Death is inevitable in the game but there are ways to minimize the losses. For EXP, always attempt to fill the EXP bar by farming enemies near a Sculptor’s Idol before facing a boss. Your EXP gauge cannot go below zero so as long as you filled it up and reached the next level, your accumulated skill points won’t get deducted.
As for money, there are items called Coin Purses. They come in three sizes which contain 100, 500, and 1000 sen. The contents of these purses are not lost upon death. If you want to get their content, you just need to use them from your inventory. It’s really recommended to save them and use them only when you’re planning to buy something.
You can purchase coin purses from merchants at a higher price but don’t mind the 10% markup; think of it as securing your funds. Another good way to spend money if you don’t have access to coin purses yet is to buy Spirit Emblems, recovery items, etc. Excess items are automatically moved to your storage anyway. By doing these, the EXP and money loss upon consecutive, regular, deaths won’t be that too crippling to your progress and funds.