Relationships July Financial Checklist + Calendar Read the Article Open Share Drawer Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on Tumblr (Opens in new window)Click to share on Pinterest (Opens in new window)Click to share on LinkedIn (Opens in new window) Written by Mint.com Published Jul 1, 2020 - [Updated Jan 13, 2021] 3 min read Advertising Disclosure The views expressed on this blog are those of the bloggers, and not necessarily those of Intuit. Third-party blogger may have received compensation for their time and services. Click here to read full disclosure on third-party bloggers. This blog does not provide legal, financial, accounting or tax advice. The content on this blog is "as is" and carries no warranties. Intuit does not warrant or guarantee the accuracy, reliability, and completeness of the content on this blog. After 20 days, comments are closed on posts. Intuit may, but has no obligation to, monitor comments. Comments that include profanity or abusive language will not be posted. Click here to read full Terms of Service. Investing in stocks can be a great way to grow your money. However, only a little over half of Americans currently invest in the stock market. Learning how to buy and invest in stocks requires a bit of research and plenty of strategy. In this month’s financial checklist, we’re going to focus on tasks that will help you begin investing in stocks. July Financial Checklist: Investing Your Money Do your investing homework Decide how you want to invest Open a brokerage account Determine how much you want to spend Monitor your stock investments Do your homework Before jumping feet-first into the stock market, do your research. Before you can start investing, you need to understand the basics of how stocks and the stock market work. This includes: Basic terminology Personal factors you need to consider before investing in stocks When and how to sell your stocks Common stock investment mistakes and how to avoid them Decide how you’re going to invest Do you want to be in charge of your investment strategy, or pay for the advice of a professional? There are two main ways to go about investing in hte stock market. DIY Stock Investing: Select stocks and invest yourself. This is typically done through an online brokerage account. Hands-Off Stock Investing: Specify your investment goals, but take a backseat when it comes to stock selection. Typically, a robo-advisor will handle the investing process. Open a brokerage account. To begin investing, you’ll need to open an account through which to make your transactions. Online Brokerage: If you’re investing in stocks on your own, you’ll want to open an online brokerage account. Robo-Advisor Account: If you’d prefer a hands-off investing approach, you’ll need to open an investment account through a robo-advisor. 4. Determine how much you want to invest When setting your budget for investing in stocks, you need to calculate: How much you need to get started. Make sure to include: The cost of opening your brokerage account or robo-advisor The cost of the shares you’re interested in A single share may range from a couple of dollars to thousands of dollars How much you’ll regularly invest in stocks Decide how much of your income or savings you’d like to invest Consider what you’re able to invest based on your current budget Monitor your stock investments Once you’ve invested in stocks, check in on performance occasionally. Check your free portfolio tracker – most brokerage accounts will provide this in your online profile. Keep an eye on the businesses you hold stocks in. Check in on quarterly earnings calls and read their annual reports to learn what’s in store for the coming year. Key Takeaways Stay on track with our investment calendar and create an editable copy in three easy steps: Open our Calendar Template in Google Sheets Select “File”, then “Make a Copy” Save in your own Google Drive to make edits Give your finances an overhaul in 2020. Check out our previous posts, and look forward to upcoming financial checklists. Previous Post Are Refinancing Costs Tax-Deductible? Next Post August Financial Calendar + Checklist Written by Mint.com More from Mint.com Browse Related Articles Mint App News Intuit Credit Karma welcomes all Minters! Retirement 101 5 Things the SECURE 2.0 Act changes about retirement Home Buying 101 What Are Homeowners Association (HOA) Fees and What Do … Financial Planning What Are Tax Deductions and Credits? 20 Ways To Save on… Financial Planning What Is Income Tax and How Is It Calculated? Investing 101 The 15 Best Investments for 2023 Investing 101 How To Buy Stocks: A Beginner’s Guide Investing 101 What Is Real Estate Wholesaling? Life What Is A Brushing Scam? Financial Planning WTFinance: Annuities vs Life Insurance