Today, investing in the stock market is never been simple. For most entrepreneurs, this is a great venture to grow money in a passive way.
Here are the steps that you can do to start:
Step No. 0 Read at least 2 stock market Books or attend finance seminars
You cannot jump into investing without having the knowledge on what stock market is all about. Being equipped with the basic information will prepare you on what you can expect when you start investing. It will also guard you from false investment schemes and scams.
Preparing your mind and increasing your financial IQ is the first step that you should take before investing.
Step No. 1 Choose your stock broker
You need a stock broker to invest in Philippine stocks. You can choose online stock broker or work with a traditional broker. There are several stock brokers which you can see in PSE listings.
You just need a minimum of 5,000Php to open an account and start to grow your money in stocks.
Step No. 2 Fund your account
If you choose an online broker, funding your account is as easy as sending money in the bank. Major banks like Bank of the Philippine Island ( BPI), Banco De Oro ( BDO), Metrobank, and other participating banks can process your funding.
If you choose to work with a traditional broker, you can pay on the broker’s office.
Step No. 3 Buy your first stocks
This is the part where you need a little help due to some terminologies that you may not understand. But if you do read stock market books or attended stock market investing seminars, this step will be easy.
If you feel confused, online brokers also do have free seminars and tutorials to guide you step-by-step.
Step No. 4 Monitor Your Investment
Invest regularly and monitor your money. You can also choose your investment strategy as you grow to master different investing types.
Growing your money is a great financial leap. You can start investing today.