Lucky us. We were unfortunate enough to be “growing up” in a less than impressive global and national economic situation. That is a fact, and the future of the economy is up in the air—like it always has been. So we can do one of two things: 1) blame our government officials, our ancestors, or a number of other individuals that had an immeasurable effect on the economy or 2) face the facts and plan for the worst.

When planning ahead, we need to think long term about what the future could hold and understand the basics of saving up our hard-earned money. Unless you’re an economics, finance, or accounting major, you might be in the dark on saving and methods of investing (like I was).

I read an article on Gwyneth Paltrow’s goop website that covered everything a young professional should know about saving and investing. The article, written in 2009, was somewhat dated, but I found the information very helpful as someone without prior financial knowledge and definitely still valid. We might not be buying stock quite yet, but this information is infinitely useful for the future.

Lynnette Khalfani-Cox, personal finance expert, gave ten easy tips on saving more and earning more on those savings.

Just ask. It’s amazing how few people are willing to bargain or barter for items that could easily be discounted or free. Prices usually aren’t written in stone for a wide array of items—from clothes to bills. Don’t be afraid to ask! It’s okay to look for a good deal.

Embrace your budget. “Even millionaires have budgets!” Get rid of the negative connotation of a budget and realize it doesn’t have to be so restrictive. You can still have those splurges, but budgeting is a way to take control of your finances so that they don’t control you.

Boost your credit. A high credit score can result in tons of benefits like good rates on student loans and mortgages, better-paying jobs, savings on insurance, etc. To maintain a great credit score you need to pay your bills on time, keep your credit card balances at no more than 30 percent of your available credit limit (if you max out at $10,000 never owe more than $30,000 at a time), keep older bank accounts open because the longer your credit history the better your score, avoid “bad” forms of credit because certain credit cards from department stores for example can harm your score, and lastly only apply for credit when you need it because taking on too much credit or even applying can lower your score.

Go shopping with three things. Shopping isn’t bad if you have a budget, a buddy, and a stopwatch. Your budget is how much you can spend in cash or the amount of credit you can afford to pay off in two to three months. Your buddy is your accountability. He/she will make sure you stick to your budget. Your stopwatch is the amount of time you will spend at the mall. Long trips usually result in overspending. Usually one to two hours is a good maximum limit.

Turbo-charge your savings. “[You] get a matching contribution for your savings by opening an Individual Development Account…which is a savings account designed to help people develop fiscal discipline and reach goals, like saving for college, buying a home, starting a business, or paying for retirement.” With this account, every dollar you put in results in a $2 to $3 additional contribution. The only catch is that you have to commit to saving for a set amount of time.

Don’t invest prematurely. Do not invest in stock until you have done these five things: “paying off credit card debt, establishing at least a three month cash cushion, purchasing life insurance and disability protection, and drawing up a will.” Until you’ve done these things, you shouldn’t risk investing in case something unexpected comes up and you need that money.

Focus on the investing process—not the products. Don’t obsess about the products or the so-called best stock, bond, or mutual fund. Think about these five steps in the investing process: plan to meet your personal goals and needs, acquire the right investments for the right purpose at the right price, hold and monitor your current investments, sell your investments at the right time and for the right reason in a tax-efficient way, and lastly pick your financial advisors carefully.

Avoid schemes and fads. Don’t get lured into get-rich-quick schemes and investment trends. Stick to reliable stocks, bonds, and mutual funds.

Be conscious of risk. Too much confidence could be the death of you. The risk is sky high if you put all of your eggs in one basket.

Select a trustworthy financial team. Do your homework to stay away from financial advisors that are inexperienced, incompetent, unprofessional, unskilled, and unscrupulous. With a bad financial team you could do everything right and lose every penny you earned.

It’s never too early to start planning for the future! By learning how to be mindful of your spending and investing now, you can lay the groundwork for a protected future for you and your loved ones.