Advice for young people

A junior college student asked me to give a talk on financial planning to her school. My points will be quite simple:

1. Save 15% of your earnings.
2. Keep the money in a bank account to earn interest rate at 1% or 2%.
3 Do not invest the money in financial products that offer poor value
4. When you have sufficient savings, invest in a low cost unit trust (after you learn about the principles of long term investments.
5. When you get married and have family responsiblilities, but a term insurance policy to cover you for 3 to 5 years of your income.