Take an honest look in the mirror. What can you afford to invest? You don’t need lots of money to get started and it’s better to start with a small amount than not at all.
- Set aside some money in an easy-access savings account for any emergencies and short-term spending needs.
- Pay off any short-term debts which have high interest rates
- Consider reducing the term of your mortgage.
- Consider life and income insurance.
When you start investing
- Don’t invest money which is critical to your day-to-day life.
- Don’t invest more than you can afford to lose.