For me, I have been in a huge debt and now I am trying to recover. My technique is:
- Classify which kind of money for which kind of purpose: What is the necessary spending that you must spend every month? Then separate your income
- How much will you spendonr recreational purpose? I am against the idea that saving money means that we don't spend anything. For me, a healthy and balance mind will help you earn even more. Therefore, I have a sum for spending on my hobby like buying books or stuffs.
- The rest: 50% to saving, 50% to investment. Believe me, if you don't invest your money, it will decrease overtime.
Hope it helps. Right now, my percentage is 30% necessary spending, 15% for recreational and 55% for paying debt.