I am a junior developer working at my first job as a software engineer. I'm studying in a part time model so I am studying 50% and working 50% of my time.
I get my salary every month but... What should I do with the money?
I am still living with my parents so I do not have to cover living costs, only pay them a little bit of rent. I never buy anything and I spend all my free time studying which I like. I have nearly 0 expenses. So I thought maybe it would be good to invest this "extra income" coming in every month. But where do I start?
I know nothing about finance or economy and whenever I try to look into it I don't even understand how to get started because the entry fees seem high.
I am in Europe, maybe that's relevant. I feel this money from my job is only a burden for me because all I do is have to pay the account fee to my bank... Highly appreciate any advice!
Ask HN: How to save/invest/deal with money?
1–10 of 43 posts
Re: Ask HN: How to save/invest/deal with money?
#2Re: Ask HN: How to save/invest/deal with money?
#3Invest them in a low cost global index fund and forget about them.
That's the simplest and best answer you can find.
Re: Ask HN: How to save/invest/deal with money?
#4Avoid speculative investments like single stocks, crypto or anything like that when you're starting out.
Depending on your risk appetite, you may want to consider index funds from Vanguard (very low fee) or government bonds (low yield, consider this if you're extremely risk averse).
Re: Ask HN: How to save/invest/deal with money?
#5Avoid speculative investments like single stocks, crypto or anything like that when you're starting out. Depending on your risk appetite, you may want to consider index funds from Vanguard (very low fee) or government bonds (low yield, consider this if you're extremely risk averse).
Thank you for your answer. But do you use any specific platform/website to do this? Again worth mentioning also that I'm not in the US.
Re: Ask HN: How to save/invest/deal with money?
#6Avoid speculative investments like single stocks, crypto or anything like that when you're starting out. Depending on your risk appetite, you may want to consider index funds from Vanguard (very low fee) or government bonds (low yield, consider this if you're extremely risk averse).
Thank you for your answer. But do you use any specific platform/website to do this? Again worth mentioning also that I'm not in the US.
If you are in Europe, Interactive Brokers is the most well-known and seemingly well established platform. I am still exploring it myself, but it has low purchasing fees and a lot of learning material to start from.
Re: Ask HN: How to save/invest/deal with money?
#7Avoid speculative investments like single stocks, crypto or anything like that when you're starting out. Depending on your risk appetite, you may want to consider index funds from Vanguard (very low fee) or government bonds (low yield, consider this if you're extremely risk averse).
Thank you for your answer. But do you use any specific platform/website to do this? Again worth mentioning also that I'm not in the US.
Use your bank
Re: Ask HN: How to save/invest/deal with money?
#8Earlier quoted context omitted.
Thank you for your answer. But do you use any specific platform/website to do this? Again worth mentioning also that I'm not in the US.
Use your bank
Be cautious with banks having crazy transaction fees for generic stock. Most of them have own funds and you can purchase them for low fees, while the rest can be even at 15 EUR per single transaction.
Re: Ask HN: How to save/invest/deal with money?
#9Earlier quoted context omitted.
Use your bank
Be cautious with banks having crazy transaction fees for generic stock. Most of them have own funds and you can purchase them for low fees, while the rest can be even at 15 EUR per single transaction.
That's exactly what I noticed with my bank. They have high fees for investing and for withdrawing. And that's an issue for me since I would only invest a few thousand dollars every month whenever I get my salary paid... Perhaps I should compare the fees of all the local banks next.
Re: Ask HN: How to save/invest/deal with money?
#10My favorite personal finance book in general is called The Psychology of Money but a summary of it is here: