What are 9 bad financial decisions to avoid in your 20s?

• Don't buy a new car. Don't pay depreciation.

• Negotiate a longer term for your student loan if you can. You will pay more over time, but your earning power is low when you just graduate.

• Focus on work, not consumption. Avoid "shopping" as an activity.

• Learn to cook. It is enormous. It's fun serving a gourmet meal to friends. Cooking regular meals at home saves money.

• Avoid going out to drink regularly. It is a habit to be avoided. I prefer to invite friends over for a beer or two. An occasional outing is good.

• Number 7 opens an account with a discount broker, makes a modest monthly wire transfer, and invests or trades mutual funds and stocks.

• Subscribe to Investor Business Daily for a while.

• Become familiar with the real estate market in and around the city where you live. Observe the cyclical variations over the years..

• Never risk "everything"; risk what you can afford to lose