Investment tips for experts for newcomers. The financial market is filled with dramatic headlines, nonsensical abbreviations and mysterious trends that can make the process seem confusing. But with a little research and the right mindset, anyone with a budget can learn to grow their wealth through investing.

The first step in building wealth via investments is identifying your financial goals, which will help you determine how much risk to take on in order to reach those goals. Experts suggest creating a financial plan to guide your saving and investment decisions, including setting specific short-, medium- and long-term goals. These goals can then inform your choice of investments and guiding you to an appropriate mix of assets.

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Once you have set your goals, it’s important to stick to a regular savings schedule so that your money can grow over time and reach your goal. This discipline can also help you withstand periods of market volatility and avoid making rash, emotional investment decisions.

As a general rule, you should try to save at least six months worth of your regular expenses in an emergency fund to protect yourself from big unexpected costs. For the rest of your savings, experts recommend sticking to a low-cost, diversified investment portfolio that is aligned with your risk tolerance. By diversifying your portfolio, you can be less exposed to high-risk investments that may yield a higher return but are more volatile.