How do I grow the little money I have ?

[crossdrivenwriter]

Hello

So recently I sold a phone and got R1200 and I wanted to ask, what is the best way to invest and grow this money. I recently graduated from university ( ceremony in May ) and job hunting now ( I have a degree in computer science ) but no matter how hard I try, I got nothing. So in an attempt to at least make some passive income. Any help would be great

I know it won't grow immediately, so if anyone knows of ways such as stocks, crypto or literally anything that can help and get my feet off the ground ( maybe find a place to rent ) that would be great

Thank you in advance

 

[williammosher]

@crossdrivenwriter To be completely honest, its too little and you are better off looking for a job. Use the money you get from your job to invest into financial instruments, it shouldn’t be too hard to find a job considering you graduated with a computer science degree. If you have a laptop maybe try reaching out to small businesses and try freelancing to build websites or something.

 

[fae2fae]

@crossdrivenwriter Unfortunately the money isn't going to grow fast enough to cover even one month's rent. Use that money sparingly to help find a job. In other words, making sure you have travel money and phone data. It's a good amount to do that if you use it wisely

 

[danmillward]

@crossdrivenwriter If you don't earn a good income yet, the best place to invest is in yourself. Focus on getting a stable income first.

 

[yell]

@crossdrivenwriter Passive income is a myth (except through investing and then you need at least a million), you could try starting a business or getting a job in a different field for a while to get more stable while applying for roles

 

[delphinecaron]

@yell You need between 5 and 10 million to live comfortably with passive income

 

[tornagainchristian]

@crossdrivenwriter Should probably use the money for purchasing equipment; a training course to boost your CV; good books in your area of study or self development; new professional looking clothes etc. It’s too small an amount to use as a pure financial investment. Getting a job is your priority.

 

[panteleimon2]

@crossdrivenwriter It would be more effective to look for coins on the side of the road than to invest this.

 

[linkinloopy]

@panteleimon2

 

[schong]

@crossdrivenwriter Make sure you look good when you go for interviews, buy nice cloths if you don't have, get a business hair cut. Think of it this way. You are paying yourself to go on interviews. Work out an hourly rate.

 

[schong]

From this R1200 you are paying yourself to find a job, even if your first job only pays R10 000 a month, your return on your self investment will be more per month then any investment you could make with that same amount.

Don't give up.

 

[wordship]

@schong First job paying 10k? That's only with a qualification. It took me years to crack R10k per month, and that was only once I could weld, fit pipes, draw in 3D modelling software, operate and set CNC machines, programme said CNC machines, perform simple wiring, spray paint, sand blast, and had many many other skills. I syaryed at R4k per month dude, and it took about 5 years to break past R10k per month. Running an entire CNC laser department netted me about R15k per month. This guy should get some beers with that cash and find a job that isn't physical. The harder you work your body, the less you get paid.

 

[posseng]

@crossdrivenwriter Use that money to get a job. It doesn't have to be something in tech just anything to get by until you find something better. Use that to do short courses or get LinkedIn premium. The money you have is not enough to invest so you should just focus on getting a consistent income.

 

[akdamar]

@crossdrivenwriter Use it to buy what you need for a skill or to help you get a job

 

[dragonskorn]

@crossdrivenwriter If you have a smartphone, upload vlogs. It might not work but it's relatively accessible. Posting to YouTube Instagram and tiktok gets you a greater chance of exposure. This russian girl lost everything and couldn't find her family so she just started making vlogs, speaking her mind and sharing with the world. If you're comfortable, try it.

 

[mjinchrist]

@crossdrivenwriter Are you graduating in May cos you had to write a supp? If so, theres only been a small window where you've been able to say that you have a degree - and many places may not look at you if they want "someone now" but your degree is "in progress". You will in all likelihood find a job (related to your degree) within six months of graduating.

Keep that 1200 aside to treat yourself when you land that job. Or when you need a pick-me-up after a rejection. 1200 is too little to do much with and you can start investing once you are working and have a stable, substantial income

 

[passiongirl]

@crossdrivenwriter First educate yourself about trading before u even put one dime in to it coz just as fast as u put it it can be gone and make u more stressed trading isn’t a quick $ don’t be fooled

 

[annelisethomas]

@crossdrivenwriter Most surplus money should be used to increase your earning potential when starting out.
Passive income is for people who are already wealthy, mostly.

 

[theodor98]

@crossdrivenwriter The best place to invest in is yourself. Use your skills to freelance as an app/web developer. Buy a domain and pay for some hosting. iPage is a cheap option. Build a website and set up a sales funnel. Put some money into advertising on Instagram and facebook. Your goal should be to break even and get at least 50% profit with your first client. Don’t worry about making money with your first 3-5 clients. You’re learning how to freelance and the money you’re leaving on the table is the tuition for that education. By the time you get to 5 clients you will be starting to get a reputation and with that you can slowly begin to raise your rates. Your R1200 will buy you financial independence and the freedom to shape your own career. That’s worth more than any dividends it could net you in the next decade.

 

[zimrath]

@crossdrivenwriter Chow that money young man it's too small