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Following are 10 evergreen tips for investing in share markets or making any other investments, still i would recommend that common sense ans experience is of atmost importance too.
1. Pay off your debts - no point risking more money before you’ve got yourself into the black.
2. Do your research - think about what you are investing in and think why you’re investing in it. There is so much more information at your fingertips these days, but it doesn’t necessarily make the job of picking shares easier.
3. Time is money - think about compounding.
4. Be patient - there are very few chances to make a quick buck unless you get very lucky.
Also read -
-BSE aims at internationalization of listing business
-Effect of Recession on Indian Economy
-Economies hit by recession
-World's Strongest economies list
5. Be tax efficient - consider investing within ISAs so that you don’t pay more tax than necessary.
6. Keep costs low - costs eat into your investment, and mean they have to perform that much better in order to make you a profit.
7. Do not try to time the market - it’s virtually impossible; invest when it’s right for you.
8. Don’t believe the hype - if you’re investing in something after many others have done so, you’ve probably missed the boat, and therefore missed the best performance.
9. Regular contributions are your friend -use cost averaging to your advantage to help smooth the ups and downs of the markets.
10. Learn from your past mistakes.
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