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Tip #14 - How to minimise the cost of share market investing

by Andrew Bird, Executive Director, Sharesight

Every week we post a tip that we hope will help you become a successful share market investor.

Tip #14 — How to minimise the cost of share market investing

Review your share market costs because they could be eating up a substantial portion of your portfolio income. Three main areas of controllable costs are: seeking advice on which shares to buy and sell, the cost (brokerage) of actually doing the buying and selling, and the cost of portfolio administration.

To reduce these costs, an increasing number of DIY investors are turning to online services. They use online advisory services for investment advice, trade online to reduce brokerage costs and use a smart technology platform to automate much of the administration and generate all the data needed for taxation and accounting purposes.

This information is not a recommendation nor a statement of opinion. You should consult an independent financial adviser before making any decisions with respect to your shares in relation to the information that is presented in this article.