Introduction:
I’ve been investing in the Indian stock market for several years now, and when I first started out, I had no idea where to find good recommendations on which stocks to buy and sell based on the information that was readily available to me.
I simply couldn’t trust many of the so-called experts out there who don’t have any financial credentials or relevant experience as it relates to the specific investments they were making predictions about. After all, how can someone who works in finance tell you that you should invest in some tech startup?
Some Examples of Good Personal Finance Blogs
If you’re looking to learn about investing and personal finance, it can be helpful to see what others are saying. Here are a few good websites that review financial blogs: The Dollar Stretcher is: Site dedicated to saving money and cutting costs, The Dollar Stretcher features articles on reducing debt and budgets, as well as how-tos on being frugal.
Saving Advice: A United Kingdom-based site with articles covering everything from buying property to saving energy bills. Student Loan Hero: This site has expert tips, tools, and resources for getting out of student debt early. There is even a podcast!
Industry Guides
As a starting point, you can check out a few of our relevant guides Indian Stock Market 101: How to Get Started, How to Pick Stocks Like Warren Buffett, and Best Online Brokers. But remember that you shouldn't take stock market recommendations from anyone without doing your own research. We recommend that you start by reading a good book on investing like The Intelligent Investor by Benjamin Graham.
You should also follow some investors who are successful in India and learn about their strategies. Check out Investopedia's list of top investors in India for inspiration. You might also want to read about some famous scams in India, as well as how to avoid them. A lot of new investors lose money because they don't know how to trade stocks properly—or worse yet, they fall prey to investment scams!
Podcasts on Finance
Podcasts are a great way to keep yourself up to date with industry trends and issues, especially if you're not able to read as much as you'd like. By listening to podcasts, you can get educated while still getting things done. This list of finance podcasts has everything from beginner-level shows that give a broad overview of different aspects of personal finance, to in-depth shows that delve into specific topics.
It's also worth pointing out that nearly all these shows are available on both iTunes and SoundCloud. So whichever platform you prefer is probably where you should start your search for great financial podcasts.
Some examples of bad personal finance blogs
The problem with these personal finance blogs is that they tell you what to do, but not why. It’s really important to know why your money management strategy works so that you can stick with it in good times and bad. For example, someone might recommend investing in index funds because they’re and cost-efficient; therefore, your portfolio will be safe and give you good returns over time.
However, an alternative philosophy could be to buy expensive investments that also promise great returns. You have to ask yourself if you have enough money to afford such luxuries when there are cheaper options available. Do you want more safety or more potential for growth? What is your tolerance level? What else should I consider before deciding on a specific investment plan? These are all questions that only come from knowing why something works instead of just doing it.
Why these are bad sources for investment advice
Most stockbrokers and analysts are paid by commission. This means that they have a financial incentive to sell investment products (stocks, bonds, etc.) and will recommend these products over others regardless of their performance. While these recommendations might be profitable in the short term, over time you'll likely see your money go down as commissions eat into your earnings.
It's especially important to make sure any sources you use are not biased toward recommending particular stocks if you're planning on day trading—these investments tend to fluctuate a lot in value from day to day. Your best bet is to turn to other experts who can give unbiased advice: financial advisers and trusted friends/family members who have built up substantial wealth through investing.
Invest in mutual funds through a Robo advisor instead
It may seem too good to be true, but you can actually invest in stocks and exchange-traded funds (ETFs) with a Robo advisor. Many providers let you set up an account through your computer or phone, make a deposit, choose your investment style and portfolio, and start trading immediately. Mutual funds are one of many investment options with a Robo advisor—but they have lower costs than human advisors because they’re run by software rather than a person.
It’s worth noting that online brokerages typically charge $5 to $10 per trade (though some are free), while many Robo advisors charge 0.25% of assets under management plus $25 per trade. So if you want access to mutual funds without paying hefty fees, consider using a Robo advisor. You could also consider investing in ETFs directly. They tend to be less expensive than mutual funds, which means more money goes toward growing your portfolio over time.
You might even get better returns from ETFs because they track indexes instead of trying to beat them like actively managed mutual funds do. If you want exposure to U.S.-based stocks or other securities without paying high fees, ETFs are worth considering as part of your long-term investment strategy—especially if you're looking for low-cost investments.
Conclusion
To provide investors with a clear framework to follow in order to navigate India’s overly-complicated stock market system, I’ve listed below some of my favorite sites and resources, both in English and Hindi. These sites offer personalized stock market recommendations that are simple enough for even novice investors to understand. It is important that any investors work with experts who can help them evaluate their portfolios regularly, so they can make adjustments as necessary and understand when it might be time to take profits from their positions.
The economic landscape of India has been rapidly changing over recent years, so it's never too early to start learning about investments if you're new. As you gain more experience and knowledge, remember that there are no hard-and-fast rules to investing; your goal should always be to keep an open mind and listen carefully to your instincts. Most importantly, remember that stocks aren't like other types of purchases—you can't just return them! So don't jump into things without doing your research first!