St. Patrick’s Day traditions say you can find good luck from a four leaf clover or kissing the Blarney Stone. When it comes to our finances anyone can be lucky! It comes down to smart planning. Financial advisor Mike Williams talked to Milwaukee’s WTMJ-4 about 5 tips on how to create your own good fortune.

1. Create Your Own Pot of Gold – It’s alarming to find out how many of us actually don’t have an emergency fund. Whether we believe we are lucky or not, unexpected things will pop up. A car repair, busted furnace or broken arm can spell disaster without an emergency fund.

2. Spread the Wealth – Whether you have the luck of the Irish or not, diversify your income. This is a common mistake- putting all of your money in the same investment or the same type of investment can make you vulnerable. Ideally, your money is in investments that don’t have significant overlap.

3. Be on Time – Be on time with your payments and bills. One day late can mean a fee. It can also impact your credit score, which means higher interest rates and a tougher time getting loans down the road.

4. Pay it Off – If you can avoid it, don’t carry high balances on your credit cards. Interest charges can be overwhelming and make it extremely difficult to get your debts paid off.

5. Protect Yourself – I am talking about insurance. Whether you rent or own your home, you should have insurance to protect yourself in case of a fire, flood or natural disaster. If you own a car, you need car insurance. And if you have a family, you may want to consider life insurance so your loved ones are protected in case something happens to you.

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