11 signs you're going to be wealthy, even if it doesn't feel like it

Whether its a student loan or a mortgage, it is best to make all payments in full and on time. Paying off less and missing loan payments will end up costing more in the long run.

Business Insider's Áine Cain has some tips on how to pay off student loan debt in your 20s — including paying before the grace period, using auto-pay, and prioritizing loan payments.

Just because you can afford to shop at Whole Foods or your hip local market doesn't mean you should, especially if you want to end up wealthy.

The USDA says that a family of four can spend between $150 and $300 a week on groceries. Shaving those expenses in half can really accumulate on the savings side. Shopping at a store like Costco, known for its bulk products and huge savings, is economical and fun.

Life is full of unexpected surprises — and sometimes the unexpected can be costly. That's why it's crucial to save for a rainy day in the form of an emergency fund.

While the conventional wisdom is to save enough money to cover you for at least three months with no steady income, the more you save, the more freedom and safety you have for when the inevitable emergency hits.

If your company gives out bonuses and your first thought is to spend it all on a night out with expensive entertainment and gourmet dining, you may be doing it wrong.

While this extra income may feel like house money, you should think of it as money earned. Treating yourself in small doses if fine, but it also makes sense to do something productive with this influx of cash, such as adding to your investment portfolio or paying down debts.

Your pension will likely come with a default contribution amount — say, 4%. While putting that 4% into a 401(k) or IRA is a great start, you can easily increase that amount to great effect, especially if your employer has a matching program.

According to Business Insider's Lauren Lyons Cole, who is a financial planner, investing through a retirement account means you save money on taxes, while making sure your financial future is more secure. Instead of coasting by on the default, try maxing out your 401(k) and IRA.

Living below your means is a good indicator of financial responsibility. When you live in this state, all your basic needs are taken care of. You can afford additional luxury goods but resist the temptation to spend at will, meaning that your money goes to saving instead of the newest gadget.

Having a steady job and salary is nice, but it is even better when you are rewarded for hard work. A good career can quickly become a dead-end job if your salary doesn't even keep up with inflation.

Make sure to get the periodic raise you deserve — it can be as simple as asking.

Warren Buffett is one of the richest people in the world but lives in a house he bought in 1958 for $31,500. He told BBC, "I'm happy there. I'd move if I thought I'd be happier someplace else."

Buffett, like all of us, doesn't need a pricey mansion to be happy and his modest home is a sign of thriftiness that has allowed him to spend his finances on things he values more. If you're spending less than the recommended 30% of your income on housing expenses, you're in good shape.

The best long-term investments are low-cost, diversified, and aggressive. You don't want to waste money by throwing it at unnecessary expense fees or by putting all your eggs in one basket. It is also important to have the right mix of stocks and bonds based on your age and how much risk you can handle.

The absolute worst investment is not having any investment at all.

Credit card debt is a huge barrier to building wealth for millions of Americans. Debt can be a giant financial burden and decrease your credit score, restricting financial opportunities, like becoming a homeowner.

It is best to avoid credit card debt in general, but if you find yourself in the hole, there are some smart ways to get out of it.