Tomorrow is my birthday, and it’s a big number. Honestly, I’m not quite sure how I feel about it. I’ve been reflecting a lot lately on my life. I’m not one for regrets; I’ve always believed that if things didn’t work out the way I had hoped, there was a lesson to be learnt.

My father used to say that he never worried about me. He realised early on that I was the type of child who needed to learn from experience – there was no point in showing me or telling me how to do something because I was not going to listen. I was focused on doing things my way.

However, my mother did not share the same opinion. She was constantly worried about my decision-making. I’m sure that in my late teens, she thought I would “end up in the gutter” if I continued down what she believed was a careless path.

With that said, in the spirit of living half a century, here are 50 lessons I’ve learnt – some financial, some personal and some just random things I’ve picked up along the way:

1, Don’t listen to anyone who constantly boasts about their great investment returns. Self-promoters are often the worst investors

2, Never make the minimum payment on your credit card; you’ll never pay it off

3, Never borrow money when lending rates exceed 10 per cent

4, Don’t borrow money to have a wedding. It’s ludicrous and sets the stage for financial stress at the start of a marriage

5, If you choose not to have children, it does not make you selfish

6, Know what your “non-negotiables” are in your marriage, and stand firm on them

7, Plan for emergencies, and make sure you have an emergency fund – six months’ worth of salary at a minimum

8, Insurance is one of the best risk-management tools available. It’s essential for protecting your assets and loved ones

9, Update your net-worth statement at least twice per year. It will keep you on track

10, Make sure the “saver” in the family is the budgeter and banker. Never delegate that responsibility to the spender

11, If you’re going to buy jewellery or handbags, buy good quality so they’ll hold their value

12, Establish recurring monthly investment contributions. It will keep your savings on track

13, You have to self-promote if you want to negotiate a pay rise, no matter how uncomfortable it is

14, If you want your child to become independent, make sure they have a part-time job while in school

15, Create a list of goals you want to achieve each year; they should be both financial and personal, it will keep you focused on achieving them

16, Jealous people have no self-confidence

17, Not everyone has your best interests at heart

18, Your house is only worth what people are willing to pay for it

19, Join a club or an association. It’s a great way to meet new people with similar interests

20, If you don’t have time to cook because you’re too busy, then you don’t have time for a pet, as both require time and effort

21, Make voluntary contributions to your defined contribution pension plan. It’s an easy way to save money, and you’ll benefit from it long term

22, Read the small print. It’s small for one of two reasons – either they’re trying to hide something, or they have run out of room on the page

23, Don’t invest in anything you don’t understand. You can’t replicate it if it works out, or avoid it if it doesn’t

24, Run for the hills if you work for a company that is toxic at the top

25, A foreign currency exchange play can be good if you know what drives the currency

26, The bathrooms in US airports are some of the worst in the world, which is surprising given that the United States is a first-world country

27, Research your family tree. It is good to know where you came from

28, Too much diversification can erode investment returns

29, Visit a new country every few years. There are so many exciting cultures and cuisines to experience

30, Manners go a long way. “Please” and “thank you” are not outdated

31, You don’t have to justify your choices to anyone

32, Constantly taking hotel room bathroom amenities will eventually increase hotel costs

33, It’s easy to blame the person not in the room, but you’ll be far more respected if you own up to your mistakes

34, I wish I had bought Facebook when it came out at $38 per share, but I didn’t understand it

35, Dividend reinvestment is a great way to build your investment portfolio with little effort

36, If you’re moving money to another country or buying property abroad, research your tax obligations first

37, In every family, there’s always a member who feels entitled. They are dangerous – they’ll be the first to accept a handout and the first to contest a will

38, Everyone needs to budget. It’s the only way to understand where you’re spending your money

39, Crypto is here to stay. The sooner you understand it, the better off you’ll be in the long term

40, Alcohol stocks have historically done well in recessions

41, Be careful when moving to a country that has no extradition treaties. They’re a fugitive’s paradise

42, At some point in your life, you’re going to get conned or scammed. The sooner you identify it, the more time you’ll have to recover

43, Make sure to have a directive in your will to handle your pets

44, The 50-30-20 financial rule is a good rule of thumb (as defined by Investopedia, this involves spending up to 50 per cent of your income on necessary obligations, 20 per cent on savings, and up to 30 per cent to be spent on things you want but don’t necessarily need)

45, Planning for long-term healthcare and nursing care will be critical

46, I was not surprised by how much grief my father felt when my mother died, but I am astonished that even 11 years later, he has never asked me how I am doing

47, Growing my own vegetables is far more difficult than I expected

48, Read articles about investing and investments. They’ll help you make informed decisions

49, Meet with your financial adviser at least once a year. It’s not just about measuring investment performance but also evaluating the success of their recommendations

50, It’s important to plan for your future, but it’s equally important to “stop and smell the roses”

• Carla Seely has 24 years of experience in the international financial services, wealth management and insurance industries. During her career, she has obtained several investment licences through the Canadian Securities Institute. She holds the ACSI certification through the Chartered Institute for Securities and Investments (UK), the QAFP designation through FP Canada, and the AINS designation through The Institutes. She also holds a master’s degree in business and management