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Buying your first stock can feel like a very grown-up financial milestone. You’ve picked a company, transferred your money, and suddenly, you’re a shareholder.

Then reality starts doing its thing.

The stock’s value drops, or the dividend you were expecting isn’t as substantial as you hoped. You realise the ₦20 stock you bought isn’t necessarily cheaper than the ₦100 one. And suddenly, you’re checking your portfolio every morning like the market is personally waiting to ruin your day.

Some investing lessons only make sense after your money is actually on the line. But if you’re buying your first stock, these are 10 things you’ll be glad someone told you beforehand.

1. Dividends Aren’t Guaranteed – Olumide*, M, 28

I genuinely thought buying 100 shares in a company meant I would automatically get dividends every year. I bought my first stock partly because I wanted that extra income. It was only later that I realised a company can decide not to pay dividends. Now, if dividends are part of why I’m considering a stock, I actually check its dividend history instead of assuming I’ll get paid.

2. Your Stock Can Stay Down For A While – Chidinma*, F, 25

Nobody warned me that I could buy a stock and watch it stay below my buying price for months. I thought that, if I picked a good company, the value would eventually rise in a reasonable amount of time. The first time mine dropped and stayed there, I was checking my portfolio as if I was waiting for exam results. I eventually learned that the market doesn’t owe me a quick recovery.

3. A ₦10 Stock Isn’t Automatically Cheaper Than A ₦100 Stock – Atinuke*, F, 32

I used to think a ₦10 stock was automatically cheaper than a ₦100 stock. So if I had ₦50,000, I’d rather buy 5,000 units of the ₦10 stock than 500 units of the ₦100 one. I didn’t realise that the number of shares I could buy didn’t indicate whether a company was actually cheap or expensive. That was one of the first things I had to unlearn.

4. Don’t Invest Money You Might Need Soon – Sam*, M, 25

I had ₦5million invested and then needed cash unexpectedly. I had to sell shares when the price wasn’t where I wanted it to be because I needed the money. That’s when I understood why people say you shouldn’t invest money you’ll need in the short term. If I had known that earlier, I would have kept my emergency money separate.

5. You Can Lose Money Even When The Company Hasn’t Collapsed – Abu*, M, 27

I thought the only way I’d lose money was if the company completely went under. So when my stock dropped by almost 20%, I was confused. The company was still operating normally, but my investment was worth less. That was my first real introduction to volatility. Nobody had explained to me that the price could move that much without the company disappearing.

6. Don’t Buy A Stock Just Because Everyone Is Talking About It – Habeebah*, F, 26

My first stock was basically a group project. Everybody around me was buying it, Twitter was talking about it, and I didn’t want to be the only person watching from the sidelines. I couldn’t even properly explain why I bought it beyond ‘people said it was good’. When the price started moving differently from what I expected, I didn’t know what to do. Now I won’t put money into something I can’t explain to myself.

7. There’s More To The Cost Than The Price Of The Stock – Lami*, F, 28

I was so focused on whether the stock was ₦50 or ₦100 that I didn’t really think about the costs of actually buying and selling it. Then I saw deductions and realised there were other charges involved. They weren’t necessarily huge, but when you’re starting with a small amount, every deduction matters. I wish I’d understood the full cost before making my first purchase.

8. You Don’t Have To Check Your Portfolio Every Day – Steven*, M, 33

I was obsessed. I could check my portfolio three times before lunch and still check again at night. If it went up, I felt like Warren Buffett. If it went down, I was questioning every decision I’d ever made. Eventually, I realised nothing was changing because I was refreshing the app. Once I became clearer about why I bought the stock and how long I intended to leave the money there, I stopped treating every red number like an emergency.

9. Know Why You’re Buying Before You Buy – Yetunde*, F, 38

My first investment was just, “I have money, let me invest it.” I didn’t have a goal, a timeline or even a clear reason for choosing that particular stock. I just wanted to be able to say I owned shares. Looking back, that made it difficult to know what to do when the stock moved. Now, before I buy anything, I ask myself what I’m actually expecting from the investment and how long I’m willing to leave the money there.

10. Past Performance Doesn’t Mean It’ll Happen Again – Oluwatomi*, M, 44

I bought my first stock because I saw how much it had grown previously and assumed I was getting in before the next big jump. Of course, the market did not care about my plans. It didn’t perform the way I expected. That’s when I learnt that a stock having a good run doesn’t mean it will repeat that performance after you buy it.