We all want more money in the bank to keep up with the ever-changing demands of our lifestyles. But with the local economy currently in recession, many women are finding it hard to end the month in the black.

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.

We invest so much time and energy into making money yet somehow fail when it comes to managing it. To gain optimal financial quality of life, we need to be able to manage our money in such a way that it does exactly what we want it to, ensuring that it is meaningful for us.

Saving is easy enough and is all a matter of putting aside a certain amount each month. Investments on the other hand are another thing altogether and the variety of options available can seem rather intimidating.

However, with the assistance of the right financial planner, the world of investments can easily be navigated. 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, we listed the following ten golden rules of investment:

1. 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.

2. Get independent professional advice

   For your own protection, also get it in writing.

3. Never put all your eggs in one basket

   Generally speaking, the more you spread your assets across the various standard asset classes (shares, property, fixed interest and cash) and between a variety of fund managers, the more resistant your portfolio will be to serious damage.

4. 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.

5. 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.