You have a good job and you’ve gotten some extra money stored away. You know that the money is just sitting there and isn’t doing anything for you. You’ve considered investing your extra money into the stock market but you have no idea where to start.
Luckily you are not alone in this situation. Everybody has to start somewhere with their knowledge of the stock market and we are excited to share some of our favorite tips to learn more about the stock market.
Here are five of the most useful tips that can be helpful if you are new to the stock market:
That’s right, it’s time to get your subscription to The Wall Street Journal. Not quite, you don’t have to become a financial expert to be successful when investing in the stock market. While magazine subscriptions are definitely a good thing, there are other options that don’t have a monthly subscription attached to them.
Online resources such as Google or Yahoo! Finance are a great way to start learning about the stock market. You can start learning about what stocks to buy, trends and the different verbiage that is used in the stock market.
If you want to get serious about reading about the stock market, learn from the experts! They have written books about why they were successful and how you can pattern your investing after them. You can learn how they started off and where they ended up, giving you inspiration.
- Ask For Help
Let’s be honest, we don’t all have a bunch of extra time to search for and read books. Frankly this is something that we would rather have someone else do for us. There are a bunch of different options and people who are willing to help you out.
There are companies that are entirely devoted to helping you learn and invest in the stock market. Companies such as options animal are devoted to giving their clients the best resources and education about the stock market. These companies are perfect if you feel like you need some extra help and mentoring through this new learning curve.
- Start Following the Market
You may feel a little lost at first with all of the new words and phrases and you may not know what all of the graphs and signs mean. This is completely normal and with time you will get a grip on the different phrases and signs that are used.
You can check the stock market by listening to the news, surfing the internet or looking at newspapers. The more time you spend in the stock market the more you will understand it.
With the advancement of smartphones and technology in general, the stock market is something you can access from your phone. There are a variety of apps that are geared towards beginners and are easy to use.
Apps such as Acorn, Robinhood and Yahoo! Finance are fantastic apps if you are a first time buyer. Robinhood is a commission free app that has an amazing referral reward system. Acorn is a great app that lets you invest your spare change. Yahoo! Finance is the place for the latest articles and lets you keep track of all of your investments.
- Take Classes
These classes and seminars can be costly but they are usually worthwhile if you apply yourself and take time to make new connections. You can learn great strategies and learn about a lot of resources you didn’t even know existed.
A lot of these classes can be found online, through websites such as Skillshare or Udemy. Classes and seminars online are a great option if you are too busy to take time off of work to travel to a seminar or class for a week or weekend.
Excited to start learning about the stock market? If you have found other strategies for learning about the stock market join the conversation on our web page!