No one else cares as much about your money as you do.
I should have learned the lesson the first time but I had to do it over and over again.
”My boss wasn’t honest. He short paid me for months.”
”I set up a payment plan through payroll and the clerk was pocketing my money instead of sending it to my savings account.”
”My bank was charging me too much.”
”There were extra charges coming out of my bank account.”
Remember: You are the ONLY person who really cares about your money.
Learn about investing so that you can make decisions based on what you know, not what someone is telling you. Your decisions may not always be right, but at least they will be yours
- Understand how the stock market works.
- What is a self directed investment account and how do you set one up?
- Use your bank’s online practice account to learn about buying and selling investments.
- Learn the lingo. Portfolio, dividends, ROE, back end load, mutual funds, stocks, GIC’s.
- Invest in yourself by taking a course or by doing research online.
- Look closely at how investment advisers are paid, and how mutual funds take a piece of your earnings. These fees add up.
- Read investment newsletters to understand different trading techniques.
- Don’t get swept up in their sales pitches, observe and take notes.
- Decide what your investing goals are. Do you want to support your family or are you planning to reinvest to build up your portfolio.
It’s worth the time to educate yourself. Pay attention to your money. No one else will care as much as you do.