In these turbulent times, many of us are looking for ways to protect our finances. We want to ensure that we're taking all necessary precautions to prevent financial disaster, as well as to give our families and ourselves a sense of security. If your primary concern is storing your finances in the safest places possible, here are some of your best bets.

Get TIPS

This acronym stands for Treasury Inflation-Protected Securities. These bonds are backed by the government and tied to inflation, so they're by far your safest option. So, what this means for you is that once you invest your cash in a TIPS account, your money will increase at the same percentage rate as inflation. Similarly, it's going to decrease in case of deflation. If your concerns are particularly about the rising cost of living and the price increase of daily items, this option is for you, as your investments will keep their worth no matter how dramatically inflation increases in the future.

Invest in a Varied Stock Portfolio

Once you've got some of your cash in a TIPS account, your second best option is developing a balanced investment portfolio. You don't need to purchase individual stocks — in fact, we advise against doing so as this approach is highly-risky and research-intensive. Instead, opt for stock-index funds. They  spread your investments between hundreds of stocks, which keeps your costs low and your investment risk even lower. However, do keep in mind that there's always a risk factor involved when it comes to investing your money. Although you're highly likely to come out on top over the long term, there's a chance you might suffer short-term losses. So, keep this in mind and don't invest money you might soon urgently need.