Very good advice. I'd add some more regarding choice of savings financial instruments

I'm pursuing strategy suggested by Nassim Taleb in his books. Put 85-90% of your savings into the most reliable instrument you can find (like government bonds) and other 10-15% into high risk high reward things on the markets where nobody can tell what will actually work :) but where there is room for positive black swans.

And I also find this strategy doing a better job of motivating myself to save regularly :)