Investing is simply using your money to create wealth for yourself by making the conscious decision to be financially smart through structured long or short term investments.
Changing your spending habits so you can set aside money to invest may not seem so easy at first, but the benefits and the opportunity to improve your future makes it worth it.
5 steps to start investing;
- Make wiser spending decisions: focus on your needs rather than your wants. Once you have made the decision to begin your investment journey, it is important to cut down on unnecessary expenses.
- Master the art of budgeting: set a goal on how much you can invest either monthly or quarterly. Create a realistic monthly budget and set aside a percentage to be invested; remember to spend less than you earn.
- Spend what is left after investing: once you have identified the amount you can invest as a beginner, only spend what is remaining. It is the wise thing to do which will guide you on a path to financial discipline.
- You can start small: setting up an investment account does not mean you require a huge amount of money to begin. Different investment categories are available for you to choose from based on your earnings and goals.
- Seek expert financial advice: contact an asset manager like FBNQuest Asset Management to discuss your financial goals with an expert, so that you are clear on your investment strategy and achieving these goals in the long run.
FBNQuest Asset Management, provides several investment options and you can start with investing as little as N5, 000 in a mutual fund.
If you are ready to start investing, click here.