Hedge your bets
Definition 1 of 1
Pro Tip 1/3Risk Reduction
Emphasizes lessening potential losses in any situation, not just financial. 
In a volatile market, investors tend to hedge their bets by diversifying their portfolios.
Pro Tip 2/3Not Literal
The phrase is figurative; you're not actually placing bets. 
He hedged his bets by studying both science and arts subjects.
Pro Tip 3/3Cautionary Tone
It suggests caution and not committing fully to one option. 
Uncertain if the project will succeed, she hedged her bets by working part-time.