We designed this series of articles for those who want to take control of their finances, but are unsure where to begin. If that sounds like you, our quick reference guide can be treated as a step-by-step guide to getting on your way.
Revisiting your investment strategy
Learning and planning is exhilarating. Everything is new and you’re excited to get started. Once you start putting your financial plan into action however, you will become part of the hurry up and wait club. Here are 3 common responses that you need to resist.
One share isn’t enough
Volatility is risky, because a share price might be down on the day you need to sell. If you only have a few shares, it’s no big deal But as your share portfolio grows, selling at a lower price can cause real damage. Time and variety reduce this risk.
My first investment
We explain several ways to start investing in shares, through your employer, an RA or Unit Trust provider, an independent financial advisor, a stock broker or even a robo adviser. Go for the option most comfortable to you right now, because time is the most important ingredient in investing.
Types of savings
Thanks to the money-making twins you know that savings protect your money while investments grow your money. Money that you’ll need in the next few months or the next five years, goes to Savings. But you can make find ways to make Savings work a little harder.
Choosing between saving and investing
You want to keep some of your money safe in case you need it, but you want to put some of your money to work so you can stop working. Deciding how much money should go to investing, and how much to savings, depends on one question: When do you need your money back?
Saving and investing are not the same
Saving and investing are similar, but do different things. Pretend they’re twins – one an entirely forgettable accountant, the other an adventurer who met Madonna
What’s in the way of financial independence?
There are only four things that can prevent you from achieving financial independence. Luckily they can all be overcome if you understand them, and they are all really easy to understand.
Four roads to discipline
Financial change happens one pay cheque at a time, but there are many things we can do between pay cheques to ensure we are better at our finances from one payday to the next. Consider this your how-to guide for financial discipline.
Am I ready to start investing?
Prepare the ground before you start to invest – a firm foundation can protect your investments and ease the anxiety of making investment decisions. This is too important to rush.