Investment decisions aren’t to be rushed, they can lead to a big or small outcome depending on how much research you are willing to do. Let’s jump into the 5 things we recommend you consider before making those difficult investment decisions.
1. Have a conversation with the corporates
If you can organise a call and get talking to the corporates within the company you plan to invest in, this will be extremely beneficial. You can ask for statistics, their plans for the future and get a much better insight into the company and how it works. Something small might put you off investing or alternatively make you feel more secure in your investment decision. Forming a personal relationship with individuals within the company could lead to better treatment and be a win for you.
2. Use data and insights as useful research methods
There is nothing more tiring than going through statistics and data to make accurate conclusions. When it comes to investing, this can be even more overwhelming as you know your money is involved. Instead of tearing your hair out, investment insights are available to save the day. They can help you make complete sense of the insights around your investments by sharing their interpretation of narrative, content, connection, causality, and the general meaning behind the data. If you want your investment journey to run smoothly with minimal time analysing data, it is worth using a human insights company to help you make profitable decisions.
3. Make sure you have an emergency fund
It is easy to get excited and invest too much money into companies you believe will earn it back for you, but do make sure you’re keeping an eye on your personal finances. You should have an emergency fund or enough money aside, in case the company you invest in doesn’t end up going so well. Life brings surprises and you never know what could happen, for example, Covid-19 came out of nowhere and had a negative impact on many businesses.
4. Be careful to avoid fraud
Be aware of opportunities that sound legitimate but don’t quite add up, con artists have been known to create news to lure in individuals looking to invest. Have a conversation with the closest people around you, your friends and family to help you make a well thought out decision. Alternatively, use a human insights company that has access to the insights you need.
5. Wipe off your credit card interest debts
If you owe money on a high-interest credit card, it can be stressful, and it should be a priority to pay it off as soon as you can. Paying off any kind of debt will feel like a huge weight off your shoulders, especially if it’s a credit card with a high-interest rate. Many like to clear their debt before investing their money, this way they won’t risk losing everything they have. However, some believe investments will help them pay off their debt, but this can be quite a risky move.
It’s important to spend your time wisely researching before you make investment decisions or go to the companies that will provide you with the statistics you need. If you want to take money out of your investment account, you will need to sell stocks or other investments first so think about the amount you want to invest.