The new year is here and we want to help you start it off in the best way possible. In these 6 weeks, we’re coming to your ears (and inbox) with a 6-step plan to help set you up for investing success in 2023.
What we’ll be covering:
- Where to start with your money
- Should you invest your emergency fund?
- How to supercharge your superannuation
- Common mistakes and how to avoid them
- The stocks and ETFs to build your core portfolio
- Automate your investments and get on with the year!
4. Common mistakes and how to avoid them
In this week’s ep, Bryce and Alec share their personal experiences with money mistakes they’ve made over the years. Yes, we host a financial podcast, but we also still make mistakes. This episode is designed to stop you from making the same ones and work out how to fix them!
[Listen to the episode here]
Action 1
- Looking back at your previous expenses can be super revealing.
- Things like rent costs and bills may have surged, or maybe you’re spending more on takeaway food.
- See where costs have blown out, and work out whether you can bring those costs back a little, or compensate elsewhere.
Action 2
- Save more than you spend. Simple as that.
Action 3
- With some bonus interest accounts you need to deposit money into them each month.
- Make sure you know what you need to do to maximise your savings returns.
- Keep on top of any credit cards.
A few other resources to help you…
- This article looks at 8 of the most common money and investing mistakes that people make. You’re not alone, everyone makes mistakes but if we get on top of them quickly it can really boost our finances!
[See these 8 common investing mistakes]
- These are 6 more general money mistakes and how to conquer or avoid them.
[Six avoidable mistakes and how to fix them]
This is an excerpt from our Get Started Investing Newsletter email. Once a week, for those , we’re featuring some of the most interesting content we’ve come across in this weekly email. No spam, we guarantee.