1. Plan your financial future – Spend some time setting up goals, with a realistic plan to achieve them.
2. Don’t expect to receive anything for free – Be careful with advertisements, sales persons, and other sources of financial offerings promising freebees.

3. High returns equal high risks – Understand that nobody will pay you high interest rates on a safe investment. On most cases, the higher is the rate offered the higher is the risk of loosing part or all invested money.  The best way to be protected against risk is to diversify assets.

4. Know the net amount of your wages – Before engaging in substantial expenses, calculate the amount you will have available on your earnings. When budgeting, your net earnings, after all deductions, are more important than the gross amount.

5. Compare interest rates – Look for interest rates of multiple financial services to get the best value for your money.

6. Pay yourself first – Before paying bills and other financial responsibilities, put aside an amount you can save every month on an account assigned for long term goals and emergencies.

7. The amount duplicates by the “72 Rule” – To determine how many years will take to double your money, divide 72 by the interest rate. For example, an account that makes 6% will need 12 years to double (72 divided by 6 equals 12).

8. Your past credit is your future credit – Be aware that credit reports record payments made by borrowers. Negative information in your credit report may affect your ability to take a loan in the future.

9. Start saving in your youth – Your total savings will be determined by the interest you make on them, as well as by the time you save. The sooner you start saving, the greater will be the amount of funds you will accumulate over time.

10. Remain Insured – Buy an insurance policy to avoid being crushed after a financial loss, like sickness or an accident. An insurance plan should be part of your personal financial plan. 

11. Budget your money – Make an annual budget to identify your earnings, expenses and savings. This will help you live off your earnings.

12. Don’t borrow what you cannot pay back – Be a responsible borrower, paying on time demonstrates you are worthy of future credit. Before taking up a loan, compare your total expenses with the earnings you will have available to make those payments.