On the whole some good tips - I do think these should be applied more generally too. It's always important to stay lean and watch the bottom line.

I have to disagree on the point about putting 20% down on a property! I've grown up around property investment and in my opinion the current economics are brilliant. I'm getting ready to borrow more and more to snap up some great bargains. The important thing with property is cashflow... it doesn't matter whether prices fluctuate. Lower capital values just mean higher cashflow... so bring on the good times!