On Sharemarkets

I met up yesterday with a few friends who have also gotten into the sharemarket recently. We shared our resources such as books, podcasts, movies on what we have been using to learn more about the stock market and what we have heard in our ‘research’. We discussed what we should buy, what we have bought, and what we are thinking of selling.

Who would have thought I would have been interested in the stock market 2 years ago? It always seemed ‘too complicated’ for me and seemed like an ‘adult and foreign’, risky and troublesome area to get into. I stuck with safe things like Bank Long-term deposits, saving accounts, and just worked and tried to save as much as I could.

Low risk = Low returns. That’s the way life is, if you don’t take a risk then you are less likely to gain more. Yes, the stock market can be quite volatile… the cost of something can swing depending on what time of the day it is…and it can seem like you are losing Or gaining a lot of money in a short period of time. But the truth is, you aren’t gaining or losing unless you sell the stock. You can keep holding onto a stock in the hopes that it will rise up once again. ..or alternatively you can choose to sell it and lose less than you woudl have if the company takes a downturn and becomes worth next to nothing.

I guess there is always going to be a risk in every you do. I have heard it being said a few times, “It is not about the timing of the market, but the time in the market”. 

You can only start earning when you start investing and building, growing and diversifying. But I think at the same time, you should always have an emergency fund of money to access in case something like a loss of income should occur,

Financial Health Check

I’ve been listening to a bit too many podcasts about money lately…as you can probably tell. I was listening to one particular podcast where someone on the show was making a website based on getting you better deals by allowing you to compare side by side what the different banks were offering in terms of things like term deposits, loans, etc. I can’t believe how much time it saves! So today, post work I have set about moving some money I have been saving up for my future house deposit and put into a 3 month term deposit…I highly doubt I will be able to purchase a house within the next 3 months, so better to maximise the interest I can get while it is in the bank.

I have a second account in which I have some emergency funds that I can use for spending, because I don’t want to lock away all my money in a fixed term deposit. I will use this money for things like unexpected expenses I may incur or for expensive things like specialist appointments… *Sad face*.

I wish I had done this earlier! It takes a lot of time though, trying to sort out your finances. As I also have multiple bank accounts across three different banks and so manyy bank cards…it’s hard to keep track of how much money I actually do have…xD yet great in a way, because unseen and forgotten money means I spend less!! I also have to remember to keep checking up on my stocks and to keep an eye out for good prices..and to remember to keep growing my rather small portfolio.

I still have much to look in terms of the superannuation..I think I will look further into it after I finish up my current contract…as I will have to combine that super with my other super account…somehow…

So many things to think about as an adult…who knew looking at your financial health was so important and took so much time? *sad face* BUT in the end, if you look after your finances, it will look after you in the future. *happy face* (hopefully).