Personal finance still isn’t required in high school or college. This results in many young adults not having a good foundational knowledge of managing their finances. Fortunately, this subject isn’t complicated. A willingness to learn and do a little reading is required.

With a small investment of time and energy, anyone can become fluent and knowledgeable about money. The payback on this small amount of time and energy is priceless. Money challenges are a significant source of stress for most adults. You can avoid these challenges.

Add these nine simple tips to your financial knowledge:

1. Be responsible for your finances. While many great money experts can help you with your finances, the personal finance field is also full of evil people.

• Take the time to read topics that pertain to your finances. Pay your bills. Stay on top of your money. Avoid leaving the responsibility to someone else.

2. Be aware of how you’re spending your money. Setting up a simple budget is the first step. Then track how you spend every cent, at least for the first couple of months. Everyone is surprised by how their money is being spent when they take the time to examine the issue.
3. Learn the differences between ‘needs’ and ‘wants.’ It’s not always easy to deprive ourselves of the things we desire. But if you can say ‘no’ when it’s appropriate, you’ll eventually be able to purchase essentially anything you could ever want.

• Many financial challenges are created by poor impulse control. This includes purchasing things you can’t afford and things you don’t need.

4. Keep track of your credit score. Credit scores become more important every year. It’s common for credit reports to have errors, so be sure to review your credit report every year. Take the time to learn about credit and how to build a strong credit profile.
5. Don’t wait to start funding your retirement. If you get started early, you can save money quickly. A little bit has grown into a lot over 40+ years. Compound interest works like magic.

• If your company offers a retirement plan, take full advantage. The tax savings and convenience are spectacular. Your company might even match your contributions.
  6. Invest in your career. Spending money to further your earning power is money well spent. This can include job-related training, books, and formal education.
• Hiring someone to mow your lawn isn’t out of the question if it permits you to spend time on more critical, career-related activities.
  7. Protect your health. Health insurance is costly for most people, but hospital bills are even more. Do everything you can to be as healthy as possible. And find a way to afford health insurance.
  8. Have reasonable expectations. You will unlikely live like your parents when you first head out alone. It will take time to accomplish what your parents have spent years building. Patience is critical.
  9. Get the right advisors. Having the right advisors – career coaches, financial advisors, accountants, and lawyers – sounds expensive. And It can be. But these advisors will keep you on track, and the ROI will be significant. Find professionals you like and trust.

Many older adults wish they could return and handle their finances differently. You’re in an ideal position to get started down the road to a healthy financial future. Take advantage of your unique situation. You can have a life of financial security. It’s much easier to avoid mistakes than it is to fix them.