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Looking Into Shares? Extensive Research Could Lead To Your Best Option…

If you find yourself in possession of additional funds, you may be looking for a way to put that money to good use. There are many valid ways in which you might choose to use them – be it for a new asset, to pay off a debt, or to save further.

If you’re looking for a way to grow that amount though,  you may have been looking into investing. One of the most common ways to do this is through the buying and selling of shares. This can be done through an online broking service or a full-service broker.

Purchasing shares (be it through stocks, securities or equities) grants you part-ownership of a company. The more shares you own, the greater your stake as a shareholder.

There are three main ways that shares can be bought:

  • Buy them via a prospectus or through a broker
  • Purchase them through an employee share scheme
  • Invest indirectly through a managed fund.

Having shares can grant you dividends and other benefits if they perform well.

Purchasing the right shares can help you grow your wealth. The best way to ensure that is to conduct your own research on economic and market changes that could affect the areas and sectors your shares reside in.

Some of the best sources of information for shares research include:

  • the Reserve Bank of Australia’s quarterly Statement on Monetary Policy — for commentary on the Australian economy
  • business and finance sections of reputable websites, magazines and newspapers — for new economic information
  • research departments of banks and stockbrokers — for forecasts about economic conditions

As with all investments, there is risk involved. Take your time before diving straight into things. Be clear about the financial goals that you want to achieve, and seek out financial advice from professionals if you require it.

If you’re someone who often finds it difficult to make large lump sum payments for goods or services, you may want to consider looking into “Buy Now Pay Later” services.

Buy now pay later essentially means that, rather than paying in a full lump sum payment for a product or services rendered, there may be an option to pay through instalments of a certain amount over a set period to make the sum of the full amount in total. This method should allow you to pay in full for the product or service without overly straining your finances – you pay back what you can, as agreed upon when you begin the buy now pay later service.

Some popular buy now pay later services include Afterpay, Zip Pay, Brightepay, and some credit card networks such as  Mastercard and Visa, can offer buy now pay later arrangements.

Though it can be a convenient, immediate solution, it may be challenging to juggle the necessary repayments with other financial commitments. It’s not always the most appropriate method for people, and you should bear in mind your situation and ability in paying back the amounts. 

Before you sign up, keep in mind: 

  • It becomes easier to overspend with buy now pay later services, so know your limits on what you can and can’t afford.
  • You will be charged fees and costs to use the service, which can add up to a princely sum in and of itself.
  • Keeping track of your payments can be tricky if you’ve signed up for multiple services.
  • It could affect your loan applications for a car or mortgage as lenders consider buy now pay later spending just as much as your credit score.
  • Late repayments can appear on your credit report, which affects your ability to borrow money in the future.
  • Layby can be a cheaper alternative to buy now pay later, with no account-keeping or late fees to consider

If you are someone who could make use of BNPL services, you may wish to:

  • Ensure that when using the BNPL service, you stick to a set limit on what you spend so that you can comfortably pay it back later. 
  • Aim only to have one BNPL account at a time to manage payments through, rather than confuse yourself with multiple payments across different providers.
  • Always budget for bills, loan payments and BNPL payments, and 
  • Rather than use your credit card for payments to your BNPL account, consider linking to your debit account instead.

If you would like assistance in planning your financial future, help in managing your budget or some friendly advice, see us for a chat about what we can do for you.

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What our Client Say

John Briggs

Jane Noller has been my accountant for the last 15 plus years. I can testify to Jane’s professionalism and expeditious manner in dealing with the day to day issues that surrounds our business accounting.

John Briggs

Registered Building Certifier

David and Alison Parker

I have been consulting J L Noller and Co. (more specifically Jane) for six years and during this time I have found her to be professional, efficient and easy to discuss all accounting and taxation matters with. Her office team are all polite and friendly also.

David and Alison Parker

Business Owner

Carl Gillmore

I have used Jane & the team for the last 6 years for all of my business & personal accounting needs. They have always been professional, easy to talk to & available when we have needed assistance.

Carl Gillmore

Carl Gillmore Landscape

John Briggs

Jane Noller has been my accountant for the last 15 plus years. I can testify to Jane’s professionalism and expeditious manner in dealing with the day to day issues that surrounds our business accounting.

John Briggs

Registered Building Certifier