How can a student make balanced investments without his source of income?

[Plutomanian]

More than 15% of Nigerian students in this era make money through online skills and scams, allegedly. These are the students this topic should be centered on. Not on students still relying on their parents to cover their expenses. Because a student who clubs, drinks, does drugs, and smokes has the money to do little investment.

Students who make their own money while in school, regardless of the means, are entitled to start an investment of their choice. Some of them are already business owners before they are done with school.

Students nowadays no longer find interest in keeping up with asking for money from their parents or guardians, they intend to hustle their way to the top, 90% of students don't care about the means of making money, and the vast numbers sticks to scamming and so on. Illegal means of generating income wouldn't do any good rather it will just make one become more deep into fraud which will end you with no investment. I've come acrossed internet fraudsters, these boys are living the best lives, what they do is buy exotic cars, buy houses and travel round the world, only few have good sense to wash their money with good and solid investment which will pump hugh profits for them and before you know it, they're out of the game.

[Dogedegen]

Well it is possible for a student who gets money from his family to do so but imo it’s not ideal, atleast if he wants to start investment, he should have a source of income. Most students nowadays do remote jobs and earn some money that help fund their lifestyles…for those group of students, they can invest but for someone who doesn’t earn anything rather he spend from his allowance, I don’t think it’s ideal for him to invest.

It is ideal, you are wrong. When you are receiving money from some source without actually working you have more time to consider things properly and do the investments, when I was young most of my investment came from money that was not from jobs. Some of my best successes were made with this money, so the claim that you should have a source of income is not true. You can invest with any money, it does not matter how you are getting it.

The fact that you received money you didn’t work for doesn’t mean it is ideal for you to start any investment, CONTEXT matters.

Let’s look at it from a perspective of the life of any average Nigerian student, as some replies above have already mentioned, the money an average Nigerian student get most a times aren’t enough for their expenses (Necessary expenses in this cases not the other unnecessary ones), when you’re in this kinda situation you’re more focused on survival and sadly that’s the situation of most Nigerian student because of the economic hardships.

Your youth and other people’s youth are different, you can’t compare the fact you got your investment money from other source which you didn’t work for to the allowance that a student gets for his expenses in school. Also I’d like to clarify something here, you can still invest even if you don’t have a job, I’ve also read in this thread from a reply….the allowance or “free money” you also get is also a source of income.

It’s really good for student to have a good and proper financial management skills and they should invest in learning real life skills that would help them get incomes.

You are wrong because the data agrees with my argument, I have asked ChatGPT for quick estimations specific to students in Nigeria:

The closest evidence suggests that around one-third (≈31%) of university students are current alcohol users, but not all of them necessarily buy alcohol with their allowance, and some may use earnings from work or other sources instead.
A 2021 university study found an overall smoking prevalence of 35.25%, but this included cigarettes, shisha, and cannabis. Only 12.5% smoked cigarettes exclusively.

This means that at least one third of the students have the money to be able to invest, they are just using this allowance the wrong way. As long as you can even have 1 drink per month,. you have money to invest it in Bitcoin so it is better not to lie to yourself. Many people lie to themselves because they have bad money management skills, so instead of admitting that they have an issue they like to pretend that they don't have enough money to invest. If you want to invest, you will find a way to do it. If you don't want to invest, you will find excuses not to do it.

More than 15% of Nigerian students in this era make money through online skills and scams, allegedly. These are the students this topic should be centered on. Not on students still relying on their parents to cover their expenses. Because a student who clubs, drinks, does drugs, and smokes has the money to do little investment.

Students who make their own money while in school, regardless of the means, are entitled to start an investment of their choice. Some of them are already business owners before they are done with school.

Students nowadays no longer find interest in keeping up with asking for money from their parents or guardians, they intend to hustle their way to the top, 90% of students don't care about the means of making money, and the vast numbers sticks to scamming and so on. Illegal means of generating income wouldn't do any good rather it will just make one become more deep into fraud which will end you with no investment. I've come acrossed internet fraudsters, these boys are living the best lives, what they do is buy exotic cars, buy houses and travel round the world, only few have good sense to wash their money with good and solid investment which will pump hugh profits for them and before you know it, they're out of the game.

You are mistaken in your interpretation. The scammers that you may have seen who are living their "best lives" are living horrible lives and all have mental diseases, none of them have any kind of peace. Secondly, you are looking at the top 0.1% of scammers. Most have very little money because they do not know how to handle money and their successful scams are low. It is actually this illusion that fraudsters can have good lives from the internet that is pushing more of the students into that path, but the reality is misrepresented. Very few scammers ever manage to buy a single exotic car, in Nigeria or anywhere in the world. Don't believe what you see on social media, anyone can rent exotic cars and pretend to be rich with much less money.

[yixichloro2xx]

Its possible but we have to look at another factor which is how much wage do they receive from their parents or guardians. Some students receive ₦10k-20k per month, and I don't think student that receive that kind of amount would even be able to figure out discretionary income from such amounts.  Reasons are, feeding alone will eat up 70-80% of the money no matter how they want to cut their expenses, because we know how costly things are in this country. Another one is bills that students often pay in class and extra stuff, so these kinds of low wage students wouldn't even think about investing in Bitcoin because they are after their own survival. Students that receive ₦50k above can figure out discretionary income from their wages even if it's ₦10k, so these people can easily sort out their expenses and bills for that month and then any remaining funds can go into Bitcoin. So, for students to invest in Bitcoin it depends on how much wages they receive from their parents and guardians and if they don't have extra source of income.

[Cryptomultiplier]

I settled down to read a lot of the replies here because I think from my experience as a one time old student, nothing about investment ever interested me and i think same applies to the current generation of students alike.
I mean, take a look around, this is Nigeria where the lecturers make money from students and when you don't have money most times to comply, you fail and have carry overs. So a student these days always got to learn to 'sort' courses or give gifts to lecturers or supervisors, just to pass with good results.

Another is the living conditions the school environment provides. You got to see how life is difficult for some, no water, no light, no good food, no good transportation system or security. So tell me how it's possible for most students who don't drink or smoke or socialize much won't have one or more of these outlined problems to deal with on a regular and spend money while doing so.

DCA strategy might be good advice, but as a student, to focus on your education is far better and it is only when you earn extra money from doing other jobs or you had a skill before entering school and you use it, that the idea of investing to multiply your income or set your self up after graduation, rests easy on your conscience.

[Hypnotizer]

-Snip

You are wrong because the data agrees with my argument, I have asked ChatGPT for quick estimations:

The closest evidence suggests that around one-third (≈31%) of university students are current alcohol users, but not all of them necessarily buy alcohol with their allowance, and some may use earnings from work or other sources instead.
A 2021 university study found an overall smoking prevalence of 35.25%, but this included cigarettes, shisha, and cannabis. Only 12.5% smoked cigarettes exclusively.

This means that at least one third of the students have the money to be able to invest, they are just using this allowance the wrong way. As long as you can even have 1 drink per month,. you have money to invest it is better not to lie to yourself. Many people lie to themselves because they have bad money management skills. If you want to invest, you will find a way to do it. If you don't want to invest, you will find excuses not to do it.

I said the “Average” Nigerian student, 1/3 is a big number but that can’t be used to justify the live of an average student. I know a lot of student need to improve on how they managed their finances and they need to stop somethings they do and instead divert the money to something more beneficial like investment and learning new skills but that doesn’t mean my initial claim about this was wrong.

Investments aren’t things that are forced and likewise when someone wants to do it, it’d be hard to stop him… so I’m not saying it wrong for a student to investment rather I said it’s not ideal but someone that has  long term thinking and wants to invest can still do so.

[DiMarxist]

You can only invest money from your discretionary funds which is why as a student especially in a country like Nigeria, it's going to be difficult for a student from a ordinary family is going to invest in Bitcoin. As a student any money that is given to you is ment for your comfort while studying, it's will be difficult for a student to save money because there are allot of expenses that is associated with schooling in a country like Nigeria. Many students are just barely surviving in school so the visibility of a students in a higher institutions from a family that is surviving is very low. The only students that can afford to invest in Bitcoin are students from a rich home such as politicians and big business men.

[Princess Leah]

More than 15% of Nigerian students in this era make money through online skills and scams, allegedly. These are the students this topic should be centered on. Not on students still relying on their parents to cover their expenses. Because a student who clubs, drinks, does drugs, and smokes has the money to do little investment.

Students who make their own money while in school, regardless of the means, are entitled to start an investment of their choice. Some of them are already business owners before they are done with school.

Students nowadays no longer find interest in keeping up with asking for money from their parents or guardians, they intend to hustle their way to the top, 90% of students don't care about the means of making money, and the vast numbers sticks to scamming and so on. Illegal means of generating income wouldn't do any good rather it will just make one become more deep into fraud which will end you with no investment. I've come acrossed internet fraudsters, these boys are living the best lives, what they do is buy exotic cars, buy houses and travel round the world, only few have good sense to wash their money with good and solid investment which will pump hugh profits for them and before you know it, they're out of the game.

Many people are now realising that securing a job after school is tough so they do whatever they can to earn even while in school, it's unfortunate that fraud is what the majority had to see as a means of survival but that's by the way. The point is that most students don't know how to invest for the future, maybe it's because many don't earn it legitly which is why they spend it lavishly.

 Visit clubs or top entertainment spots you'll see that most of the ballers are students, who spend lavishly on drinks and drugs. Such money if channeled into investment like Bitcoin could be helpful in the future but only few are wise enough to secure assets, start up businesses etc.

[Pablo-wood]

More than 15% of Nigerian students in this era make money through online skills and scams, allegedly. These are the students this topic should be centered on. Not on students still relying on their parents to cover their expenses. Because a student who clubs, drinks, does drugs, and smokes has the money to do little investment.

Students who make their own money while in school, regardless of the means, are entitled to start an investment of their choice. Some of them are already business owners before they are done with school.

Most students who do wild things in school have senior influencers who sponsor those lifestyle. most of them can't give out the money by hand but are ready to spend any amount has long as it wouldn't yield any positive result on the student. During my undergraduate days I came to understand that students who take hard drugs usually attract a class of citizens and this citizens don't mind going any length to make this drugs available.

Making money as a student is not easy but once a student unlocks that level they can navigate their investment choices swiftly. 

[Localhostspeed]

You can only invest money from your discretionary funds which is why as a student especially in a country like Nigeria, it's going to be difficult for a student from a ordinary family is going to invest in Bitcoin. As a student any money that is given to you is ment for your comfort while studying, it's will be difficult for a student to save money because there are allot of expenses that is associated with schooling in a country like Nigeria. Many students are just barely surviving in school so the visibility of a students in a higher institutions from a family that is surviving is very low. The only students that can afford to invest in Bitcoin are students from a rich home such as politicians and big business men.

Same students in Nigeria that are struggling for Nelfund is what we afr bringing to discussion. The first problem of been a Nigerian student is that more than 90% depend on their parents for upkeep and stipend. Unless your parents is rich and wealthy that you can be able to make extra money from them and make investment, you can't make money while been a student in Nigeria because working system is not paid in hour but in months which is not condusive for student.

This last bull run, some student were fortunate to participate in airdrops and luckily for them, they made some money from altcoins, some people have their life transformed through the money, some reinvest into Bitcoin and some squandered the money. It will make sense if people use such opportunities in another bull run. They don't take your time, some tasks are done under and then go back to your study.

[Rockson1]

The honest truth is that everyone should just invest when they can and I think that is just the absolute best, no need to be in too much rush and on the long run, you give up because you can’t keep up or because you have so many outstanding bills or emergencies you need to attend to with funds, and the only option left will be to sell out your bitcoin when the initial goal was long term.
A stable source of income is important when starting your investment, from that income, one must have discretionary funds available to invest and also extra funds set aside for emergencies, if you can’t meet up with this, then hold. No time is ever too late to start bitcoin investment, if you don’t invest now doesn’t mean you’ve missed your chance.

I don't know if some persons think that Bitcoin investment is about competition, I do not think that self pressure and persuasion is adviceable and part of Bitcoin investment, going by the standards, the best time to invest is when you have your discreationary income available, a student can actually invest but such student must have other source of income not someone that is depending on the money that is given to him by the parent unless the money is a kind of enough that he can figure out discreationary income from it, I think the reason why must persons will not support a student to invest in Bitcoin is when the money available can not cover up his personal expenses and still go for his Bitcoin investment.

I agree that a stable income can not be out looked when starting bitcon investment and every other investment, at first as an investor, Bitcoin investor to be precise, you can start if there is discretionary income available then you can get multiple source of income that will help you to conveniently continue to sought out your basic essential needs and provide an improved discretionary income for you to invest in Bitcoin without any form of rigorous thinking that might arise in the latter days.

[GIF-JOBS]

Although it is possible, but I think we don't need to rush too much. During your student life, you don't have any source of income, you are investing in Bitcoin with the remaining money after the expenses you receive monthly expenses from your family. This whole process is definitely possible, but I have some doubts about one thing while being a student and that is mental control.

Are you able to fully accept volatility? If you are investing in Bitcoin without spending the money you received from your family, then are you able to see the amount of your money decrease after investing it ? and are you mentally prepared?
Because volatility is normal, and it will not always going to up. In this case, a student will definitely expect something good from the money he invests, since it is his money that he has saved hard for the whole month, maybe he has invested his entire pocket money for the whole month without spending any money himself. So I think in such a situation, that student will definitely have a different emotion towards his money, and that's why it's difficult..
And in such a situation, he must first be sure that it can decrease in value due to volatility, but he must have faith in the long term. But no matter how much we say, it is difficult to hold an investment in the long term in the face of volatility, and when it is in the case of someone who has no source of income the i think it is more hard and difficult.

[Female King]

Be realistic and put all those values in Naira instead of of dollar..
There’s absolutely no reason to force investment if you don’t have any source of income yet.. you can save up instead to start but before starting, you need to ask yourself if you can afford it.  Going after some immediate profit in Bitcoin will humble you and you might eventually sell in loss.

Invest with some sense not because everyone is doing it and you must.. there are different options but Bitcoin stands out.

Sometimes some people thinks that bitcoin is running away there is no need struggling to invest in bitcoin when you don't have what is giving you income saving up gradually and start a business should be the first approach before thinking of investing bitcoin so that there can be availabilities of discretionary income to start investing in bitcoin, bitcoin investment is a long term investment so it's not what to rush into to avoid selling when you still need to be accumulating.

[Dogedegen]

-Snip

You are wrong because the data agrees with my argument, I have asked ChatGPT for quick estimations:

The closest evidence suggests that around one-third (≈31%) of university students are current alcohol users, but not all of them necessarily buy alcohol with their allowance, and some may use earnings from work or other sources instead.
A 2021 university study found an overall smoking prevalence of 35.25%, but this included cigarettes, shisha, and cannabis. Only 12.5% smoked cigarettes exclusively.

This means that at least one third of the students have the money to be able to invest, they are just using this allowance the wrong way. As long as you can even have 1 drink per month,. you have money to invest it is better not to lie to yourself. Many people lie to themselves because they have bad money management skills. If you want to invest, you will find a way to do it. If you don't want to invest, you will find excuses not to do it.

I said the “Average” Nigerian student, 1/3 is a big number but that can’t be used to justify the live of an average student. I know a lot of student need to improve on how they managed their finances and they need to stop somethings they do and instead divert the money to something more beneficial like investment and learning new skills but that doesn’t mean my initial claim about this was wrong.

Investments aren’t things that are forced and likewise when someone wants to do it, it’d be hard to stop him… so I’m not saying it wrong for a student to investment rather I said it’s not ideal but someone that has  long term thinking and wants to invest can still do so.

I understand but you introduce the word "Average" only in the middle of our conversation. I was trying to demonstrate there there is a significant portion of the student population who are able to invest, and they are just choosing to spend their money on wasteful activities. We are talking about different parts of the populations, which can be confusing. The data that I bring forth can not be used to say look the average student can invest, but it shows you that there are already 30% of students who can based on 2 activities. Smoking and drinking are not the only activities that waste money, add drugs, gambling, and some more activities and you would probably reach more than 50% of the student and that could reach the amount that is significant enough to claim that the "average Nigerian student" can invest in Bitcoin.

But anyway we should not focus on these word details because it does not matter so much. Poor people can't and shouldn't invest in anything, they have other priorities. But at the same time it would be incorrect to say that students can't or shouldn't invest, because I have shown that many can do just that! I hope that now we are more clear, we are talking about the same thing just from different ways.

[Rubuchi]

Students nowadays no longer find interest in keeping up with asking for money from their parents or guardians, they intend to hustle their way to the top, 90% of students don't care about the means of making money, and the vast numbers sticks to scamming and so on. Illegal means of generating income wouldn't do any good rather it will just make one become more deep into fraud which will end you with no investment. I've come acrossed internet fraudsters, these boys are living the best lives, what they do is buy exotic cars, buy houses and travel round the world, only few have good sense to wash their money with good and solid investment which will pump hugh profits for them and before you know it, they're out of the game.

These are bold claims from you but also a reflection of what is happening with the society live today especially in Nigeria. Saying 90% feels so much to me but I can accept the fact that it won’t fall short of anything below 60% though coming from a demographics perspective which is still a huge number. This is the reason why scams related to the young people have really grown over the years and recently the chairman of the economic and financial crimes commission EFCC said about six out of every ten undergraduate students are involved in internet fraud otherwise known as the Yahoo Yahoo and that statistics number was disclosed during the 8th biennial conference of state owned universities in Nigeria which was held in Kano.

[Su-asa]

Thinking about this critically, a student's concern should be about studying alone and not figuring how to run an investment because that's actually going to be a burden for them especially when they are not really financial stable. As someone that has been through the university I understand the system and how everything works, those that are even doing okay end up struggling because of the bills they have to pay, it is going to be difficult to keep up with this and also thinking of how to invest in Bitcoin or make any other type of investment. It is difficult for a student to have a steady source of the income.

[GiftedMAN]

Thinking about this critically, a student's concern should be about studying alone and not figuring how to run an investment because that's actually going to be a burden for them especially when they are not really financial stable. As someone that has been through the university I understand the system and how everything works, those that are even doing okay end up struggling because of the bills they have to pay, it is going to be difficult to keep up with this and also thinking of how to invest in Bitcoin or make any other type of investment. It is difficult for a student to have a steady source of the income.

Students in the university should be encouraged to have an investment that is giving them additional income aside what they get from their parents , this will not only help them to concentrate to study it will also give them more sense of belonging to remain focused and not depend on the government to provide employment for them since they can create employment opportunities for themselves and others through their business or the ideas they had developed during their time in school.

There are so many hard working students out there who have developed their times to work after school hours they invest their time to do some extra hustle to raise money to start up a business or investment, they many not make it big during that time but if they are consistent you would be surprised to see how much they have made through investments. If they decide to invest in Bitcoin they can achieve something reasonable before they would graduate through which they can be self employed.

[Onyeeze]

Thinking about this critically, a student's concern should be about studying alone and not figuring how to run an investment because that's actually going to be a burden for them especially when they are not really financial stable. As someone that has been through the university I understand the system and how everything works, those that are even doing okay end up struggling because of the bills they have to pay, it is going to be difficult to keep up with this and also thinking of how to invest in Bitcoin or make any other type of investment. It is difficult for a student to have a steady source of the income.

you are right, a student is not supposed to have overload because investment is like someone who is having another load and the combines with the academic load which is student do face in time of studies, for me student is not supposed to involve itself in anything that has to do with investment, at first, if student concentrate for investment that will divide it attention or study, and that will make the student to lack concentration because what will be ringing in the student mind is to make money and if it lose for the investment it will be depressed, student supposed to be restricted for investment until they are done with the studies

[MisFoxie]

A students main problem is money so instead of investing shouldn't that student learn how to earn money without disturbing his student life. A student can invest his daily expenses in himself instead of investing in Bitcoin such as learning skills or doing other things that will help him earn money. After learning a skill a student can start earning some money through freelancing. But investing in Bitcoin isn't a good thing for a student who doesn't even earn.

[Nwaswago]

Let's imagine that a student is getting money from their parents to take care of their accommodation,  feeding and other school related activities and at the ed of the day the student is able to pay for all these and probably also gets some extra funds from their parents for maybe pocket money, this can be classified as their discretionary income and they can use some of it to buy bitcoin,  this fund probably also comes regularly maybe on a weekly or monthly base, they can also decide to use the DCA to invest with, taking a certain percentage from their pocket money (discretionary income) whenever it comes and invests with it, they don't need to have like a job first before they can invest in bitcoin, as long as they are able to generate discretionary income they can buy bitcoin, they just need to be able to do so consistently and be able to hold for long, while also understanding that they also need to set up their emergency fund from their discretionary income as well.