Fortune's 10 rules for building wealth

• Start early. By saving $1,000 a year at age 25, you could end up with five times what you'd have if you started at age 45.

• Use your 401(k). You put in pretax dollars so it's a great savings plan. Passing up employer contributions is giving up free money.

• Keep it simple. Choosing three or four index funds and a small-cap stock fund will give you broad exposure.

• Don't try to beat the market. Even the best fund managers have trouble beating the S&P 500.

• Don't chase trends. If you hear about a "hot" stock, investigate it. Go to investopedia.com.

• Make saving automatic. If you are maxing out your 401(k), get payroll deductions transferred to a Roth IRA or a high-interest savings account.

• Go heavy on stocks. The simplest formula: subtract your age from 120. That's the percentage you should have in stocks, the rest should be in bonds.

• Hold down fees. Be wary of any mutual fund charging a management fee higher than 1 percent. Or stick with an index fund.

• Get rid of credit card debt. Rank them by their interest rate and pay off those with the highest rates first. For low-interest student loans, consider making minimum payments and investing in your 401(k) instead.

• Defer taxes. In a taxable account, you'll pay 15 percent in capital gains taxes every time you sell a winner you've owned for more than a year. At tax time, sell losers to take advantage of the annual $3,000 capital loss deduction.

Get credit, improve your credit score

It may be hard to believe for the credit generation, but some people don't have credit.

While credit can easily be abused, having no credit can be worse since it limits your choices in home buying or even whether you can rent an apartment.

Young people who have never bought a car, women who have just divorced, or recent immigrants may all find they have no credit or credit score.

To start a credit score, open a department store charge account and pay it faithfully for at least six months and one day, the time needed to generate a FICO credit score. 

Credit scores range from 300 to 830. The score determines the rate you will pay on a mortgages and loans, and may determine whether you are approved for a new apartment. 

Revolving credit, such as credit cards, are considered a better indicator of how you handle credit and so they count more on your credit score than do fixed-payment loans such as mortgages. 

A great way to start your credit history is to get a secured credit card. You deposit money in a savings account and get a credit card that has a limit in that amount. You can borrow on the credit card, but you can't take the money out of the savings account until the balance is paid. Pay it on time, you should be able to get a regular card after six months. 

Don't apply for too many cards at once. Each time a lender looks at your report, your score goes down. 

According to the U.S. Census Bureau, one in six Americans will move to a new home this year. About one-third of those who move will do it when school is out for the summer. If you will be among them, plan to protect your goods and your pocketbook.

Debit card overdraft cost rises

As more people use debit cards to buy everything from gas to groceries, some of them are making mistakes and overdrawing their accounts.

Many banks are charging high fees for the oversight. The small-dollar transactions sometimes cost more than the debit. Research by the Center for Responsible Lending says the average fee for overdrawing a debit or checking account has reached a record high of $27.40. On average, for each dollar overdrawn on a debit card today, it will cost a customer more than $2 in fees, the center found.

According to Bankrate.com, a $27.50 fee for a debit to buy a $3 drink doesn't make sense. Carry some cash.