Only buy what you can afford
"Live like a student
Avoid overspending and spending on things you can live without. You don't need to buy all this stuff, particularly when you cannot afford it. The more money you can put in the bank, the better position you're going to be in if something goes wrong.
Negotiation is the key
"Negotiate the price down for things that you buy"
Using cash can be a powerful negotiation tool. Negotiating with cash is a far better way to get a return on your investment.
Be a 'smart shopper', buy in bulk
"It's easier to be a 'smart shopper' than to invest in the stock market"
Take advantage of deals where you can buy in bulk because if it's money you're going to absolutely spend no matter what, and you can save on it, that's the best investment you can make.
"Sometimes, the best investment you can make is being a smart shopper"
Don't accumulate credit card debt
"The worst investment in the world is credit card interest"
If you are using credit cards, pay the full balance on time. You don't want to have a credit card that you don't pay off every month. The interest you pay on credit card debt is going to cost you a lot more than you could ever earn anywhere else.
*Paying off your credit cards after 30 days, or not even using credit cards, is the smartest investment you can make or not make"
Save enough for a year, then invest
Earlier, it was recommended to save enough money to cover six months worth of expenses but in today's climate, you should save enough to cover your expenses for a year.
Once you're able to save for a year of expenses, then you can start investing and putting it into something that can appreciate, like a low-cost mutual fund.
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