College students tend to focus on the present, finding the best party to attend, and going to the movies. However, paying too much attention to the present can negatively affect the future. Luckily, as a college student, you can start preparing for the future by investing early. 

Open A High Yield Savings Account

Opening a high-yielding savings account is one of the simplest ways to boost your finances. These accounts allow you to withdraw funds simultaneously as they earn much higher interest rates on your investment. People who save don't often consider other banking products like certificates of deposit, CDs, or high-yield savings accounts, as investment options. They are, nonetheless, viable options. In exchange for putting money in a bank for some time, a CD pays a fixed interest rate. This investment can be a terrific way to put money aside that you won't need until later.

Automated Savings

Apart from opening up a high-yielding bank account, you can consider automated savings. This method applies effectively if your income is consistent. You can set up automatic income transfers to your savings or brokerage account. You can also request that your lace of work split your income between your bank account and savings or brokerage accounts. But your options don't have to stop there. There are so many apps that can help you save money automatically today. One of them is Acorns. It automatically rounds up credit and debit card purchases to the next dollar and deposits the difference into a third-party account. Through a broker like SoFi, you may quickly open an IRA or Roth IRA and set up automatic investments. 

Stocks and Crypto Currency

For young people, stocks and cryptocurrency are the perfect places to start investing. Yes, cryptocurrency has high volatility, which is one of the risk indicators. But over time, they offer high returns, and you won't be retiring for years, so you can keep your money and wait for the stock market's periodic corrections. If you've never invested in this field before, you'll be surprised and confused at first. Analysts might be talking about PE ratios, blockchain, altcoins, dividend yields, and other sophisticated terms. 

Real Estate

Consider house hacking as a first real estate investment move and a way to live freely. A house hack investment entails buying a small apartment building, moving into one of the apartments, and renting out the rest. Your rent covers your mortgage, and you can live for free by acquiring capital from your investment property. Housing is the biggest expense that most of us bear, so you can cut down on your budget for other investments if you can buy it for “free.” The trick, of course, is not to spend money but to make sure you are saving and investing.

Conclusion

There are many other ways of investing as a college student, so do not limit yourself to these few. It is also important to research to make informed decisions for your money.