Here is a reminder of the main points:
Live within your means
Keep track of your monthly income and expenses. Set a budget for how you will spend the money you earn.
Spend wisely
Get into the habit of dividing up your expenses into needs, wants and savings or debts.
Free up funds
If you're not saving as much as you'd like, or find it hard to cover your costs each month, look for ways to reduce your cash outflow.
Build emergency savings
Aim to build up enough savings to cover at least 3 months of essential cash outflows, in case of emergency.
Avoid excessive borrowing and manage your existing debt
Aim to borrow only what you can reasonably afford to pay back.
Save for the future
Start saving for your retirement as early as you can. The younger you start, the bigger your retirement fund.
Protect what matters
If you can, take out insurance to protect you from risk that you would not be able to cover yourself.
Beware of scams and fraud
Online financial fraud is on the rise, so take steps to avoid becoming a victim of cybercrime.
