I finally did it

First Time Investing šŸ£
#1

Iā€™ve been wanting to start getting into investing my money at the start of the year. Itā€™s took me a long time to finally get onto the investing ladder but today I have officially made my move. I currently only have the GIA account at the moment. I clicked on opening an ISA but havenā€™t put any money into that yet or paid the monthly fee. Since Iā€™m new to all of this what do people recommend I do for a beginner? Any tips are welcome. Thank you!

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#2

Spend a day or 2 reading the forums to get a wide range of views is my suggestion :+1:

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#3

What @Big-g said! Some particular places you could look include the very top of this screen where there is a ā€˜Toolsā€™ menu (you might have to turn your phone sideways to see it) ā€“ youā€™ll see Freetradeā€™s guide to ā€˜How to start investing in stocksā€™. See also the discussion thread How We Should All Invest ā€“ But Probably Wonā€™t (Newbie Guide). But like @Big-g said, browse around for a bit to get a bit familiar with the issues and the jargon before jumping in at the deep end.

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#4

It depends on the amount of money you are putting in, if its a lot I would start with a few funds and monitor whilst you learn in the back-round. If its a small amount of money you could try a few company stocks, a small amount is no bad thing as everybody makes mistakes when they start and you may as well learn and lose small. But eventually an ISA is a no brainer, no tax worries at all, and its a pain to move everything from GIA to ISA.

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#5

Note that the only way to do this is to sell your stocks in your GIA, transfer the cash to ISA and then buy all your stocks again.

A bit fiddly so something to consider for the future.

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#6

check out these two youtube channels, which in my opinion are GREAT for beginners:

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#7

Thank you Iā€™ll be sure to watch them as soon as. Definitely getting my research in!

#8

PensionCraft is consistently great, these educational channels are also very good:

YouTube is a bit of a minefield, basically donā€™t look at anyone recommending particular stocks, ideally look for people with industry experience and especially qualification (CFA)

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