The best way to get started with investing is to start as early as possible, simple as that! Because that way it is going to be more beneficial to you later in life.
If you are clueless about what investing entails and you are not sure how to go about starting your investment journey- read a self-help book on finances, investment and saving money.
You need to put money aside so you can start investing. If you are a beginner or have not started at all, take a certain percentage of what you make on your first investment return and put it aside in a savings account that you are not going to touch.
Look into investment opportunities that appeal to your interests and you are certain will make best returns for you and invest your money again.
- Know what you are investing in
People invest because they know that it is a good idea and they want their money to grow. Investments are helpful in rainy days where you might have used up all your savings and in need of urgent funds.
However, if you were to ask people about what they are investing in, a lot of them would say ‘I don’t know’. Many investors don’t know because they leave their investment in someone’s hand and hope for the best.
Do not be like those investors. Being interested and paying attention to your investment does not only make it successful but also makes you aware of how much your investment is worth.
- Invest in something that interests you
Like, for example, investing in a start-up catering business and you also work in the food sector or you are a chef.
Your investment will align with something that you do daily, your profession, therefore there is no way you will abandon your hard-earned money in someone’s hands and just ‘hope for the best’.
You already know everything about the food market, so it will be easy to understand the value of your investment, to keep track of your returns and regularly checking up on it
- Set a time frame for your investment
The reason why you need to set a time for your investment is that investments behave differently. You may find that as time goes by the business will experience ‘hard time’ in making a profit and the market drops along with your investment share.
Whenever you decide to invest your money, you need to figure out how long you plan to invest for. To avoid disappointment and losing a huge percentage of your money.
If you are looking to invest for a longer period, make sure the market you invested in can weather the ups and downs and eventually make a good return for you.
- Have realistic expectations of your returns
Many beginners lose a lot of money by chasing after exceptional rates of returns. You can avoid this by carefully looking into every investment you make. Consult with people you trust and those who have experience in investing before you make a decision.
Do thorough research on your investment and estimated returns. The internet is a great tool to do this. Look into the company’s profile, how is the business doing and if it has potential to grow.
However you choose to invest do not put all your eggs in one basket. We all know that every investment experiences ups and down now and then. It won’t always be smooth sailing. Diversify your investment to avoid losing all your money at once.
Uprise.Africa is a great platform to do this. Look through different investment opportunities on our website and make your money work for you. From as little as 1000 ZAR you can get equity in some of the best startup businesses of the year! Why wait?
Invest today. Visit http://bit.ly/InvestUpriseAfrica
A qualified journalism alumna from the University of Johannesburg who’s passionate about writing and story-telling. She believes in social change, shifting the narrative around social behaviours and relations such as stereotyping, racism, and to live in a society where we can all be free to exercise our human rights.
Busisiwe lives by this famous quote by the great Nelson Mandela “It always seems impossible until it’s done”.