DIY investing: Being your own financial planner

These days there are a lot of things you can learn how to do without needing to pay a professional to do it for you. 

From unblocking a drain, changing the oil in your car, even homeschooling your kids, there's a 'how to' video on YouTube just waiting for you to watch and learn.

But what about when it comes to your money?

Is it advisable to do-it-yourself when it comes to investing and planning your financial future, or are money matters one area where it's better to pay a professional for their expertise?

'I think with the advancements in tech and access to information has opened up investments for many more people, and that's a good thing.'

- Marius Fenwick, Director/Co-Owner - WealthUp 

Fenwick admits that, on the whole, the professionals have tended to focus on the 'big money' clients

'So a mass of people have been left behind in terms of getting advice and even access to platforms to invest on.'

- Marius Fenwick, Director/Co-Owner - WealthUp 

However, that has begun to change, says Fenwick, with the advent of smaller financial services companies, some of which allow you to invest as little as R10 per month.

'So that has opened up the door to the stock market, where in the past you needed large sums of money to invest.'

- Marius Fenwick, Director/Co-Owner - WealthUp 

A word of advice from Fenwick if you are choosing to go it alone in the markets, don't make decisions based on emotions.

'Even advised clients tend to make decisions based on emotions, they get driven by the market, what's the favorite of the moment...'

- Marius Fenwick, Director/Co-Owner - WealthUp 

'The biggest and most common mistake in investment is buying at a high price and then being disappointed when it sells at a low price'

- Marius Fenwick, Director/Co-Owner - WealthUp 

Fenwick says ultimately the most important thing for a DIY investor is research.