Consider where you find yourself as each phase requires a different strategy.

1. From nothing to something. This is where you live from paycheck to paycheck without any savings. Try to build a financial buffer of at least one month of expenses.
2. Gainin...

Three accounts make it easier to get a grip on your finances.

1. The normal checking account. Use this account only to cover groceries and small purchases.
2. The fixed costs account. Ensure there's enough money to cover your mortgage and bills fo...

1. Do a personal finance assessment. Ask what's coming in, what's going out, where's it going, and what's left. That is all you need to know.
2. Proactively try to negotiate lower interest rates on your debts.
3. Make extra payments

First manage the money you do have, then use your money to generate more money. You don't need to think about investing until you're out of debt and have multiple ways of generating income.

• Use the 90/10 rule, where only 10% is used on speculation.

Debt is a liability unless you use it to finance income-generating assets. Don't take on debt for anything that does not increase in value over time.

Suitable forms of debt include buying real estate as a rental property, investing in your business, or a student loan.

• The Richest Man in Babylon, by George S. Clason. The message of this 1926 book is that rich people are rich because they save their money and don't get into debt.
• Your Money or Your Life, by Vicki Robin and Joe Dominguez. This book will change your...