“Don’t take investing advice from TikTok”: How to invest wisely while in school

For this week’s No More Ls column, we’re finding out you can can invest on little to no income as a student—and if it’s worth fitting into your study schedule.

Investing while in school can often feel like a cruel joke. You have to pay for tuition, rent, food and a social life, while your bank account risks hitting zero before the month ends. According to a new survey conducted by Leger Opinion, 76% of post-secondary students say financial stress affects their wellbeing and academic performance, and 20% feel more stress over money than school. Yet, more Canadians at this age are investing than ever before.

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Finding money for investments while on a student budget may feel unreachable and unsustainable. You can start small—even on a tight budget—and still give yourself a serious head start. And that’s good as it giving themselves an enormous head start later in life.

Before you invest a dollar, track where your money actually goes to start making worthwhile investments. “I’m a big believer in cash flow awareness,” says Andrea Thompson, founder of Modern Cents. “If you know where your money goes, you make better decisions about how to spend it. For example, keeping track month to month of ‘fun money’ spending, which is anything discretionary, helps rein in your future impulsive purchases.” She recommends using an app to track your money.

Find the money hiding in plain sight

A 2025 report, Young People & Money, found that many Canadian Gen Zers don’t trust banks and big financial institutions—and that’s part of why starting small ($5 to $50 a month; you may not miss it as much as you’d think), on your own terms, can actually ease money anxiety instead of adding to it.

Among the main takeaways, the research shows that young people feel distrustful of financial systems and institutions. Becoming financially active helps young people lay the groundwork for a distant future, and proactively overcome financial anxiety to meet the demands of living in the present.

As students, it may feel overwhelming and unrealistic to invest money while attending school. The truth is you don’t need hundreds or thousands of dollars to become an active investor. All it takes is a small weekly or monthly pledge that compounds with time.

“Set up an automated recurring transfer of $5 to $15 per week into a high-interest savings account or investment app right after money lands in your bank account,” advises Thompson. “If you save before you see it in your chequing account, you naturally adapt your daily spending to what remains.”

Before automating anything, run a quick audit of where your money currently goes. Check your statements for your savings and chequing accounts and credit cards for forgotten free trials that aren’t free anymore, unused subscriptions, or the gym membership you stopped using months ago. Consider sharing streaming services or family data plans with roommates to free up $15 to $30 a month with almost no effort.

A tax-free savings account (TFSA) is your natural entry point into the world of investing. TFSA contributions grow tax-free, and you can withdraw funds if money gets tight, at no added cost. It’s a flexible, school-friendly option, highly adaptable to sudden circumstantial changes.

Match your risk to your timeline, not your ambition

As a student, you occupy a unique investing position. Yes, you may need money in the short term for tuition or an “emergency” (think unexpected school supplies or a last-minute invite to join an intramural team—you get to define what counts as an emergency.). At the same time, you have decades of compounding growth ahead of you.

Thompson’s rule of thumb for risk and timeline is straightforward. Any money you need within a one to three-year window for tuition, rent or unexpected expenses shouldn’t live in stocks or volatile markets.

Keep that cash in accounts like high-interest savings accounts, money market funds insured by the Canada Deposit Insurance Corporation (CDIC), or short-term guaranteed investment certificates (GICs). These won’t generate exciting returns, but they won’t disappear when markets drop either.

Stocks and higher-risk accounts are for money you genuinely won’t need for five or more years. That’s where time becomes your greatest advantage.

Distinguish investing advice from pure entertainment

Social media feeds are littered with so-called “financial education” content. Some of those posts are genuinely useful, but most are designed simply to get clicks.

“Social media platforms thrive on engagement, and high-risk speculative plays generate far more views than steady index investing,” says Thompson. Learning to assess financial information critically, especially when it comes from social media and other attention-driven sources, is one of the most valuable financial skills you can develop as a student.

Once you understand how to spot finfluencer clickbait and predatory offers online, the red flags are fairly clear to see.

• Get-rich quick narratives. Any claims you can make $10,000 in a week through options trading or meme coins are a form of gambling, not investing, according to Thompson. Similarly, any non-disclosed investment advice from social media influencers should be taken with a grain of salt.
• Lacking disclosures. Common scams involve creators promoting stock picks or trading platforms without explicitly stating whether they are sponsored.
• Lifestyle flaunting. Watch for creators using rented luxury cars, expensive houses or staged vacations as proof that their financial strategy works.

Legitimate guidance is very different, grounded in practical financial principles.

• Focus on principles, not stock picks. Look for creators who teach foundational concepts like compound interest, tax-advantaged accounts and asset allocation. Most licensed advisors don’t give away specific investment advice on social media because they don’t know you or your situation. There’s no one-size-fits-all investment solution.
• Check credentials. Look for creators who hold recognized qualifications (e.g., CFP, CFA) or clearly cite official regulatory and educational sources.
• Embrace the boring. “Real long-term wealth building is simple and repetitive, about as exciting as farming,” says Thompson. “Always think about the adage ‘don’t dig up the carrots to see if they’re growing.’ If a strategy sounds dramatic or urgent, it’s usually a high-risk pitch designed for views.”

Here’s the good news: Investing when you’re in school is also the simplest. Start small and start now rather than waiting for your personal financial situation to feel perfect. Carpe diem, as your English lit TA might say, and seize the opportunity to build for your future.

Read more from this issue of The Get:

1. How to negotiate bills in Canada when you have no leverage 
2. DIY your way into Canada: what it really takes, from the people who did it
3. A Canadian Redditor on crowd-sourcing financial advice
4. Retirement savings (and spending) strategies to beat inflation