in October 2021 with the mission to empower members with the knowledge to take control of their finances and to become confident investors. As our traders get more familiar with trading and investing through our Fantasy Share Portfolio Competition, a question we are hearing more and more is: “When should I start a ‘real’ investment plan and how much is enough to start with?”
As a starting point, before you even contemplate investing, you must be able to meet your annual expenses. And, as we all know, life can be very unpredictable. Building a financial safety net so you don’t have to borrow if something unexpected happens to you or your family is a priority. A rainy day fund can cover an urgent expense that you haven’t accounted for, like a medical bill, or house or car repairs.
There is a misconception that investing is only for people with piles of money. You don’t need a large sum to start investing. You will be amazed at the difference investing a small amount every month can make.Setting goals or targets can make this process much easier.
As we get closer to the finishing line for our Fantasy Share Portfolio Competition and that gorgeous Boodles €3,000 prize, we will be reviewing participants’ progress and will share some great trading tips.