I got a scholarship, which is more than what I need for the period of my studies. So, approximately 300 to 400 euro is in excess, what can I do with this money? I am 20.


what can I do with this money?

Save it and pay fur future periods. Assuming you can eat and live without it, the best thing you can do is save it until you get through school (avoiding loans as much as possible).

Investing it in relatively safe investments isn't going to change your life in a good way, but ultra-risky investments (leveraged FX trades, etc.) can go horribly wrong, causing you to lose it and more.

Once you're out of school, then you can start thinking about investing it.

  • Thanks for the response! Why do you think that investing it on safe investments, won't affect my monetary supply in a good way? – Vello Mar 20 at 16:38
  • @asdf safer investments generally pay lower interest rates. You might earn 1% in a savings account but you are not likely to lose that interest. You could earn 10-20% investing in foreign currencies but you could also lose everything. – Freiheit Mar 20 at 16:50
  • @Freiheit okay, I get it. What do you think about realising your ideas. Like paying these 300-400 euro to people to create applications with your ideas? Do you think there is a possibility to go on profit with creating your ideas? Or should I just save my money and wait till I finish the university? – Vello Mar 20 at 17:09
  • @asdf It might, but it might affect it in a bad way also. My main concern would be to get through school without having to take student loans. – D Stanley Mar 20 at 17:50

Your answer should depend on how risk averse you are. If you are extremely risk averse, you should set aside the money in a savings account for an emergency fund. If you are less risk averse, then I would recommend investing all of it in a diversified mutual fund. Because you're only 20, your investment horizon should be pretty long, so you shouldn't have to worry about making extremely safe investments (bonds, CDs, and such).

Other options include: spending the money to travel or visit relatives (investing in personal relationships and your relationship with the physical world), using some of the money to buy books to learn how to invest that money (investing in knowledge), or even picking several stocks on your own and just investing with experience.

  • I think I am risk tolerant. Also, I do not think that I will be on a debt if I spend it since my family still gives me money and I am trying to find a job. I am considering investment because I am a finance student and would like to learn about economy and companies by involving emotions(like real money). – Vello Mar 22 at 9:22
  • Spending money on travel and education is my favorite. I love traveling but because of problems with socializing I cannot do it, traveling alone is kind of broke. I am thinking of buying some courses and books, but they don't bring value right now. I need somehow make money to realize my ideas. – Vello Mar 22 at 9:28
  • Also, I do not know any low fee trading platform. I am from Azerbaijan. Any advices on brockers would be appreciated. – Vello Mar 22 at 9:30

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