What’s The Deal? 3 Valuable Tips to Keep Your Finances Sane

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By: Jimmy Rhoades Posted: 9:17 PM, Aug 24, 2016

When "How to move to Canada?" is a trending Google search, you know you're living in crazy times. But even if you're going nuts these days, you should keep your money sane. Jimmy Rhoades and Ric Edelman, author of "Rescue Your Money," have three valuable tips.

1.  Save

Saving means spending less than you earn, but spending's hard to track because we do it in a million little bits. Consider free apps such as Level Money or Mint to help you get a handle on your outflow.

2.  Diversify

Look at mutual funds. They're very low cost, they're very easy to obtain, and they take away the burden of having to pick what the investments are. You want to maintain a long-term focus. Don't let daily headlines cause you to change your strategy, because whatever you're worried about today, you're going to totally forget about over two weeks from now.

3.  Rebalance

When you have a diversified array of investments they're going to fluctuate in value from time to time. Rebalancing brings it back into alignment, so that you maintain the diversification you're looking for.

With these tips, you can keep your financial plan sane in these crazy days.

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