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The first step towards investing in the stock market

by , 10 April 2014

If you're seriously considering investing in the stock market, there are a few things that you need to do. The most important thing is you need to have investment capital to invest. You need to be sensible about the money you're going to put to work for you in the stock market. Any money you invest is at risk, so you can't use money that you need for other purposes. So with this in mind, let's see how you can get your investment pot ready…

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Former music teacher reveals 16 secrets to unlock the vaults of the JSE – doubling her investment returns in 3 days…

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How much money you need to start investing in the stock market

To begin buying shares in the stock market, at the very minimum you need R10,000. It’s important that you use cash that you don’t have ear-marked for other purposes.

One of the worst things you can do is use debt, the research team at The Unconventional Millionaire warn. This just increases your risk and leaves you with undue worry.

So if you don’t have a pot of money that you can use to invest, start saving now and it won’t be long until you’re in a financial position to invest.

To boost your investment pot, here are six ways to get you started…

Once you’ve mastered THIS secret, you can use the stock market to write yourself a 13th cheque

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Six easy ways to boost your investment capital

#1: Stop eating out
By stopping eating out or getting takeaways, or at least reducing this, you’ll save a considerable amount of money. Start taking lunch to work too. By cutting costs here, you can put your savings towards buying shares that could leave you richer.

#2: Invest your salary increase and bonus
When it comes to annual review time, put your increase away every month. If you get a bonus, put that away towards your investment pot. You won’t miss it.

#3: Change an expensive habit
If you smoke, stop. If you splurge out thousands a month on clothes, cut it down significantly. Take a look at where your money goes every month. You’ll be surprised how much of your money you waste on things you can do without for a while.

#4: Rent a room out in your house
By taking on a boarder or even house sharing, you can share the costs of running a home. Think about rent, electricity bills, security costs and all the other expenses that go towards running your home.

#5: Watch every cent you spend
For a month, use a notebook or your smart phone and record everything you spend money on. You’ll be amazed to see where your cash goes. You’ll definitely find areas that you can cut spending on.

#6: Car pool
With petrol prices at all-time highs, think about carpooling. Not only will you save on petrol, you’ll reduce the wear and tear on your car.

So there you have it, the first step towards investing on the stock market.

The first step towards investing in the stock market
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