It’s the oldest cliche in the book: new year rolls around, and you make a bunch of resolutions. You’re going to do yoga 5 times a week and eat nothing but quinoa and leafy vegetables. You’re going to call your family more often, and you’re going to, once and for all, kick coffee for good.
You know exactly how this one goes…
March rolls around, and you’ve done yoga twice, they still recognise you at the local fast food joint, and by 10am you’ve had your third long black. And your family can’t remember what your voice sounds like.
Of course, the problem with those new year’s resolutions is that sometimes you can get a bit carried away. It is great to set crazy wild goals for yourself at this time of year, but it’s also good to make some realistic ones too.
Know where this is going?
You’ve probably figured out what we’re going to suggest: make it your new year’s resolution to start investing!
Here are some tips how.
Keep it manageable
If you’ve never invested before, start small. The whole point of Sharesies is to help you “have it all.” By investing small amounts, you get the benefits of investing without having to make too many tradeoffs in your other spending. Also, by keeping it an amount you can afford, you’re going to be more likely to stick with it.
Even $10 a week is a fine amount. It may not seem like much at the time, but if you stick to it for remember: it’s a whole lot more than $0 a week!
Keep it steady
Resist the urge to just buy shares “now and again,” because “now and again” quickly turns into “never.” Rather, make a habit of buying shares on a regular basis. Your payday is probably a good day, as you’ll know you can afford it that day.
There’s another benefit to buying shares on a regular basis: volatility. Volatility is a fancy word for the fact that shares tend to move around in price.
If you buy shares on a regular basis, you’re more likely to get a wide range of prices. This means that when prices are low, you’ll get more bang for your buck by getting more shares. Of course, you’ll also have high prices to contend with, but the low prices will help to balance that out.
That’s all she wrote
So that’s it! Your foolproof plan towards a manageable, sustainable new year’s resolution. Now login to Sharesies and make it happen. Make 2018 the year of becoming an investor!
And call your family 😜