It's amazing that 1/6th of 2017 is already gone and that will make today's post even more important. Read on for some tips that could help you change your finance year!
Top 5 reasons why you're not investing right now!
You don't have the money
This is a classic and previously valid reason why you may not have been able to invest. Due to the costs traditionally involved in investing with brokerage and transaction fees it has not been worth your time if you have less than $1,000. With the growth of P2P lending, Acorn and Betterment can take away this barrier to entry.
You don't have the time
One valid excuse given that many of us have busy social and family lives. Investing and finances aren't the biggest priority when there's 10 other things to get done. This is similar to our health, which may not always be a priority. Consider the power that you can gain if you get your finances and investing in order though? Plus there's services like a Betterment or Wealthfront to help out with the process
You don't have the knowledge
100% a valid reason although with most areas in life you're unlikely to have the knowledge or time to acquire said knowledge. What the financial services industry does is make it more complicated to discourage you from taking control. Ask questions, be curious and eventually you'll realise that it's not as complicated as the industry will have you believe
You're afraid of losing your money
Everyone well most of us are afraid of losing money. While this is a valid fear, another fear not listed here should be a fear of not having enough money when you decide to stop working or if you're injured. A way to potentially overcome this is start with small steps.
You're too young to invest
While a lot of people will use this one it is one of the more strange ones floating around. Once you turn 18 in Australia, this can be a perfect time to consider looking into the markets and connecting with the personal finance community as they say "compound interest is the 8th wonder of the world"
Keep in mind to speak to a finance professional before implementing any of the above ideas and that this does not constitute personal advice.
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Remember to live you Money Glee!