@owentalksfinance: ✅ Investor Checklist Recap ✅ If you’re feeling overwhelmed about where to start with investing, here’s a step-by-step summary of everything you need to know from my checklist to get started. For more detail you can watch my previous videos in the mini series. 🪜 Step 1: Audit Your Expenses Track your spending over the last three months to see exactly where your money is going. Use a spreadsheet to categorise your expenses and identify areas where you can cut back. If you want my budget tracker, comment ‘BUDGET’ and I’ll send it to you! 🪜 Step 2: Configure a Monthly Budget Tracker Once you know your current spending, optimise your budget to prioritise savings and investments. Aim to save and invest at least 10% of your income each while using the remaining 80% for your other expenses. 🪜 Step 3: Allocate Savings and Investments If 10% feels like too much, start small—commit to saving £50-100 monthly or build an emergency fund. The key is consistency. 🪜 Step 4: Open a Stocks and Shares ISA Choose a provider with low fees and a good range of investment options (e.g., Trading 212, Vanguard, Freetrade). A Stocks and Shares ISA is tax-efficient, shielding you from capital gains tax, income tax on dividends, and further tax on interest. 🪜 Step 5: Buy Index Funds Index funds are a low-cost, diversified way to invest. Options include: • VUSA: Tracks the S&P 500 🇺🇸 • VWRL/VWRP: Globally diversified ETFs 🌍 • Emerging Markets Index Funds 🇨🇳🇮🇳🇧🇷 Diversify your investments to spread risk and maximise growth potential. 🪜 Step 6: Focus on Growing Your Income To accelerate your investments, work on boosting your income. Consider: • Advancing in your career • Starting a side hustle or business • Negotiating a pay rise • Moving to a higher-paid role Avoid lifestyle inflation and channel your extra income into investments. Investing is a journey. Start small, stay consistent, and watch your wealth grow over time! #Budgeting #Finance #Investing #Stocks #ISA #IndexFunds #VUSA #VWRL #BudgetTracker

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Saturday 25 January 2025 09:54:43 GMT