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Boring munchkin technique #2: invest in tax advantaged index funds with low fees. Specifically, in the following order:
Max out your employer's matching contribution, if available. It is near impossible to beat an immediate 50% or 100% return, even if you have to borrow money in order to take advantage of this.
Pay off credit card debt. Do not keep any high interest loans. Do not keep a revolving balance on credit cards.
Depending on circumstances (e.g. if you lose your job, is moving back in with your parents an option?) have a few months of living expenses available in ready cash.
Put as much money as you can afford into tax advantaged retirement accounts. In the U.S. that means 401K, 403b, IRA, SEP, etc.
Allocate all your investments except possibly your emergency fund into low cost index funds. 1% fees are way too high. Vanguard has some good funds with fees as low as 0.1%.
I could say more, but that's the basics. Do that and you'll probably be in the 90th percentile or higher of successful investors. If folks are interested in hearing more, let me know; and I'll whip up a post on rational financial planning. If there's a lot of interest, it might even be worth a sequence.
Tax-deferred retirement accounts make sense if you expect your tax rate to be lower in retirement than now. I expect tax rates to increase, so would rather pay the tax now than when I take the money out. In US, Roth IRA allows that.
"Your Money or Your Life" is worth reading. Build up your savings and decrease your spending until earnings on savings equal spending. After that, you don't have to work for money. Worthwhile work still enhances health and happiness, though.
Robert Frank's books on economics make the point that relative income is more important than widely recognized. Two examples he may have missed: 1) it's not just how much education you have, but how it compares to the competition. So the best-educated get the best jobs, but that doesn't mean everyone would have a good job if everyone was better educated. 2) losing health insurance is a disaster if you are competing for health services with the insured. But if everyone loses health insurance (e.g., Medicare collapses), doctors will have to lower their fees.