3 Investing mistakes I made so far

Last year December after breaking up with my girlfriend [let’s save the whole story behind that for another article it will be too long], I just didn’t know what I was gonna do with the extra money I had every month. But I was already making mistakes that didn’t ‘qualify’ me for investing.

Mistake #1:Paycheck to Paycheck lifestyle

To be honest I had been living paycheck to paycheck despite always having money I didn’t need the whole year, because I didn’t know how to manage money properly.

I can’t say I blame my ex for my mismanagement of money but she didn’t help to make it better either. But December I stopped living paycheck to paycheck because I budgeted and tracked everything then I realised how much money I had and then started to make better money decisions then stopped living paycheck to paycheck in December 2023.

Discovering the power of investing and making mistakes in investing

It was shortly after I stopped living paycheck to paycheck that I invested in FNBB a week later the company gained 1 thebe, although that’s so small I was very excited, it kept gaining almost every week and then I bought for Choppies, but Choppies was stagnant, it didn’t do much.

Mistake #2: Selling my investments when it was building momentum

When my FNBB shares were compounding on themselves I had an idea which I was going to execute with my friend which was flipping Iphones, I wanted to flip them and sell to create more income streams to invest more, sounds nice right? Well the thing is when I did do that, my client cut my pay in half and skipped a month without paying me so I couldn’t do anything but live off my emergency saving, but for 2 months I had other emergencies that depleted those savings very quickly.

That caused me to use the investment money to cover my expenses. Honestly I could have just let these investments alone and not try to start a business which I didn’t even start, and had no experience in. But however it hurt that my emergency savings dried quickly.

Mistake #3 Not enough savings

2024 started off tricky for me, it seems like the first 3 months there was an emergency, but those emergencies could have been possibly mitigated if I started to build savings 12 months earlier with the free money I always had. But I started late last year, so it got quickly dried up. This led me to use the money that should have been left compounding to get finished on expenses, a bomer.

So if you’re gonna start investing the first thing; you need to make sure you have emergency savings that will help you avoid pulling from your investments.

Remember don’t invest if your personal financial life is in shambles. Stop living paycheck to paycheck, sure you build your emergency savings and don’t sell or cash your investments when they’re gaining momentum. good night stay safe.