Personal finance can be complex. But there are a few rules of thumb to live by. Avoid credit card debt if at all possible, this is important. You may have to

Personal finance can be complex. But there are a few rules of thumb to live by. Avoid credit card debt if at all possible, this is important. You may have to take on long term debt in the form of a mortgage, vehicle loan or student loan and these are unavoidable life expenses. Even though you may have these long term outstanding debts and other recurrent expenditures it is still vital to save. The amount you should shoot for is ten percent of your gross pay and put that into a savings account first. You can save for your first car from that or your next car. These are probably the two most important basics.