There are 9 basic principles of finance that everyone should know. They are:

Money has time value - Money today is worth more than money tomorrow. This is because money can earn interest, and the longer you have it, the more interest it can earn.

1

Risk and return are related - The higher the risk of an investment, the higher the potential return.

2

Diversification is important - Don't put all your eggs in one basket. By investing in a variety of different assets, you can minimize your risks and maximize your potential returns.

3

You need to understand inflation - Inflation is when prices rise over time. This erodes the purchasing power of your money, so you need to invest in assets that will grow at a rate faster than inflation.

4

Taxes matter - Taxes can have a big impact on your investment returns. Be sure to consider them when making investment decisions.

5

There's no free lunch - There's no such thing as a free lunch. Every investment has some risk associated with it, so be sure to do your homework before investing your hard-earned money.

6

Know what you're buying - Don't invest in something you don't understand. Before you spend your money on an investment, make sure you know what it is and what it does.

7

Be patient - It can take time for investments to pay off. Be patient and wait for the right opportunity, and you'll be rewarded handsomely for your patience.

8

Know your retirement options - You need to be aware of your retirement options and make sure you're taking the steps necessary to secure a comfortable financial future.

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