INDEPENDENT AT A YOUNG AGE
Age doesn't come with obligations. This is the reason there is no defined structure to mold our future. Instead, a good and stable future mandates a defined approach. And this approach is somehow always connected with being financially independent. No matter which career we want, financial stability is the common factor.
When you have your money being grown at a safe place, it puts a huge burden off your shoulders. This can only be done when you have reliable knowledge of financial markets. As early as you learn where your money can grow in a good space, your life becomes easier from a financial perspective.
College students need to prioritise basic stock market knowledge at a tender age. Even if you don’t want to make a full-time career out of it, knowing basic things won’t harm you. Instead, it will guide you for a lifetime to make informed investments and grab the opportunities ahead of others.
It's never too late or too early to learn how the stock market functions and get past the world of tips and blue-chip companies that your older ones have suggested. Start getting logical and practical about the market.
Not all students dream of becoming rich, but surely all of them dream of being financially independent. Be it any field they are going to explore themselves, money is a necessity. Make sure this necessity is fulfilled wisely.
STOCK MARKET TIPS FOR COLLEGE STUDENTS
Nowadays, college students are already juggling between exams, practicals, and a shortage of money. Well, the harsh truth is that exams and practicals will be over one day, but a shortage of money is inevitable in the future when you don’t know how to manage your money well.
To be free from the nuisances created by the shortage of money, learn about the stock market in college life and start saving little by little. Here’s how you can do it:
- Start Educating Yourself: Before starting to trade or invest directly or with the help of tips, take time to learn the market by yourself. Utilise the resources available on the internet and grasp the basic concepts of the stock market to build a strong foundation.
- Start Small: It's never too early to start investment. When you start investing or trading with a small amount of your pocket money, your salary or income will never disappoint you. Because by then you’ll know how to make more out of it with a strategic stock market approach.
- Get a Good Mentor: Always have an experienced support system by your side. Plan your journey by seeing the mistakes and experiences of others. A good mentor will not only help you clear your doubts but inspire you to be better every day.
- Embrace Technology: This generation is tech-savvy, and it can surely catalyse your journey of becoming finance-savvy. Technology has simplified the complexities of the stock market and everything is available on a single screen. By analysing the candlestick charts with apt tools and seeing constant price movements, you can plan your trades very well.
CONCLUSION
For college students seeking financial independence, the stock market has enormous potential. Students can guarantee their financial future by prioritising information above speculative ideas and adopting a disciplined attitude.
The keys to negotiating the market's intricacies include education, starting small, seeking mentorship, and harnessing technological improvements. Accepting this journey early in life equips students to make informed investments and builds the groundwork for a financially secure future.
Published By:
Megha Chaturvedi
Published On:
Dec 29, 2023
English (US) ·