I'm a PhD student and started working as a lecturer. So now that I'm starting to make some money, I have about $1,000 that are sitting idly by and I'd like to get some advice on what's the optimal strategy for it. So far I see 3 options:
- Pay loans: I have about $40,000 in student loans accruing at a rate of about 6-7% (including inflation). Obviously, paying this off could lessen the debt burden.
- Invest: I have been reading a bit about robo advisors, and it seems like it would be a good way to put my money to work. Let me know if you recommend any specific ones (available in Europe).
- Spend it: I'm sure I can find a way to enjoy the money. The utility of the money right now may be more worth it than saving/investing/paying debt.
A few important notes. First, I live in Spain/Europe, so cost of living is cheap here, and I could easily get a job in the EU/US if need be. Second, my expectation for a salary after finishing the PhD is significantly higher than what I'm making now. (Say from $25,000 to $50,000 per annum.) So obviously, whatever money I invest or use to pay off debt may be a very small amount compared to later. Thanks for your thoughts!
Submitted December 24, 2020 at 09:30PM by Snoo-32543 https://ift.tt/3hgRkCE
