Here's a scenario for ya'll

[popeyito2001]

Im a single guy with a bachelor's degree in Computer Information Systems. I have recently made the decision of going back to college to either a) do my masters in programming or b) do a 2 year bachelors in video game design (or something close to it).

As it stands, I currently work 2 jobs. Through the week I work at a E-learning company and get paid 30,000 a year. In the weekends I work as a bartender at a restaurant. Combined income ive figured is around 1600-1800 per 2 weeks. I currently have 5000 dlls in the bank and I am TOTALLY debt free...
(I have credit cards to build credit, but any amount on these gets paid on a monthly basis)

Now my question is... what do I do with the income i'll be getting in this 1.5-2 years i'll be working and the money in the bank in order to create some kind of revenue and not have the money sitting there doing nothing? I'm planning on going to college in Europe since tuition over there is cheap (around 600 dlls ive been told) and, well, its Europe!

My policy is to be able to access at least 5000 dlls at all times in case of any emergency. I plan to work part time as a bartender when I go to do my masters/2nd bachelor in order to pay for some living expenses... At the time I go to college I may need to access this saved up money to pay for any expenses I have left after my bartender salary...

Now, with that placed... any ideas? Any help would be very appreciated

[noppenbd]

First you should try to work up a budget for your future years in college, factoring in how much you might make as a bartender minus expenses. Then calculate any shortfall that will need to be covered by savings. Anything that you will need during this time should be stored conservatively in a money market or high-yield online savings account. Since you will be needing the money in 1-2 years, you shouldn't try to be too aggressive with earning a return on this money. Just stockpile as much as you can. You should also make sure the current $5000 Emergency Fund is large enough for 3 months expenses. It seems a little low.

Any additional money over and above the expense savings and EF could be used to start (or continue?) saving for retirement in a Roth IRA or medium-term savings in a balanced mutual fund through a low-cost brokerage. These can be progressively more aggressive as the time horizon gets longer.

[Scanner]

Now my question is... what do I do with the income i'll be getting in this 1.5-2 years i'll be working and the money in the bank in order to create some kind of revenue and not have the money sitting there doing nothing?

Investing for income vs. growth is very hard (but a worthy goal). It takes time and much resouces to accumulate before you have passive unearned income from investmetns.