How to stay financially healthy and stable (Do's and Don'ts)

Do's:
- Pray. It takes away your worries.
- Take care of yourself and your loved ones. Health is wealth!
- Love your job. Once you found a great job, you enjoy it, and extremely happy with your work, stick to it unless you have a far better alternative and absolutely sure it's worth it
- Save money on a regular basis and set it up automatically by direct debit from your bank account
- Save extra money for sudden financial emergencies and contigencies
- Be insured. Get life insurance, home insurance, auto, car (vehicle) insurance, and other necessary insurances to ensure peace of your mind
- Fund a registered retirement savings account
- Eliminate your debts. The longer they stay, the more painful it is for you
- Prepare for the unexpected
- Buy only what you need
- Control your spending
- Monitor and keep track of your income and expenses. Record daily expenditures so that you know exactly where your money is going
- Have only one credit card and keep your credit limit as low as possible
- Pay the full balances of all your credit cards to avoid those sky-rocketing interest rates which brutally rob you
- Pay your bills on time to maintain a good credit rating and excellent credit history
- Setup pre-authorized monthly debit to pay your bills and get rid of headaches and hassles
- Develop and implement an effective realistic monthly budget
- Set your financial goals on the short term (less than 5 years), intermediate (5-10 years) as well as long term (over 10 years) objectives
- Know your financial priorities. Avoid temptations
- Invest and diversify your investment portfolio
- Invest on things that appreciate in value over time (such as education, real state, property)
- Whenever you plan to loan or borrow money, make sure you have a working plan to repay it on time and thus minimizing interest rates and avoiding unwanted fees
- Seek the advise and help of financial advisers, counsellors, and financial experts
- Ensure that you have an up to date Will and Power of Attorney
- Do whatever it takes for the good of yourself, your family, relatives, community, country, and to the world. All good works will never bear bad fruit.

Don'ts:
- Don't cheat yourself and others
- Don't buy what you can't afford
- Don't spend more than you earn
- Don't use your savings to pay your bills
- Don't use money set aside for something to use it for another thing. Never do this!
- Don't take it for granted. Avoid those "Buy now, pay later", "No payments 'til next year" schemes and traps
- Don't borrow from one creditor to pay another debt. Don't use a credit card (or withdraw cash advance) to pay another credit card company

*** :) ***

Relax. Time is your friend. Grow old gracefully with peace of mind! Enjoy the rewards of your hard labour throughout those years!!!