Saw this in a video and it made some sense. Just want to share and hear your point of view. Rule #1 Strive to save 10 -20% of your income. Rule #2 Pay your credit card balance in full every month. Rule #3 Max out your 401 (k) and other tax - advantaged savings account. Rule #4 Never buy or sell individual stocks Rule #5 Buy inexpensive, well - diversified indexed mutual funds and exchange - traded funds. Rule #6 Make your financial professional commit to a fiduciary standard Rule #7 Buy a home when you are financially ready or stable. Rule #8 Make sure you are protected (Insurance). Rule #9 Do what you can to support the social safety net. (Controversial) Rule #10 Always look at these rules before making financial decisions. *Copied from an online financial advisor.