Not all savings accounts are created equal. Some offer you unlimited access to your money in exchange for a monthly fee, while others charge you nothing provided you leave your money where you put it. The type of account you choose really depends on you.
The old expression “Nothing ventured, nothing gained” is especially true when it comes to investing, but some types of investments are definitely safer than others. Before considering investing in stocks, bonds or commodities, take the time to do a personal risk assessment.
Nobody wants to lose a shirt; a good investment is a wise investment.
Any financial planner – or credit counselor – will tell you that the first step to creating a budget that you’ll stick to is tracking your ongoing expenses for two or three months.
Before you venture into investing, you need to determine two things: your personal risk tolerance and your needs and goals. In order to do this properly, you need to understand the different types of investments and the amount of risk involved with each.