There is a lot of financial advice floating around on the internet about how to secure your future.

They are usually lists of the best practices to follow to ensure that you don't run out of money or that you have a cushion when you finally stop working.

While some of them are very insightful and practical, others should just be ignored.

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Here are 4 financial tips you shouldn't follow.

1. Outline the benefits/disadvantages of major expenditures

This is encouraged if you're investing something very expensive such as a car or real estate. People advise making a list so as to assess the viability of the purchase. However, if you feel uneasy you shouldn't be buying it.

2. Skipping things you enjoy

Most people would recommend dropping the cups of coffee, the nights out or that weekly pizza so as to save money. Unless you're in dire straits, then you shouldn't drop that habit as it won't affect the big picture on your savings future.

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3. Save 10% of your income for your retirement

This isn't nearly enough. Low incomes for entry levels jobs aren't conducive for a 10% income set aside. This is only possible when people are a lot further into their careers and by then 10% is too little or it's too late. The best plan would be to get professional help who can help you get a detailed plan with tips to prepare you.

4. Diminish costs by being sparing on tips and small fees

The money you save by skimping on such costs makes no dent in your savings. It costs you more to be a cheat than it does to be honest and generous.