There are many financial tips we’ve all heard over and over again. But many of these tips aren’t perfect or don’t apply to every person’s individual situation. Instead of just following tips that you heard about on television, take the opportunity to consider if the tip is really appropriate for your situation today. You might find a better alternative that makes more sense for you right now.

Here are some financial rules that are popular to follow:

1. Cut your expenses to have long-term financial success. Most of the well-known personal finance gurus focus on cutting expenses and saving money. I am going to assume that you already know you shouldn’t spend money unnecessarily, but there’s only so much you can cut from your expenses. Once you have cut your expenses as far down as you can go, and you find that that is not enough, it may require you to consider making a lifestyle change that you may not be comfortable with.

How about increasing your...