“There is no more expensive form of bondage than spending more than you have and paying interest of 15% or more on your credit card,” Orman wrote in a blog post.

She recommends paying for everything with a prepaid debit card or a debit card that is tied to a checking account that does not have overdraft coverage.

“Make paying back your student loan the very first bill you pay,” Orman wrote on her Facebook page. “It is more important that you make your student loan payments on time each month than any other (bill). Student loans are the one debt that by law cannot be wiped out in bankruptcy. And the (government) has all sorts of ways to get the money you owe including taking it directly out of your paycheck. Don’t fall behind on your student loan debt.”

“Debt is bondage,” Orman told CNBC. “You will never, ever, ever have financial freedom if you have debt.”

Not only is it expensive to carry debt, but it can also negatively impact the choices you make in your career.

“When you are in debt, you feel it,” Orman said. “Your boss can feel that. You render yourself powerless. You walk into an interview and you need that job because you have to pay for your debt.”

That’s a problem because “powerlessness repels people,” she said.

Having a healthy emergency fund is essential to ensure you’re financially protected when “what ifs” strike. Orman said that having eight months worth of living expenses is what everyone should strive for.

“I know that’s a lot, but I want you and your loved ones to be OK if you were ever laid off, or sick for an extended period of time,” she wrote in a blog post. “Sure, it could take years to reach your eight-month goal. That’s totally okay. The important issue is that you are starting to save today and so every month you will be moving closer to your goal.”

If your gut is telling you a financial decision is a bad one, don’t ignore the signs. Orman gave this example to CNBC: “A friend, relative, loved one will approach you saying, ‘I need to borrow $5,000.’ You’ll think, ‘I don’t want to’ and yet you say ‘Okay.’ Think twice before you say ‘yes’ if your gut is saying ‘no.’”

“I have long recommended that you base your retirement planning on living to at least 90; to be even safer planning to age 95 is even smarter,” Orman wrote in a Facebook post. “Anyone who makes it to age 65 basically has a 50-50 chance of still being alive in his or her mid-80s. And living into your 90s is not nearly as rare as you may think.”

Orman added that not being financially prepared to live into your 90s is “a very costly mistake.”

Mutual funds and ETFs charge an expense ratio, which is an annual fee that is deducted from your fund’s performance. Keeping this fee low will protect you in down markets.

“If your portfolio is full of investments that charge 1% or more, I am telling you that the best move to make today — and that will pay off for the rest of your life — is to focus on lowering your costs,” Orman wrote in a blog post. “Paying less in fees means keeping more of your money growing for your future. And that’s extra important for the times when market returns are low, or even negative.”

When you leave a job, you have the option of keeping your retirement account in the old 401(k) plan, but Orman suggests either converting it to an IRA or rolling it over into your new company’s 401(k) if they allow.

“Does this take a little bit of time and paperwork? Sure. But it can be more than worth your time if you have money sitting in funds that charge annual expenses of 0.25% or more,” Orman wrote in a blog post. “That’s because there are plenty of low-cost index mutual funds and exchange traded funds (ETFs) that charge as little as 0.10%-0.25% in annual expenses. And that can mean big savings.”

Orman also recommends reading the fine print in your 401(k) plan and going with the option that costs the least money. “While you are limited to the funds offered within your plan’s lineup, it’s in your power to choose the lowest cost options,” she wrote in a blog post.

Saving on fees this way could save you a lot of money in the long term.

“In my opinion, if you have a good (financial advisor), they’re worth their weight in gold,” Orman told CNBC. However, it’s important to note that not every advisor is worthy of your trust.

“Don’t think that they’re always going to have your best interest at heart, because probably they have their own best interest at heart,” she said.

It’s best to work with a fiduciary, who is legally obligated to act in your best interest. And before working with anyone, vet them by asking questions like, “How are you compensated for our working together?” and “What other services do you provide to me?“

Not only does exercising and living a healthy lifestyle improve your quality of life, but it can also save you money in the long term.

“A married 65-year-old couple with just typical prescription drug costs in retirement that wants to have a high confidence they will be able to handle their retirement medical expenses is projected to need nearly $150,000 less over their lifetime than a couple with very high prescription drug costs,” Orman wrote in a blog post. “I hope that’s ample motivation to get you moving a bit.”

In her book “Women & Money,” Orman explains why saving for retirement has to take precedence over paying for your children’s college education: Your children can take out loans for college, but you cannot take out loans for retirement. That means that if you haven’t saved enough for your retirement, you will ultimately become a financial burden to your kids.

“Paying off all your debts before you retire is the ticket to a more secure retirement,” Orman wrote in a blog post. “Your bills will be lower, which is what you want when you are going to be living on a fixed income. Besides, there’s the emotional benefit. If your living costs are lower — because the mortgage and home equity loan are paid off, and you don’t have credit card debt nagging at your conscience — your stress level is going to be lower. And isn’t that what you deserve in retirement?”

“Delaying Social Security can be the most precious tool in your retirement planning kit,” Orman told AARP in an interview. “Delaying your Social Security start date until age 70 entitles you to a monthly payout that’s more than 75% higher than your age-62 benefit. That’s a whole lot more money to support a much older you.”

“Think of a reverse mortgage as a last-resort emergency fund in retirement, not a primary piece of your retirement plan from day one,” Orman wrote in her book “The Money Class.”

“If money is so tight at age 62 that you think you need a reverse mortgage, my concern is what happens at age 72 or 82? If you tap all your home equity through a reverse at 62 and then at 72 you realize you can’t really afford the home, you will have to sell the home, and you may end up giving most or all of the sale price back to the lender to settle up.”

When it comes to estate planning, Orman recommends you have the following documents prepared:

• Will
• Revocable trust
• Financial power of attorney
• Durable power of attorney for healthcare

“If you die with no will or trust in place, the courts will follow state law to disburse your assets — no matter what you may have once promised your sister or told your spouse,” Orman wrote in O, The Oprah Magazine.

“If you die with only a will in place, the courts will have to give the document a stamp of approval before divvying up your estate. This is known as probate, and the cost of this necessary judicial step can eat up more than 5% of your estate’s value and ensnare your heirs for a year or longer in a legal tangle. You can avoid bequeathing that heartache and headache to your loved ones by setting up the essential documents so that when you die, your assets go exactly where you want, as quickly as you want, with the least amount of expense.”