5) The power of regular investing
If you are able to get to a position where you have a surplus once you have paid all your bills, the next step is to look at developing a regular investing habit.
The amount you decide set aside will obviously be based on affordability, especially if you have borrowing to reduce too.
Steady, regular investments not only mount up over time, but can also provide you with some protection in the case of sudden market corrections. Over the longer term, investing monthly tends to average out any market highs and lows.
If you already own any shares opt to reinvest any dividends you receive instead of receiving the money. This is one of the most powerful tools available for boosting returns over time.