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7 basics of Personal Finance you should know|Rules of money



One of the fundamentals is to know what you are doing. Without this you are not investing but gambling. Let's take an example of the silver markets about 30 years ago. Two brothers Nelson Bunker Hunt and William Herbert Hunt decided to corner the silver market along with some of their business associates. How Do I Get Started In The Stock Market - Your Question Answered A frequently asked question is "how do I get started in the stock market?" as more and more people look to provide themselves with a better financial future. For any new investor there many different answers to the question "how do I get started". It's not just the self discipline of course there are many other skills you will learn. The analytical skills you need in selecting a suitable investment are the same ones you will be required to apply in the workplace. When you decide to begin investing it is necessary to examine your attitude to risk. Your plan should cover exactly what it is you are investing for. Ok you know you want to invest for the future but exactly when in the future? If you're in college and wanting the cash in a few years to buy a place to live that will be different from someone who is middle aged and going to start investing for retirement. These will take you through the basics of learning the terminology of the stock market and also on to how to select stocks using various indicators. Some will even teach you how to spot trends and these can be as important for timing your exit from a position as getting into it in the first place. Something that is very important to learn is how you feel about risk levels. Obviously you need to sit down with pen and paper and work out just how much that will add up to in interest. Will it be a worth while saving that you make each month on your existing repayments over how much you pay in the long term. Of course if you are consolidating bills from credit cards you will probably find that the lower interest rate will make a huge saving in both the monthly repayment and the overall cost of the loan. 

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