I thought I was doing well with the new shawl but I goofed majorly and had to unravel the whole thing. Start again. But the patience I have to exercise is a transferrable skill, especially when it comes to making my money grow.

For both knitting and handling your money you require a pattern, or plan. A few creative geniuses can just start and keep it all straight in their head, but most of us require a vision of what we want to achieve, and the details of how to do it - Written Down!!

Your pattern or plan must match your current skills. Don't expect to do a complex Aran if you're a new knitter, and don't invest in complex tax shelters if you haven't mastered basic budgeting.

It's important to get good advice from experienced people in the craft. This is easy with online communities today.

Be prepared to take time. Knitting is one stitch after another, saving money is one dollar after another. It's better to do a little towards your goal every day than to do a whole load of things one day, then ignore it for weeks on end.

You need the right tools and material for the job. These are simple, but gaining proficiency requires constant practice. You will make mistakes along the way, so be prepared to go back and fix the major botch ups, but don't sweat every little glitch. So long as you stick to your plan you'll be okay.