Some sobering statistics illustrate how far off from financial prosperity many Americans are. About 50 percent of people don't have a month's worth of income saved and 56 percent of people do not realize the importance of their credit score. If you are on the path toward becoming financially literate, there are some very critical tips that you need to internalize, so that you can secure your money for the present and the future. 

#1: Pay Off Your Debt First

Before you begin a plan of saving aggressively or investing, you need to know that debt is your worst enemy. At some point, you will always have to rectify that debt, so it is best that you tackle it in the beginning. For best results and so as to not overwhelm yourself, try to pay your debts one at a time. For instance, if you have one credit card with a balance of $2,000 and another with a balance of $200, pay down the card with the smaller balance until it is completely paid off. This way, you can build momentum, without getting discouraged. 

#2: Build Your Credit

Credit is nothing to be afraid of. Since car loans, homes, rental agreements and other circumstances require you to have a decent measure of credit, be sure that you are proactive about protecting and building your credit. If you do not have any established credit, open a credit card in your name. You can find cards that have shopping rewards or airline points, so that they can benefit your life and other spending habits. 

To build the credit, use your card pretty frequently with payments that you already have cash for. A good way to do this is to pay your bills with the card and then pay off your credit card balance every month. This shows creditors that you can be trusted. If you have poor credit, consider getting a secured card to begin building it back up. 

#3: Put Money in Savings

A key to breathing easy at night is knowing that no matter what emergency hits you, you have enough money in savings to counteract it. A rule of thumb is to stock up three months of income in a savings account. This way, if you lose your job or if an unexpected expenditure throws your finances out of whack, you'll be covered. 

By following these three golden financial rules, you'll set yourself on the right track toward prosperity. If you want to learn more, consult a financial planning business such as Global Wealth Consultants LLC.