Whether it’s investing or trading, you’ll need a solid financial education. Here’s our quick guide on ways to start boosting your financial literacy.
With the Australian housing market seemingly out of reach for many, with access to the housing market and owning a home increasingly dependant on who your parents are (a big change from 35 years ago when home-ownership rates were high for all levels of income), odds are you’re looking for additional ways to secure your financial freedom.
In the age of the side hustle, the gig economy and work/life balance, superannuation levels are starting to dwindle and millennials, Gen Y and Gen Z are looking down the barrel of potential hardships in later life if they don’t do something about it.
This article is not going to start talking about reducing the amount of “smashed avo on toast” you consume, but more about what little things you can do on a regular basis to start out in the share market.
There are many ways to start investing and building a nest egg and beginning your journey towards financial freedom.
Valuable tips on how you can start out in shares.
Whether you’re enjoying the freedom of being a professional without kids or you’re a tradie with a family – no matter your profession, everyone will retire at some stage.
If you have a daily commute or sit down and watch Netflix each night for a few hours – why not change your information consumption habits to something a little more worthwhile – like your future.
With online share courses, podcasts, trading games and a wealth of educational information available all over the internet, why wouldn’t you get going on your path to a more financially comfortable future?
The hardest step is your first one, if you are going to try and set yourself up for a more financially secure future, enjoy the holidays or the fancy car – you need to get some education regarding how to trade shares.
Explore micro investing
Thanks to innovative and disruptive savings mechanisms such as Raiz, ING, and Brick-X, when you purchase that ‘smashed avo’ you can ‘round up’ your transactions to be put into a savings account, managed fund or invest in ‘bricks’ of real estate, so you can get into the market sooner.
Just like our addiction to ‘payment plans’ and ‘buy-now-pay-later’ schemes, you can be building real wealth, or your first $1000, $2000 or $5000+ at least to go towards investing into shares – all the while going about your daily grind.
Micro investing allows everyone to invest and, if you set it up to automatically direct debit, you will see the results happen before your very eyes!
Remember – Rome was not built in a day!
If you’ve started some courses, listened to a few podcasts and are reading the Financial Review every week to check out what is happening as well as honing in your skills of the markets – now what!
One of the hardest things for many people to grasp about investing, is you are looking at the long term, investing in companies that are going to grow and provide you with returns in the long term.
As a new share investor, you need to give yourself time. Time to learn, time to make mistakes and time to succeed; you won’t just get it because you want it.
How to get the best share market education?
There are many share market courses and online webinars available around the web. To select the right one for your needs and goal, you need to explore your own objectives, and ask yourself the following:
- Why do I want to learn about shares?
- What am I hoping to achieve from investing?
- Do I want to trade or invest?
- Do I learn best in a classroom or online?
- Can I teach myself, or will I need guidance?
We are all different in terms of how we learn, what we are looking to achieve and why.
For example, if you are self-driven and like online courses, then our own Share Trading and Investment Course is an exceptional platform that’s broken up into a range of modules with videos, reading and workbook content. If you’re looking for a self-paced online course that is available on-demand, this course is an exceptional foundation for any potential investor looking to start out.
If you learn by doing, then in addition to the course, you may like to play the ASX share market game. This handy learning tool allows users to buy and sell shares with ‘fake accounts and money’ but is affected by the real market movements, showing you the profits/losses you could have made.
Finally, if you need that personal face-to-face interaction, then potentially one-on-one or group workshop courses could be more suited to what you are looking for.
A final word on starting out in shares
It can be daunting when looking to trade shares for the first time, or just looking to educate yourself and the experts at Smart Money Company offer share trading courses and share market training to help you learn the stock market.
Contact Smart Money Company today and get a better understanding of how you can learn the stock market so you can make your assets work harder for you!