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Finding Confidence in Stocks

Published on 22/08/2022

Finding confidence when investing in stocks can sometimes be difficult. Investing can feel like it’s for someone else; someone who is cleverer, someone who has more money or time. But how about we reframe it?

You have spent hours of your time making money - your precious time is going towards building a business or working for someone else's business, essentially developing your career. From that, you are recompensed by way of a salary. You are sacrificing your time - doing whatever it is you do - for a salary. That money is hard-earned. So why not make it work for you?

When you realise that your savings - when kept in a high street bank savings account - are generating on average less than a percentage point in interest, you realise that your money isn’t doing anything. In fact, you’re probably losing money over the long term.

Say you’ve saved £10k - in a saving account with a 0.25% interest rate - that means you’re getting £25 a year from keeping your money there, even with a good rate of 1.7% now interest rates are up, you're only getting £170 a year. What’s the point of keeping your money somewhere it isn’t doing anything? That’s like money prison.

Add inflation into the mix and in 5 years your £10k savings will be worth about £7k…

Sure you can just leave it and hope for the best, let that imposter syndrome wear you down, but why? You (and your money) are worth more than that! Investing can be complex, but it doesn’t need to be difficult.

Like anything new, take a few small steps - even considering investing is a step forwards. And like anything in life, it’s never going to be linear. Markets go up and down depending on revenue, sales, global events, Elon Musk tweeting something, sure there’s a lot to keep track of, but let’s take baby steps.

First, you've gotta educate yourself. There are so many super cool people you can follow on social who are sharing their investment journeys. There are also brands and businesses (like us!) that post educational and interesting content out there about investing.

But don’t forget that social media is like Wikipedia - if you wouldn’t cite it as a source in your university dissertation, don’t use it to make investment decisions. Never take investment advice (or sweets) from strangers.

Use social to get motivated, to keep being motivated, to find a community of cheerleaders and to learn - make sure you have many sources: normal people, pros and businesses. The more you read, the easier it gets (we promise)!

There are also so many people offering newsletters about the topics you’re interested in, delivered straight to your inbox. Sign up to them, you never know what kernels of wisdom you might find. Watch YouTube videos, chat with friends and family, and always do your research.

Second, you just got to dive right in. Experience is going to beat anything you read. But take your time with it - we’re not in a rush here. Investing is for the long term, it’s not day trading or gambling. Start small and add more as you grow in confidence.

Investing legend Warren Buffet once said: “Success in investing doesn't correlate with IQ”. He puts success down to discipline and disposition: “what you need is the temperament to control the urges that get other people in trouble investing.

There is never going to be a perfect time to start investing, and your investing journey is never going to be perfect, so if you’re thinking about starting, now is the time.

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