You should always ask for help and not be ashamed of your ignorance.
School of Economics is equal to economics, economics is equal to money and money is equal to investing.
This is what I thought when I started my studies at the School of Economics. If I once got into the School of Economics, you need to know all of my money, economy, and investment activities. It would be embarrassing if someone caught me but I didn’t know.
“It would be embarrassing if someone caught me that I didn’t know.”
The first year of study was behind and an orientation week for new students was underway. I lay in the sunshine in the university yard with my tutor buddies and ended up in the middle of an interesting conversation. My fellow students talked about investing and their recent stock trades like old factors, in a language and terms I didn’t even understand.
I left the conversation in the background because I was uncomfortable. I found myself experiencing a little shame and envy. Shame, like in a cheater syndrome. Had I somehow studied wrong when others knew, but I didn’t? However, we had taken the same courses. I was silent not to just reveal my “stupidity” and incompetence. It was a pity because the placement interested me a lot. That’s why I certainly experienced that envy.
“I was silent not to just reveal my ‘stupidity and incompetence.”
I rediscovered myself from the same situation a few times. It was still uncomfortable. I could have studied the subject at home, but the idea seemed difficult. The threshold to even start studying was high when I didn’t know anything where to start. I knew that shares are bought on the stock exchange, but where can you buy them?
Eventually, I got tired of the frustration, swallowed my feelings of inferiority, and decided to call one of these tutor buddies.
“Could you help me one day?”
Hi. Hi, I would like to buy shares, but I have no idea how to do it. Could you help me one day?
In response, I got helpful Yeah, of course! He said it’s simple, and that if I already have in mind what I want to buy, then we can make a facetime call right away and set up a book-entry account for me. I was excited and agreed. He then guided me to get started on Nordnet, helped me register, told me about the site’s activities, and advised me step-by-step on buying shares. I bought a Nokia for a thousand euros, which wasn’t, well, it wasn’t necessarily the most profitable pick. But in hindsight, it was an important purchase for me, because at least I started.
The more I got to know different funds and stocks, the more often I dared to open my mouth in investment discussions. I am constantly learning more. I also understood that without extensive knowledge of the stock market and active monitoring, one can engage in regular investing. To that end, there are simple and easy products on the market, such as low-cost index funds. My friend also taught me to make a monthly savings deal whereby the amount I want is invested in the funds on my monthly basis. How easy!
“Be brave and dare to bring out your ignorance!”
To get started with investing, you can sit at home in front of google and worry about how hard it feels. However, I think a much better solution is always to dare to ask. Be brave mimics and dare to bring out your ignorance! Above all, it shows curiosity and a desire to learn, and by no means stupidity. I think it’s one of our greatest resources to identify what we don’t know. That’s when you can learn something new, and nothing stops your growth and development.
“By the way, I don’t remember encountering any situation where someone would have considered me stupid because I asked.”
By the way, I don’t remember encountering any situation where someone would have considered me stupid because I asked. Instead, if I hadn’t dared – I wouldn’t be anywhere near my long investment path. And time is money.
If you don’t mind anyone asking, there are thankful there are great communities today to help you get started!