50 Money Tips for Financial Wisdom

From the best ways to budget to time-tested tips for boosting your earning potential, these nuggets of wisdom will put you on solid financial footing

by Alden Wicker • LearnVest.com
Photograph: Hirurg/Shutterstock.com

48. You can have too much savings. It’s rare, but possible. If you have more than six months’ savings in your emergency account (nine months if you’re self-employed), and you have enough socked away for your short-term financial goals, then start thinking about investing. Here’s why.

How to … Approach Investing

49. Pay attention to fees. The fees you pay in your funds, also called expense ratios, can eat into your returns. Even something as seemingly low as a 1% fee will cost you in the long run. Our general recommendation is to stick with low-cost index funds.

50. Rebalance your portfolio once a year. We’re not advocates of playing the market, but you need to take a look at your brokerage account every once in a while to make sure that your investment allocations still match your greater investing goals. Here’s how to rebalance.

This story was originally published on LearnVest.

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