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If you're not staying on top of your money, you are putting your financial well-being at risk.

Studies indicate that most of young adults struggle to grasp even the most basic financial principles that will allow them to manage money and prepare for their future.

Tying money up for 40 years doesn't sound appealing when you are young.

I have been rich, and I have been broke. Some of it is my fault for choosing bad management and making bad investments. But that is life - we all take risks.

I realize what it means to be financially comfortable, and I want to be that. But I'm lucky enough to be in that position. And I'm also careful. I save 38 percent of my earnings after expenses, before taxes.

Some studies show that women can be better money managers than men because they tend to be more conservative and do their homework. Men tend to take more risks without the research.

Understand and accept the cycles of money. The setbacks you may have today or next year will not keep you from financial freedom. If you hold on to your goals and dreams, you will get there.

The best money advice ever given me was from my father. When I was a little girl, he told me, 'Don't spend anything unless you have to.'

The best advice that I can offer is that being proactive and a careful planner is key. Think about the major things that could shake up your financial life, and I'll bet there are some great ways to protect yourself.