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How To INVEST $1,000 in Australian Stocks For BEGINNERS 2023

How To INVEST $1,000 in Australian Stocks For BEGINNERS 2023 [SelfWealth Tutorial & ReviewHow to Invest in Australian Stocks with $1000

If you’re a beginner looking to start your investment journey, you’ve come to the right place. In this video, I will guide you through the process of investing in Australian stocks starting with just $1000 using the SelfWealth platform.

  • Pay off any bad debt: Credit card debt, car loans, and personal loans are examples of bad debt. It’s important to eliminate these debts before investing.
  • Build an emergency fund: Set aside enough money to cover your expenses for at least three to six months in case of unexpected financial difficulties.

Signing Up for SelfWealth

SelfWealth is an online brokerage platform that offers security and low brokerage fees. Follow these steps to create your SelfWealth account:

  1. Use the referral link provided in the video to sign up for SelfWealth and receive five free trades.
  2. Fill in your email and password, and verify your account through the email sent by SelfWealth.
  3. Provide your driver’s license, tax file number, and bank account details.
  4. Select “Individual” as your application type unless you are investing with a partner.
  5. Continue providing the necessary details until you reach the final page and submit your application.
  6. Wait for two business days for your application to be approved.
  7. Once approved, you will be assigned a Holder Identification Number (HIN) for added security.

Buying Your First Stock

Now that your SelfWealth account is approved, you’re ready to buy your first stock. Keep the following points in mind:

  • The ASX is open from 10 am to 4 pm Eastern Standard Time, Monday to Friday.
  • Fund your account before making any investments. Transfer funds may take at least one business day.