Did you hear over and over, parents, teachers, experts in television, and even friends, when it comes to personal finance, there are rules to follow to be successful. Like most of the traditional knowledge, most of these "tried and true" are no longer subject to many of us. It is not necessary to look too far to remember a time when traditional data suggested that property values would continue to rise, almost indefinitely, or the Great Depression was an event that could never be possible, taking account of the economies of the world have become since 1930. That said, most people continue to follow the same rules of the financial plan for a generation before them. However, for those of you more interested in a more personal approach to personal finances, here are some rules that young adults should never be broken, but should consider breaking it, anyway.

     Save or invest a certain portion of their income

     I'm sure you've heard, more times than you remember, that to save only a small amount of your paycheck every month, you can retire at 60 years, with an economy of astronomical size. It's okay when you're 60, but what about the 40 years of life, then? Generally, the amount suggested is approximately 10%, and although the notice may be justifiable, their situation may not be appropriate for the strategy. On the one hand, many young adults and students have to think about paying higher expenses in your life, like a new car, home or postsecondary education. Potentially removing 10-20% of available funds would be a definite setback in making these purchases. In addition, savings for retirement is not a lot of sense if you have credit cards or loans with interest payable. The interest rate of 19% on your Visa card will probably cancel the feedback it receives from its balanced portfolio of mutual funds for retirement, five times.

     Also, save your money to travel and see new places and cultures can be a very rewarding experience for a young person who is not yet sure of his path in life. Most people cannot justify a trip through the year across the world when a mortgage and car payments, let alone store all the extra money in their retirement savings. While it is fiscally responsible at an early age is important, and think about their future in terms of an economy is crucial, the general rule of recording a certain amount for each period of retirement may not be the best option for young just to get into the real world. (For more information, see backpackers on a budget.)

     Going to College

     Although it cannot be seen from afar, universities are a big company. Try to think of another industry where companies can charge thousands of dollars for their services, while at the same time to receive donations of old customers and happy to receive preferential tax treatment of Uncle Sam Do not get me no, I'm a big believer in the powers of higher education for individuals and society as a whole. But since the world first quarters of the jobs increasingly abroad, and post-secondary enrollments continue to climb year after year, the laws of supply and demand suggests otherwise. More college graduates and school leavers unemployed and thousands of student loans, and the importance of a college degree seems like a Catch 22nd Employers reluctant to hire applicants who have not university education, but the number of qualified candidates can often far exceed the number of positions must be filled.

     Some may take another toll road with a shovel. A look at the business schools that offer vocational training more specific to a much lower price can get you started in the years to hand over school colleagues. Construction jobs, jobs and firefighters pay very well be very rewarding and does not require a university education. Before you do what the rest of your colleagues do, to avoid thinking about what the university position you want to do and if you need to spend four years and $ 80,000 for it. (For more, see page 6 jobs that do not require degrees.)

     Long-term investment / invest in riskier assets when you are young

     The golden rule for investors is that young people should have a long term investment and adhere to a philosophy of buy and hold. This rule is one of the easiest to justify the break. On the one hand, investors who followed the rules of buying and holding still irritated by the credit crisis that took place in 2007 and 2008. Sophisticated investors find attractive entry and exit actions and use market volatility to your advantage. Being able to adapt to market changes can be the difference between making money or limit their losses, compared to sit idly by and watch as your hard-earned savings shrink. In the short-term investment has its benefits at any age.

     Now, if you no longer married to the idea of long-term investment, you can stick to less risky investments, too. The logic was when investors have young of such a long investment horizon, they should invest in companies at higher risk because they have the rest of their lives to recover from any losses they may to undergo. But if you do not want to take undue risk in your short to medium term investment, you do not need. The idea of diversification is an important part of creating a strong investment portfolio, which includes both the risk of individual actions and their expected investment horizon. Remember that the investment must be meaningful to both aspects, and you no longer need to follow these rules old and tired to invest.

     The Bottom Line

     Personal finance rich can have more "tricks" and "healthy treats" than anyone else. While these practical rules of thumb are intended as general guidelines for most people, remember that you are a person. It was just a few rules of personal finance that does not work for many young adults, there are countless others. Look carefully at your situation and do what makes more sense for you financially, chances are you will end up in the same where they are designed to reach you.