Saving Something From Nothing

Discussion in 'Financial Planning' started by Maxthewriter, Jul 18, 2017.

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  1. Maxthewriter

    Maxthewriter New Member
      8/29

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    So, I have had a very had time saving, lately. My only source of income which comes from my mum isn't often enough to sustain me, talk less of saving from it. I'm currently a college student, so, I don't earn a pay yet.

    How does one save when one doesnt have enough to spend? Is it even feasible?
     
  2. overcast

    overcast Member
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    For every 1 dollar spent, make sure you save 1. And that logic will force you to save religiously. And you'd be able to be in position you can spend the interest from that saved money. As you can see that is often not the good option for those who are cash strapped. But make sure you have some form of habit to save and invest. Find out ways through which you can save in bank or invest in bonds etc. Even investing into the mutual funds can be a good goal.
     
  3. CivilDefense

    CivilDefense Expert Member
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    To be candid, the only solid answer I've found for this type of scenario is to work harder. Using your mind, muscle, or both, find someone willing to provide income. You mentioned you are college, so therefore, presumably, are a younger person. Leverage that strength and youth while you can. Good luck.
     
  4. remnant

    remnant Expert Member
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    In this era of creativity and enterprise spirit a college student should be able to figure side hustles like working online to starting an income generating activity among their peers both in house and in other colleges. People like Bill Gates dropped out of college to start small and are now economic powerhouses. Ditto the founder of Facebook. I have adopted the mental attitude of seeing opportunities in problems, good luck.
     
  5. Rhodolite

    Rhodolite New Member
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    Work smarter not harder in many cases. It depends. Turn a hobby into a secondary source of income. If you love doing it why not make money off of it? It come someday become your job and pay well if you're good at it. Get a part time job to get some experience and some side money, use it to invest in other ventures ect. People like Bill Gates already had skill sets from their personal hobbies and just put forth the effort and the means to get their ventures running. An fellow student from a university I went to recently struck it decently well by making an indie game from pure scratch by himself. Took 3 years of his personal time and working at crummy jobs because his market of study was over saturated in the area.
     
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