1. Pay yourself first!
Create a budget. Many of us get caught up in the routine of paying bills, and once the bills are paid there is nothing left for ourselves. To be successful, you must have a good financial plan that includes paying yourself—and you should pay yourself first. Your share should be about 10% of your gross income. If you don't pay yourself, chances are you will start to resent living on your budget and give up. Paying yourself first allows you to reap a tangible reward from your daily efforts. Nobody likes working just to pay the bills.

2. Create a rainy day fund.
As a part of your budget create a rainy day fund. We live in a world with many ups and downs. You never know when you may need to repair the car, replace a major appliance or even fix the roof! To avoid the expensive credit card trap, make sure you have a pool of funds saved for unexpected expenses.

3. Set up an automatic savings plan.
Having funds transferred to your savings account automatically makes saving even easier!

4. Try investing in bank stocks.
It's not a get-rich-quick scheme, but over the long run bank stocks historically continue to grow. Remember that there are benefits to stocks that consistently pay dividends.

5. Pay down your mortgage.
Almost all financial institutions allow for both additional payments and lump-sum payments. Many allow up to 20% of the original balance per year. Instead of using your yearly bonus or unexpected cash for a vacation, think about applying it to your mortgage balance. Remember, for the first five years of a mortgage, the majority of your payment is applied to the interest and not to the principal. If you make any additional payments, request they be applied directly towards the principal balance.

Not convinced? Here’s an example: if you applied a lump sum payment of $10,000 to a $200,000 mortgage balance (based on 25-year amortization at a 6% interest rate), you would reduce your mortgage by 2-1/2 years and have an approximate savings of $28,000. If you applied that same $10,000 yearly over the next five years for a total of $50,000, you would become mortgage-free in just over 9 years sooner and save approximately $89,000! Sounds good, doesn't it? (Please note that these calculations are for general information only; your specific mortgage details may vary.)

6. Check your credit.
You can do this online with Equifax for a small fee. You want to make sure you know your credit rating and that no one has been using your identity. Picture this: you've found your dream home and the sales rep advises you that your mortgage application has been declined because of your credit rating. Your dream home is now gone.

Arguing about disputed credit items on your report with the credit rating agency could take months to rectify. So be prepared and check over your credit rating thoroughly right now. This sad home-buying scenario could have been easily avoided by staying informed. Don’t wait until it’s too late!

7. Try the power of persuasion.
If paying your credit cards in full is not an option, try negotiating a lower interest rate. Play the companies against each other. Don't be shy. Ask for a lower rate and to have the annual fee waived. You'd be surprised how often you are given what you ask for.

8. Credit cards: love them or leave them.
Credit cards can be a blessing or a curse. If you have an unexpected financial emergency, they are a blessing. If credit card purchases have become a way of life and minimum monthly payments are the norm, then they have become a curse. Wouldn't you like to have an investment that paid an 18-29% interest rate?

Pay off your credit card balances or, at the very least, consolidate high interest credit cards. A line of credit might be a good option for you to consider. Most lines of credit are offered at a significantly lower interest rate. This means more of your money can go towards your principal rather than the interest.

9. Educate yourself.
Take that class you've been dreaming of. Whether it's pottery or a how to invest in the stock market course, education is an important part of personal development. Take advantage of continuing education programs at your local high school and you’ll discover that one night out a week is less expensive than entertaining yourself with a fancy meal—or shopping. It's also a great way to meet new people with similar interests.

10. Hire help, but do your research.
It's important to hire a financial planner you can trust, namely someone who understands your goals. Shop around; not everyone claiming to be a financial planner is good. Ask your network of friends for a referral. Take some time out to invest in your own future. Learn about the different investments that are of interest to you. Follow the saying: "Don't put all your eggs in one basket."