Three Keys To Financial Freedom: Financial Literacy and College Students

According to Vince Shorb, financial literacy expert, there are three main keys when it comes to financial literacy and college students like yourself. What's best of all is any teen or twenty-something can do it, since there are many ideas for college students to make money today. The problem is that most of your teachers, and even your parents, might not have the right answers when it comes to budgeting and investing.

The principal is simple - make the money you have work for you instead of you always having to work for your money. Would you like to fly to Paris on the spur of the moment someday? Maybe you'd like to pay for your kids' college so they don't have to suffer along like you did? There are benefits to financial literacy and college students need to learn how to make their money 'work' in three major areas.

Financial Literacy and College Students - What Young People Can Do To Make Money

Vince Shorb, the creator of an interactive financial multi-media course, Financially Free By 30 (www.FreeBy30.com), believes there are ideas for college students to make money. What's earned can be invested in each of the following three vehicles.

1.      When it comes to financial literacy and college students, the Stock Market is a great place to start for teens and young adults looking for financial freedom. There are investments that mirror the returns of the overall market that consistently outperform mutual funds each year. Did that make your head spin? If so, don't worry. This information doesn't come without a little confusion at first, which is why so many young people give up. All that means is, without specialized training, even you can make more than most money managers because you're investing so young. Chances are you don't understand everything about the stock market and you don't want to spend hours researching, but that's fine. If you pick safe but steady markets, time is on your side to build your wealth. This is a main component of financial literacy and college students don't realize it. That means you're not alone. But once you build enough money through your brokerage account, take some out to diversify into the next step - real estate.

2.      Did you know that Real Estate has been credited with creating 7 out of every 10 millionaires? This is also a main factor in financial literacy and college students often fail to take advantage of the bank's money to make money. If the market where you want to live isn't strong, opt to buy a rental property in an area that is set for growth. Sure, it requires a bit of extra homework on your part, but the reward can literally be worth millions. But where do you start learning? Well, some basic guidelines to look for prior to buying property include: population growth trends (How many people are coming to that particular area?), job growth (Are there lots of jobs?), market momentum (Have prices on houses gone up in the area over the last few years?), and location desirability (Is it somewhere you'd live?), just to name a few. It's not really about working harder to earn money, but rather working smarter. And speaking of work...

3.      Thanks to the Internet it's never been an easier to Start a Business that can turn a real profit. Find a business to start, or invest in, that you're passionate about. There are a host of ideas for college students to make money and, although work takes dedication, it should also be fun. Pick something you enjoy but remember negative people will try to discourage you, saying you can't do it for various reasons. So write down your goals and have a game plan for your business. But remember, like a game plan, it might change to meet new challenges you face unexpectedly. However, by choosing something you enjoy, and because you can start now with minimal risks or money requirements, you will build your wealth dramatically.

Financial Literacy and College Students: Change Starts Today

So whether you are sixteen or twenty-six, it doesn't matter. Financial freedom for young adults is attainable. The best part of all is that it's rather simple when using a combination of all three investment vehicles.