Rule 1: Disaster-proof your life. i.e This is simply because, you may be hit by a bus tomorrow, or discover a mole that turns out to be cancer. Your personal financial situation could be completely upended in a flash. The risks are even greater when you are younger, because you haven’t had time to build up assets you can liquidate.
Rule 2: Spend less than you earn
Rule 3: Aggressively pay down high interest debt
Rule 4: Read the fine print. Most people are even guilty of not even reading the large print!
Rule 5: Delay consumption such as buying latest smart phone every 6 months, high definition TV every year etc.