Cenotaph in Ottawa
Good ReadsHow to track your money

How to track your money

How to track your money

Everyone wants to be an investor once they find out how their money can be managed in the stock market. Being a shareholder means that you have a lot to keep an eye on. Something that should be important to you is becoming more informed as a shareholder. You don't want to be one of those investors that leave their stocks and holdings without checking them regularly enough - you want to know what is happening with your money more often than that so you can make better, more informed decisions.

From using a Google Finance API to paying more attention to your stocks, you have to do more to track your money and know whether to move it or not. So, with this in mind, here are some of the best ways that you can stay on top of your investments and get to know your stocks at last.

  1. Make sure that you have a portfolio tracker. There are many sites out there that allow you to customize any trackers and list your ETF, fund, stock holdings and more. Google Finance API, for example, has tools that allow you to put in the number of stocks you bought and at what price. This will help you to stay informed, as they all link to news sites and stock update websites, too.
  2. Have your auto-alerts on. Many different portfolio trackers offer automatic alerts, allowing you to track your money and have a message if your portfolio drops below a certain threshold. These auto alerts can pop up on your phone wherever you are, and you can even set the date you want to be updated on any changes.
  3. Get to know the market. As a shareholder, you want to know that you are staying abreast of the market trends. If you can get a rundown on market news, you’ll know what affects your portfolio holdings. You want to make sure that you are seeing the bigger picture and make the right changes to your portfolio according to those trends.
  4. Don't stop checking in. When you invest in your stocks, you know that they’re going to change each quarter. If you ensure that you are looking at the figures whenever the quarterly earning call comes through, you will be able to hear about the financial results and earnings releases and more. This is important information and it’s always better to be on board with this so you’re not missing out of the conversation.
  5. Keep up with the stock annual reports. Every year, the annual stock report is going to ensure that you are able to keep up with what’s in store for your money in the coming year. There are many places in which you will be able to see your stocks are working for you, and it’s better to make sure that you are reading your reports.

Tracking your money is a must if you’ve invested somewhere, no matter what it is you can ensure that your money is working for you in the right way.

Photo: energepic.com, Pexels

Comments (0)

*Please take note that upon submitting your comment the team at OLM will need to verify it before it shows up below.