Follow the money

• Pay yourself first

  Automate the transfer to savings for payday morning, so the decision is made before temptation shows up.

• Know your doubling time

  Divide 72 by the annual return. At 8%, money doubles in about nine years; at 2%, it takes thirty-six.

• Fees are a return, too

  Every percent you pay in charges is a percent the market has to earn back before you see a cent.

• Cash before courage

  Hold three to six months of spending in cash. It is what lets you stay invested when markets wobble.

• Own the haystack

  Picking the winning needle is hard. A broad fund owns the whole haystack and the needle with it.

• Kill expensive debt

  Clearing a card charging 22% beats almost any investment on offer — and the return is guaranteed.

• Time in, not timing

  Missing a handful of the market’s best days can halve long-run returns. They tend to arrive in the scariest weeks.

• Rebalance on a calendar

  Once a year, sell a little of what ran ahead and buy what lagged. Rules beat moods.

Rules of thumb for everyday savers, not personal advice.