For many years I had been very interested in shares and the stock market, but I had no understanding of how any of it worked and nobody to ask. I didn’t know a single person who understood the stock market or who had purchased shares, and I was not willing, nor able to afford, to pay a professional for financial advice. To be perfectly honest, I’m not even sure who you are supposed to see for advice on investing. Accountant? Financial adviser? Stock broker? I don’t know. But, I do know they are expensive and as a person who didn’t have a lot of money to begin with, I definitely didn’t want to pay for investing advice if it could potentially cost me more than I could ever earn back from shares – IF I was ever able to buy any.
I really didn’t know anything. I didn’t know about stock brokers or how to actually go about buying shares. I didn’t know how to read financial reports or identify good investments vs bad investments (and to be completely honest I still don’t). I had no idea how much money you needed in order to buy shares, and even when I started doing a little “research” and saw that with certain companies/banks/platforms you could start investing with as little s $250, I still didn’t understand if there was any point in doing it with so little money as I had learned there are always fees involved. If I invested with a small amount of money would the fees leave me with an irreversible loss? Even if the shares gained value, how long would that take? Would I invest $1000 and only come out with $1010 after 30 years? How the heck does this all work?!
I had about a million other questions that I thought would never be answered. I thought the stock market was out of reach for me and that it was something I could never be a part of…then, along came Canna from the Youtube channel Sugar Mamma and she changed everything.
Canna is a financial advisor from Sydney, Australia who started a Youtube channel about all things money. Now these are my own words, not hers, but her channel is aimed at empowering women by teaching them how to be financially independent. She talks about budgeting, saving, retirement and most excitingly, investing in the stock market! Canna has a number of videos explaining what shares are, what different investment terminologies mean, how to buy shares, strategies for growing your portfolio, how much money you need in order to invest, and much more. She started something called the $1000 project, where she buy shares in $1000 parcels. With her audience she shares how she earned/manifested/accumulated each $1000 parcel, which shares she chose to invest in and how much she is receiving in dividend payments. I find it all very interesting, exciting and inspiring.
Thanks to a number of her videos, I was finally given the tools, knowledge and confidence to invest in shares myself. Many of the questions I had were answered and I finally learned that I COULD be a part of that financial world that I had previously thought was closed off to me. I COULD buy shares and have my piece of the money pie.
Through Canna’s videos and my own google searches I learned about stock brokers and was able to find a list of registered stock brokers in New Zealand (you can find this here NZX registered stockbrokers ). I learned that you don’t have to be wealthy to buy shares and I learned that it IS worthwhile investing with smaller parcels of money (ie you don’t need 10K).
Although investing can be done with less, I have been following Canna’s $1000 project model, and have been investing in $1000 parcels through ASB securities. So far I have only invested $2000 across 2 companies, but it excites me immensely knowing that I can continue to increase this, and grow my portfolio over time.
If you wanna go and check out Canna’s Youtube channel please do, she is awesome!