By Johannes Pan
Even though I just recently graduated from UP Diliman and started working, I already have plans to study again. But unlike college where I enjoyed free tuition, graduate school will surely demand a hefty sum of money. So with very little to my name, what can I do? What would you do in this situation?
I could borrow from my parents. However, and this is assuming they even have the money to pay for graduate school, doing so would put me in debt, which is not necessarily bad as some debts as strategic but is not how I want to start my adult life. It would be as if I am not even trying. I have to at least show that I am doing my part in achieving this life goal.
I could save a lot of what I earn. This would be a more respectable move and definitely better than just borrowing money. But if I have to pay my monthly bills, it would take me a very long time before I get the amount I need. I have to be more aggressive than this.
I could save a lot of what I earn and then invest my savings in a mutual fund. A mutual fund is like a bank but way faster. However, the interest rate is not fixed and could plunge into a negative number, making it risky. Nevertheless, if I am looking into studying after five years, I could accumulate more money from this.
There are other means to amass much money, such as earning passive income, but that is a topic for another day. For now, it is important to remember that there are investment vehicles, such as the mutual fund, that can help one’s money grow faster and achieve one’s life goals, such as going to study, after a given period of time.