One Thing to Never Do With Your Savings and 4 Things You Should Always Do, According to Financial Experts


Wherever you are in your financial planning journey, it’s wise to circle back regularly and make sure you’re doing the right things (and avoiding making mistakes). Thinking you’ve got a plan you can set and forget is dangerous, and you might find down the road that you’ve missed out on opportunities to maximize your financial situation. And what’s worse, once you get to that point, you might find it’s too late to do much about it.

So whether you’ve set up a savings account and have a few months’ expenses tucked away in case of emergency or you’ve been saving for years with contributions to multiple accounts and portfolios, here are a few tips I shared with Kara Nesvig of Apartment Therapy that everyone’s financial health can benefit from.

  • Pay yourself first: Once your primary fixed expenses are taken care of, make your next “bill payment” be to your savings — or better yet, set up an autodraft to save a set amount every time you get your paycheck.
  • Employer match: Take advantage of any matching contribution your employer may offer toward your 401K plan — it’s free money to you.
  • Be patient: The market always has ups and downs, but historically it performs well over the long term. Don’t overreact to downturns — your long-term plan is the same, regardless of market seasonality.
  • Get help: There are so many intricacies in financial planning. I can’t recommend strongly enough working with a financial professional to make sure your plan is the best it can be. Your investment in professional assistance will be well worth it.

To read all of my recommendations, as well as tips from other financial experts, I recommend reading the whole article on

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