@owentalksfinance: ✅ Investor checklist - Part 1 ✅ We all want to get to a point where we are investing but you might feel like you don’t know where to start 🤔 In this checklist I run through the steps you need to take to set yourself up to get started with investing. 🪜Step 1 - Audit your expenses 📋 You need to know how much you are spending on a day to day basis. Do you have expenditure that is literally being wasted on a subscription that you forgot you had? 🍔 Or are you spending so much more money on food than you ever realised? Auditing your expenditure gives you a better idea of how your income is being spent currently? 🏦 Download 3 months of bank statements and put them into a spreadsheet and try and categorise them. 💻 I have a spreadsheet which can give you an idea of how I categorise my spending. Comment ‘BUDGET’ and I will send you the link to it. 🪜Step 2 - Configure monthly budget tracker Once we have an idea of how our income is being split, we need to complete an optimised version that prioritises savings and investments. 🔟 As a rule I like to save at least 10% of our income and then invest 10% of our income. That way 80% of your income is being spent how you see fit. 🪜 Step 3 - Allocate your savings and investments 🤦🏻♂️ So you may have configured your current finances and think there is no way I can afford to invest 10% of my income right now. 💵 Start to think what could you afford? Could you commit to £50-100 per month to start with? Or can you prioritise adding to an emergency fund to ensure you are covered if something outside of your day to day expenditure went wrong. 👀 The next video in this checklist is coming soon. Keep an eye out for it! #Budgeting #Finance #Couplesfinance #Investments #Investing #stocks #BudgetTracker
