- Know what your income is, and spend less than you earn -
Save.
Most financial planners encourage saving. Make saving a priority. As soon as you get paid, deposit the amount you wish to save in a bank or other location for safekeeping. That will help you to fight any temptation to spend those funds.
Budget.
This is the only practical way to monitor, control, or reduce your spending. A good budget can give you a sense of where your money goes, and it can help you to reach your financial goals. Know what your income is, and spend less than you earn. Learn the difference between needs and wants.
Plan.
Carefully consider your future needs. For instance, if you plan to purchase a house or an apartment, obtaining a mortgage at a reasonable rate may be a good decision. Similarly, a family man may feel the need to purchase life, health, disability, or other forms of insurance to protect his loved ones
Learn.
Invest in yourself by acquiring skills and taking care of your physical and emotional health. These are investments that will pay you back. Make learning a lifelong habit.
Balance.
Keep money in its place. Survey after survey shows that those who care more about people than they do about money are happier. Some allow greed to throw them off balance