We all want more money in the bank to keep up with the ever-changing demands of our lifestyles. There?s always a new outfit, health and beauty product or book we just have to buy. Or another dinner party to throw for our nearest and dearest.

What?s more, there?s that relentless need to satisfy our wanderlust and leave on a plane to see yet another undiscovered part of the world.

But short of marrying a millionaire (few and far between) or grabbing new job opportunities with attractive salaries (sadly, once again few and far between), there?s not much we can do to earn more each month. So we have to resort to the next best alternative ? making what we have in the bank work hard for us.

Don?t panic

Saving is easy enough and is all a matter of putting aside a certain amount each month. However, investments are another thing altogether. Just the thought of all the options out there is enough to make any numerically-challenged female flee in terror as a variety of possibilities such as bonds, shares and endowment plans come hurtling at her.

However, there?s no need to get into a panic: all you need is the right financial planner to provide a little hand-holding. Your planner will be able to assist you in developing and implementing a plan and investment strategy to suit your needs. In addition, he or she will be able to assist you on your financial journey by helping you make the right choices along the way.

To help you get started, here?s a list of the 10 golden rules of investment:

• Have a plan: It is often said that those who fail to plan, plan to fail. If we all spent as much time planning our financial affairs as we do planning our holidays, we would all be better off financially.

• Get independent professional advice: For your own protection, also get it in writing.

• Never put all your eggs in one basket: Generally speaking, the more you spread your assets across the various standard asset types (shares, property, fixed interest and cash) and between a variety of fund managers, the more resistant your portfolio will be to serious damage.

• Understand the risks: It is often said that the higher the return, the higher the risk. The mistake a lot of people make is to confuse return for performance. Chasing high returns over the short-term makes you a speculator.

  Prudent investors look for consistent returns over the long-term. Short-term fluctuations don?t trouble investors because it?s the long-term behaviour of their chosen assets which they focus on.

• Don?t lock yourself in (or out): This means investing your money in such a way that you can access it quickly if you need to. You must, at all times, be ready to quickly and cheaply rearrange your assets if necessary to either avoid a threat or take up an opportunity.

• Minimise tax: It is important that you are saving in a tax-efficient way. Saving tax legitimately is one way you can increase your returns without increasing risk. While it?s important to take tax savings into account, it should not be the driver of your decisions.

• Keep good records: So many people lose tax deductions and other benefits to which they are entitled because they have not kept proper records. Yes, it is tedious but unless you (or your adviser) keep all the records, it could cost you more than just inconvenience.

• Keep your finger on the pulse: You should revisit your financial plan often to ensure that it is doing everything you expect it to and to ensure that your investments are performing appropriately.

  You should expect change, and change will need to be dealt with. Don?t fall into the trap of ?setting and forgetting?.

• Do proper estate planning: It is vital to plan your estate. While it is important that you have a will which you need to update it regularly, proper estate planning ensures that your assets are structured in the most effective way.

  Together with this, make sure that you have sufficient life cover and insurance and that it is all clearly integrated into your estate.

• Pass the sleep test If you are being kept awake at night worrying about your investments, then you are either taking on too much risk or you are unsure of what you are doing.

At the end of the day, there?s no reason why can?t be forever free of debt by learning to use your money wisely. Whether you?re single or married with children, the need to be self-sufficient should always remain high on your list of life?s priorities.

So the next time you?re out shopping and are tempted to spend, here?s some food for thought: assuming you took the money you would have spent, say R720 each month and put it in an investment fund that yields an average of three percent a year, you could make over R100 000 in just 10 years.

Select a more aggressive portfolio that targets a yield of nine percent per annum, and you only need to put in R530 each month.

Would you rather have more than R100 000 in the bank, or a few new outfits and accessories that have gone out of fashion?