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In one word: budgeting.
If you are not doing it, you are potentially hemorrhaging money.
Inflation is the gradual increase in the cost of goods and services over time.
If your savings arent growing at the same rate, your money loses value yearly.
But even with FDIC coverage, it only goes so far to covering a certain amount of your funds.
When saving a lot of money, spreading your savings across multiple banks is essential, McLaughlin said.
However, there is such a thing as adding too much money to your 401(k).
Ensure youre not undermining your hard work by engaging in activities that could jeopardize your savings.
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