In financial matters, just like in the rest of life, there is nothing new under the sun. Although technology and fads may create new opportunities, good financial advice rarely changes. Here are five basic rules for financial success that are not-ground breaking, but will work if put into place.

Create A Budget, Stick To It And Modify It As Necessary

The oldest and most sensible tip is to track your cash flow. Some just spend whatever comes in without much regard to how their money could be put to work more efficiently. Creating a budget helps you rein-in your costs by creating a guide for each month. A budget doesn’t have to equate to penny-pinching, but it can tell you what you can and cannot afford.

Only Buy What You Can Afford

When your budget reveals how much cash you have to spend on certain categories, you are less likely to buy what you cannot afford. Avoid going into debt for trivial things. Before you make a purchase, think hard about whether or not you need the item. A shiny new car is nice, but is it worth the years of debt or high monthly payment that could otherwise be growing as an investment?

But, Remember The True Goal Of Savings

You can’t take it with you, so don’t save at the expense of enjoying your life. If you die with millions in the bank, that’s great news for your heirs, but maybe a slice of that fortune could have made your life more enjoyable. Save for things that are worth being spent on, such as memorable vacations.

When You Invest, Diversify

The simplest investing advice will always be the same. Spread your money over various different types of investments to mitigate risk. Market-index funds historically produce sustainable returns. Sure, you can try to beat the market, but then you increase the risk of losing. Focus your scrutiny on getting the most return for the lowest cost.

Spend Less On Fees

One way to lower investment costs is to shop for low-fee options. The more fees you pay, the less money goes into your account.  Extend this mentality into savings and checking accounts as well. If you are getting less-than-stellar rates from your bank, look into online institutions that typically offer higher rates and greater convenience.