My first time investing with EasyEquities

As part of the CN&CO weekly fin-tech wrap up, my blog pick was “How many South Africans are living from paycheck to paycheck”. This article had me thinking about the possibility of becoming part of the statistics and getting trapped in debt I will probably have to pay for my whole life – leaving me with nothing to save. With my very first pay-cheque on the way, I have decided to be smart with my money and invest a small amount monthly.  I hear it’s like farming: “You reap what you sow”.

ladybossI recently opened an account with EasyEquities and put in R100 into my account. Unfortunately there’s no getting around the FICA (Financial Intelligence Centre Act), which is a bit of a pain, but manageable, and FINALLY I was able to invest in a company of my choice.

I always wonder how much I would have now had I invested my allowance when I was still in school – this is why I think it will be a great idea to open a trust fund for my baby niece too, which her parents and grandparents can contribute to. This way she won’t have to wonder “what if?”.

Here are my beginner tips for investing:

  • Prioritise – Do you want it or need it? Avoid unnecessary expenses
  • Discipline – If you earn R3000, pretend you earn R2900 and invest R100 each month
  • Choose EasyEquities. Asides from really being easy to use, you also get tax free savings account at the same time
  • Buy shares in a company you trust most (where are you shopping, banking, what is your medical aid etc)
  • Do not procrastinate, life is too short and time is on your side if you start NOW!