Thursday, October 20, 2011

My fledgeling foray into share investing

Have I mentioned that I work in a bank in the real world? I get to wake up each day and go to work in a job where I count money, add it up, transfer it, spend it, balance it, calculate it, and hug it tightly to my chest (well not really the last one, it's a direct bank). What more could a money obsessed person like me ask for?
So while I'm on maternity leave, twiddling my thumbs each day waiting for Lolly to wake up and play with me, or Miss M to come home and dish on all the school gossip, I have been trolling the net looking for things to do. And I am so bored, I took to checking the share price of my employee shares. Daily. Hourly even. But all this checking on my employee shares exposed me to other shares, and I started to wonder just how difficult it would be to invest in general.
Lots of reading and Internet searching later, and I discovered Bell Direct. Turns out, I don't need lots of money to invest. I don't even need to go find me a financial planner or a stockbroker. I just need $515 and a Bell Direct account. Huh. Go figure. I always kind of thought share trading was for smartly dressed men at some Australian version of Wall St.
So I opened me an account and transferred the minimum. Bell Direct charge $15 each time I do some kind of trade, and $500 is the minimum that you can transact on the ASX at a time, so I upped it a little to $530 to be on the safe side.
Without going into the nitty gritty of which share I picked, I will say it turned out well. I've directed the original funds + gains to a different share now so we'll see how I go. I know I have to look at this as a gamble - its always possible I'll lose the lot.
For ease of use, Bell Direct worked well for me if this is something you have been interested in trying, but like me were a little intimidated by the idea of approaching a professional with my paltry amounts of money and assets. The website has a ton a user guides, forums, and is pretty follow your nose. I'm finding share trading absolutely fascinating now and watch certain shares with an eagle eye to see how they perform each day.
Have you tried out share trading? What was your experiance? Or is it something you were interested in but didn't think you had the funds for?
**Just because I work in a bank does not make me any kind of trained professional qualified to advise you on your personal situation. The above is just a reflection of my experiences with a company providing a service. I really suggest you do your own research and contact trained advisers before making any decisions.**

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