I want to manage my finances
How to invest in three steps
What are the basic steps for making your first investment?
Step 1: Save
There are many tips for finding extra money. Here are a few:
Step 2: Understand the characteristics of an investment
This is the amount of money earned on the money invested. Some investments guarantee a rate of return. For other investments, you may not know the rate of return until the investment reaches maturity or when it is sold.
This is the possibility of making less money than you expected with your investment. It is also the risk of losing some or all of your investment. To find out an investment's level of risk, ask questions and read the information that accompanies the investment.
The ability to convert your investment quickly into cash. When will you need your money or when would you like to recoup the investment? This will influence your investment choice.
Step 3: Know what kind of investor you are
Before investing, evaluate:
A financial professional can help you evaluate the situation.