Understanding Your Financial Situation

Before you even think about investing, you need to know where you stand financially. This means taking a hard look at your income, expenses, and debt. Create a budget to track your spending and identify areas where you can cut back. Knowing your net income (income minus expenses) is crucial, as this is the money you can allocate towards saving and investing. Pay close attention to high-interest debt like credit cards, as those should be a priority to pay down before aggressively investing.

Setting Realistic Financial Goals

What are you investing for? Retirement? A down payment