Taking the first step into investing is not easy. After all, it is probably one of the biggest (and potentially the most rewarding) financial journeys that we will embark on in our lives.
It’s normal to be nervous. I was too.
Here’s a simple checklist, to give you some assurance that you are ready, or perhaps signal to you that you need more preparation before you get your feet wet.
Check 1: Do You Have Your Emergency Fund Settled?
If you’ve read the Money Management Framework, you’ll know that an emergency fund is one of the first key financial decisions one should make.
An emergency fund is a stash of money that helps you through financial difficulties. This can include retrenchment, medical procedures, hospitalisation, property damage etc. The amount will vary from person to person, but generally, it is advocated to have 3-6 months of expenses saved up as your emergency fund.
