Avoid unnecessary debt, especially debt that has high interest such as credit cards. Pay all debt off as quickly as you can, even if it means taking out an extra mortgage to do so.

If you are saving, then make sure you know what is you are saving for. A house is always the best thing to save for. A car will always depreciate very fast, and vacations are a very quick way to burn savings.

If you are saving a portion of your money, such as 10%, then make sure you stick to it. If you are budgeting then make sure you stick to that too. It is very easy to do, after a while it just becomes habit.

If you are looking to build a share portfolio you really should learn something about investing in stocks first. It’s not a good idea to just leave it to a stock broker, they do not care about your money as much as you, and they work on commission. Choose some companies that you really think are a good investment. Do some research into the companies and find out what products they offer. Choosing a company just because they have a product that you love can be an investment strategy. Alternatively choosing companies that you think have great potential and good future are other reasons.

If you want to invest in real estate then to make any decent returns you will need acquire debt in the form of a mortgage. This debt is much safer as it is secured with real estate that is bringing in income to cover the interest on the mortgage.

It is because real estate is so secure banks will lend you money against it. This creates leverage in your investment. Banks don’t lend money for you to invest in stocks.

Real estate is the preferred investment choice for many people who know little about investing. If you don’t have the time to learn how to invest in stocks then this should be your choice of where to allocate your savings.

Lucy is now an avid investor, in both real estate and all types of stock. Lucy has Bachelor degree in finance and real estate. For more information on personal finance education please visit Your Financial Advisor