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Tech & Science 3 things to do before you invest in ASX shares

08:20  27 november  2019
08:20  27 november  2019 Source:   fool.com

Tech Shares Power U.S. Stocks Higher

  Tech Shares Power U.S. Stocks Higher U.S. stocks rose to records at the start of a holiday-shortened week, buoyed by a rally in shares of technology companies. Stocks around the world got a boost after Chinese officials called for speeding up the introduction of penalties and punitive action for infringement of patents and copyrights in a document released Sunday.The U.S. has indicated it wants clearer assurances that China will follow through on the commitments it has made on the issue, and on others such as agricultural purchases, before negotiators will travel to Beijing for a new round of talks.

Here are 3 things to do before you invest in ASX shares - its the little things that can make a big difference when it comes to moneyThe post 3 things to do before you invest in ASX shares appeared first on Motley Fool Australia.

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Number 1 – Pay off any high-interest debt

Debt works in the opposite way to investing – compounding against you and draining your wealth at an accelerating rate.

That’s why it's essential to make sure you get rid of any personal debts you have before you even think about shares.

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Before you make any investing decision, sit down and take an honest look at your entire financial situation -- especially if you ’ve never made a financial plan Unlike deposits at FDIC-insured banks and NCUA-insured credit unions, the money you invest in securities typically is not federally insured.

The first thing you should do is determine how much money you have to invest . Take a look through a wide-angle lens to view your entire financial life. This is especially the case if you haven't had much experience with investing prior to now. If you are like many beginning investors , you may not know

I’m not talking about your home mortgage or HECS student loans here – it’s credit card debt, car payments and personal loans that are the real killers.

Paying off an 18% credit card debt gives you a guaranteed return of 18% – probably more than you could get from the share market anyway.

Number 2 – Make sure you have enough cash first

A surprising number of investors make this mistake. Investing is exciting, but some investors get a little too excited and deploy all cash available into the share market.

This is all fine until it’s not – emergencies happen, and you don’t want to be in a situation where you need to sell shares because you’ve crashed your car or need to go into hospital.

I always like to have at least a few months of living expenses saved up in cash at any given time – this is money that I don’t invest but keep for a rainy day.

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Xero Limited ( ASX : XRO) shares are one of three ASX stocks that I would invest ,000 into in The most important financial concept you need to grasp before investing for your retirement. According to the latest ASX 30-Day Interbank Cash Rate Futures contract, the market is now pricing

Yet, ,000 invested in the Aussie share market would today be worth 5,000, according to Vanguard. But the last thing you want to do is invest in the sharemarket, then be forced to sell your shares to Finally, you should buy ASX shares if you are worried about funding your retirement, you

Any surplus cash on top of this is (of course) good to go into shares.

Number 3 – Have a budget

I know this is a boring, over-preached tip, but a budget can really help you see where your money is going, and where you can find additional cash that might serve you better invested than on buying something.

It also helps you to see how sustainable your lifestyle is. For example, if you open your budget and find you’re spending 60% of your family’s income on mortgage payments, it might be a valuable wakeup call.

Just planning out your weekly/monthly expenses and incomes can really shed clarity on where you might end up in 10 years, so just knock up a budget – you’ll thank yourself later!


ASX shares rising on booming Australian house prices .
Australian house prices are booming again according to CoreLogic, which ASX shares are doing well?Every month CoreLogic releases its national Home Value Index for the overall country, as well as the capital and regional areas.

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