Financial Tips For The New Investor

The new year is only a few days away. Get a jump start on financial success and claim what’s yours!

Advertisements
  • Getting 2019 started right concentrating on three key steps.

  • Results may vary depending on your investing style.


The new year is on its way and you are ready to get serious about investing in the stock market! Now you can either jump right in and invest, or you can take necessary precautions and plan for success.

It took me some time to really get a grasp of how the stock market works and what investing style worked best for me. I look back and wish I wouldn’t have rushed the process at first, and because I did it cost me hundreds of dollars. So learn from my mistakes and check out these financial tips before you dive right in this year.

Minimize your expenses and relinquish your debt.

Be Aware Of Your Spending Habits

This is the most challenging part of all, but if you are afraid to check your personal bank account on a daily basis, don’t invest in the market. Learn to manage your personal finances, minimize your expenses and relinquish your debt. Being responsible for your spending habits is a must if you want success with your investments.

Life catches us by surprise often…

Emergency Savings

I was told by a wealthy businessman to always have at least $1,000 emergency fund on the side of your investing endeavors. And once you have started with that, build it to $2,000 (and so on). If you have a family, your emergency fund may need to be $3,000 – $10,000. But, if your main source of income stopped today, how long could you survive from your current savings?

Why?

Life catches us by surprise often, so it’s best to have a side savings fund to be prepared- sudden surprises such as car repair, house repair, etc. It’s not recommended to have all of your savings placed in the stock market. If you placed it all in a brokerage and suddenly needed the money, it could take several business days to complete the transactions (fees could be involved). You may also consider holding your securities long-term for tax purposes.

Concentrating on these two tips will help you to become a better investor in 2019. Be patient and learn from others. It’s very common for investors to have come excited, but have a strong game plan and keep your eyes open to new opportunities.

Please see About Me & Disclaimer for additional information about Black Tea.
Closing Disclaimer:

I am not a certified professional, nor responsible for any of your gains or loses. I’m simply a passionate stock investor who loves to share my experience with other women/men who want to learn general information about the market. May I encourage you to study and evaluate before you make any purchase or sale in the stock market. We are a participant in the Amazon Affiliate Services LLC program, an affiliate advertising program designed to provide means for us to earn fees by linking to Amazon.com and affiliated sites.

Advertisements

App Review: Stash

Let’s talk about one of the newest innovative investing apps, Stash.

Stash is a great micro-savings app that let’s you start investing will as little as $5. With visual categories, it gives you a vivid selection of sectors you may want or like to invest in- ETFs named with “roll with buffett” or “small and mighty”.

Stash encourages the new investor to save their money into the account by promoting an option for weekly or monthly deposits. Stash will charge 0.25% to the account for those who have balances over $5,000. For accounts under $5,000, there is a $1 charge ($2 for retirement accounts).

I would reccomend Stash for the new investor- college student, single mom or anyone who wants to start but dosen’t have the time to learn about the market. Stash is very simple and easy to use, try it for yourself.

Stash is avalible to download and Apple and Android devices.

4 Steps to Make 2018 the Best Year of Your Life

Do you see yourself going through the same routine every year? Are you tired of going through the motions and want a positive, yet permanent change this year? Below are four simple steps I’ve discovered how you can make this year the best year of your life.

Treat Yourself

Everything in our world is fast paced. We heat up breakfeast with quick heating microwaves, drive to work in fast cars and drive to pick up fast food for lunch. By the time you get home and settle down for the night, it’s already 11:00 p.m. and you’re already tired from the long day. It’s difficult to squeeze in time for yourself, but if you demand one hour out of your day to take a longer shower, get up and hour early to sit and enjoy a cup of coffee or cook a special meal for yourself, you will then value the extra time you cut out of the day that was specifically made for you.

Books

There was a time when I used to loathe reading, but look at me now, writing blogs and reading at least three to five books a year! That’s quite a change from five years ago, sitting in community college bored out of my mind. Now I know that it wasn’t reading I hated, but the type of books I was reading. I used to read fiction, but I learned that I really enjoy reading self-improvement books and books about personal finance and investing. I love the fact that I can learn so much from reading one book and improve my financial gain and not pay but $10 dollars for it. What kind of books do you like to read? Knowledge is power and reading helped me become more confident in myself when handling business and learning how to hold presentations. Pick up a book at the store and read 3 pages a day before bed or in the morning. A positive read can begin or end a great day.

I’m Busy

Have you ever asked someone how they have been and all the response you recieved was, ” Oh i’m fine, just busy” Or ” I’m always busy”. I hear these responses so much, I think the words “I’m busy” is just an automated response we use to make up for common conversation. May I advise you to take a different turn this year and evaluate your busy. What exactly are you busy with? Determine this year to be productive instead of busy. Don’t let life carry you out to sea with anxiety and angst, but be the captain of your own ship and sail to where you want to go.

Closer Friendships

Austin and I are always meeting new people and building new relationships. The main thing that I’ve learned is that people love talking about themselves. When you take an honest interest in the person you are speaking to, they immediatley take interest in you-though at things these can become an endless conversation about themselves. This year, take the conversation with your good friends (or associates) a step closer and talk more about their interests and the things they like to do instead of grumbling about what your co-worker did to you today or who cut in front of you in traffic. No one wants to be around Negative Nelly. A positive approach is always the best approach.

Conclusion

Overall, if you can take the time to value you, appreciate others and start off the day positive, every year can be a great year because you decided that you will start to have great days. But making 2018 to be the best year starts with you. How will you end this year? There is still time to make a change. Be the best you this year and make it the best year of your life!