Hi everyone, I am completely new to investing and will like to buy my first investment as soon as possible. I have started to buy into shares, does anyone have any advice or suggestions they can make to boosting a deposit?
Hi There, I am on a very low income and also supporting my partner. I took the following (possibly extreme) actions to boost my income so that I can invest:
Rent for as cheap as possible. Sold my car (share car between us). I Walk to work. Take a packed lunch to work. Don't buy coffees/snacks. Don't have any magazine subscriptions / gym memberships (I use the park equipment nearby). I buy cheap clothes only when I absolutely need too. We rarely eat out or go to the movies. When we do it is at the cheap cinema on a cheap night. I don't socialise much outside of work (as I have two very social jobs) oh and I gave up alcohol for a long period of time and calculated that I saved myself at least $3000 per year during that dry spell!
When I started I worked three jobs (1 part time, 1 self employed and a casual sunday retail job - all up 73hr weeks), I now have Sunday's off to do this course, manage and monitor my properties. I have recently started trading shares too. My approach is probably a bit extreme but I am determined to retire by 2022. I hope this helps.
edit - also I had no debt to begin with, if you have debt such as credit cards, store cards, personal loans, pay these off first!
Wow Azalia, I am super impressed at your discipline and commitment. I have a feeling you are well on the road to reaching your goal with that level f commitment. Good luck to you! Can I ask how old you are? I wish I had that commitment younger, I'm now 45 and having to fix the mistakes I made and build a new path.
Hi Geoff,
For success in shares the most important thing is to retain your capital and to manage your money so you can profit ... notice I didn't say anything about picking stocks, that comes last ...
Read books by Aussi Darryl Guppy for good money management and trading skills
Hi There, I am on a very low income and also supporting my partner. I took the following (possibly extreme) actions to boost my income so that I can invest:
Rent for as cheap as possible. Sold my car (share car between us). I Walk to work. Take a packed lunch to work. Don't buy coffees/snacks. Don't have any magazine subscriptions / gym memberships (I use the park equipment nearby). I buy cheap clothes only when I absolutely need too. We rarely eat out or go to the movies. When we do it is at the cheap cinema on a cheap night. I don't socialise much outside of work (as I have two very social jobs) oh and I gave up alcohol for a long period of time and calculated that I saved myself at least $3000 per year during that dry spell!
When I started I worked three jobs (1 part time, 1 self employed and a casual sunday retail job - all up 73hr weeks), I now have Sunday's off to do this course, manage and monitor my properties. I have recently started trading shares too. My approach is probably a bit extreme but I am determined to retire by 2022. I hope this helps.
edit - also I had no debt to begin with, if you have debt such as credit cards, store cards, personal loans, pay these off first!
Wow Azalia, I am super impressed at your discipline and commitment. I have a feeling you are well on the road to reaching your goal with that level f commitment. Good luck to you! Can I ask how old you are? I wish I had that commitment younger, I'm now 45 and having to fix the mistakes I made and build a new path.
Susan Kilbride
Hi Geoff,
For success in shares the most important thing is to retain your capital and to manage your money so you can profit ... notice I didn't say anything about picking stocks, that comes last ...
Read books by Aussi Darryl Guppy for good money management and trading skills