Investing Basics Beginners
I’m a real novice Investor. I started out with Endowment Policies when I was in my early 20’s and then switched them to Retirement Annuity Policies about 10 years later.
Recently one of my friends introduced me to the STASH app so I’m giving that a go as well. It’s the easiest way EVER to save some money each month. Every time I swipe my card it rounds it up to the next R20 and I think I had accumulated about R250 in there the last time I checked. And the money is linked to an insurance policy so it earns me interest every month. Cool!
The only thing is, I haven’t worked out how to set it up on my new Huawei phone yet. Oops. My bad.
Not exactly a serious investor, am I?
I was fascinated to see the app mentioned in the contributed post below as I thought it was only for local (South African) savings. As soon as I get a minute, I’m going to read that article with interest too.
How Investing Can Become a Viable Revenue Stream Right Now
Everyone dreams of making money and being able to retire comfortably when they get older. However, it is important to make sure you are doing as much as possible to understand the best ways of making money in life.
Sure, starting your own business is a great area to begin when it comes to making money, but some people want something more than that. This is why more and more people are turning toward investments.
Now, this is a word that can strike fear and trepidation into even the bravest of souls, but that’s only because it’s such a complex and vast industry. Well, the good news is that these days investing has become much more of a viable revenue stream for regular people, and we’re going to look at some of the reasons behind why and how that is.
More of a Range Than Ever
The great thing about planning to invest in this day and age is that there are more great investment opportunities for novices than ever before.
You need to think carefully about what you are going to invest in before you actually part with any cash. But, the good news is you aren’t shackled by the limitations of just investing in stocks and shares like in previous years.
These days you have the chance to invest your money in anything from fine wines to whiskey to art. Making the right choice is important in helping you make a more secure choice, and improving your options in the future as well.
Plenty of Information
Something else that really helps a lot is the fact that there is so much more information these days to learn about investing. You must make sure you learn the ropes before you get started as this will help you make more sensible and secure choices.
There is plenty of information online that you can refer to these days, and you can even download apps to help you too! Apps like Stash or Robinhood are investment apps that can help you trade the stock market no matter where you are in the world. Making full use of the information and apps available is so important so you can protect your money and make the right kind of investment.
Never Spend Too Much
The best way of investing properly and turning this into a viable revenue stream is to be sensible. You mustn’t spend too much money because this can have a negative effect on your finances, and it will really put your financial security at risk. If you set yourself an investment limit or budget, you can see to it that you only spend within your means.
Keep in mind that you won’t be seeing an ROI from your invest for a while, so this needs to be money you can afford to be without for a few years. Regulating how to spend the money is one of the most important things you can do when it comes to investing wisely, and one of the best ways to turn investing into a viable source of making money.
Investing is more popular than ever, and you will probably have considered it at some point in your life. There is no reason why you can’t get started with investing right away, but please make sure you know what you are doing before you get started.
What are you doing about investing? Are you a beginner like me or you a lot more savvy?
What’s your favourite way to put some money away each month?
If you’ve tried any of the methods above, I’d love to hear how it’s going for you.