With summer officially starting next month, New Year’s resolutions may seem like a distant memory. But when people decide to start investing or adopt a healthier lifestyle in the bleak middle of winter, they usually do it for a reason. Turning a resolution into action can be downright complex!

Why? Many people want to start investing, but for various reasons they put it off until later. Here I want to discuss three.

Reason one: lack of money

A common justification for procrastination is lack of financial resources. People think they can’t start investing until they have enough money.

In reality, however, you don’t need a lot of cash to get started. Indeed, starting petite can mean starting earlier and having the added bonus that beginner mistakes can be less costly than waiting and investing larger sums.

Even with, say, £500 to £1,000, it is possible to build a well-constructed portfolio, well diversified across a range of stocks.

However, when making petite transactions, attention should be paid to the potentially disproportionate impact of minimum fees. When choosing a stocks and shares ISA, it pays to compare your options.

Reason two: lack of knowledge and understanding

Another reason why people don’t start investing is because they feel they don’t understand how the stock market works. How are shared things valued? What moves their prices? What happens if the company is taken over?

This seems to me to be a very good reason not to invest. Fortunately, however, this can be easily solved. There are plenty of resources available to support demystify the stock market.

Once someone starts investing, they can also learn from the best possible teacher – experience.

Reason three: not knowing what stocks to buy

Another explanation why people don’t start investing even if they understand how the market works is that they don’t know or can’t decide which stocks to buy.

This is always a personal decision – different investors have their own goals and risk tolerance. However, there are some useful common principles that I think I can illustrate with my own ongoing investing Card Factory (LSE: CARD).

I like to stick with companies that I feel I understand. Retail is an area I know well and in fact I occasionally drop into my local Card Factory store. The business seems like one I can identify with.

Another factor is whether the company has a competitive advantage. In this case, Card Factory may be a less obvious choice than a company selling a unique set.

Despite this, Card Factory sells many unique products under its own name. It has its own production facilities, and I see a vast retail park as a competitive advantage.

I also take into account the risk. In Card Factory’s case, these include falling footfall on the high street and rampant stamp price inflation, which is driving down demand for physical cards. The company’s purchase of an online rival Moon Pig may support in this matter.

I also like Card Factory’s finances. Last year, revenues increased by 7% and the company achieved solid profitability (although lower than the year before).

The high dividend yield of 7.3% provides me with passive income.

Should you invest £5,000 in Card Factory Plc now?

If investing expert Mark Rogers and his team have stock advice, it can pay to listen. After all, Twelfth Magpie’s flagship Share Advisor newsletter, which it has run for almost a decade, provides thousands of paying members with the best share recommendations from across the UK and US markets.

Mark believes there are 6 standout stocks that investors should consider buying right now. Want to check if Card Factory Plc is on the list?

Christopher Ruane owns shares in Card Factory.