Investing as a student in Ghana

The average age for university enrollment is 18 in Ghana and according to interactions and our survey data, 52% of prospective InvestSika users are younger than the age of 25.

This means that a good number of people in the SikaTribe are still in the higher institutions of learning.

If you are one, this post is for you, there is a lot of things you are probably experiencing practically for the first time as a student. From taking care of yourself to time management and then even money management.

Just like learning to ride a bicycle might take some practice, there are a few things you need to know and practice to help you navigate this stage of your life and especially towards financial freedom.

Plan

How do you currently manage your finances? Do you have a financial plan? What do you hope to achieve by graduation? do you want to start a new business in school or online? You need to write these plans down and budget your money and time towards financial freedom. A great suggestion is the 50:30:20 budget rule, you spend 50% of your allowance or income on needs, 30% on wants and then you go invest the rest.

InvestSika lets you buy shares of companies that are publicly listed on local and global stock markets like NYSE and NASDAQ easily using your mobile money in just three clicks. Join SikaTribe to learn more about financial freedom through investments.

Arrange

Now you have a plan, the next thing is execution. For investments, if you follow the budget rule you have earmarked 20% of your income for investments. Take out a portion for emergency funds and then invest the rest. InvestSika is an application that lets you invest in your global companies like Apple, Google, Tesla, and over 2,000 others listed in the public markets.

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You can pick stocks depending on your taste and understanding of the companies, InvestSika provides you relevant information on each company, with recent news on what is going on in these companies. You can also choose to invest in various sectors, oil & gas, tech, finance, and many more.

Balance

With 3-clicks you can invest using InvestSika in the comfort of your home with your mobile money. The final thing to do is to ensure you have a balanced portfolio, this means do not put all your eggs in one basket. The way to do this is to have a diversified portfolio. This is the practice of managing risks when investing by investing in various sectors and different companies.

The assumption is that if you invest in just one company and the value of the said company reduces you lose value too on your investment, but by investing in many companies you hedge that risk because the chances of every one of them losing value at the same become very low. This does not guarantee a profit, but it is nevertheless a best practice for risk management.

Practicing the PAB technique every time you get income will begin to make you focused, disciplined and of course, experienced over time.

Wrapping up

Now you have been introduced to the easy PAB technique for beginning your journey to financial freedom as a student investor. Make sure to read other resources on the Sika talks blog to educate you on all you need to know about investing in global opportunities from Ghana.