Stick to a BudgetCreate a budget that you can maintain every month. New to budgeting? A good rule of thumb is 50% of your income goes to essentials, 20% is for building your savings and paying off debts, and 30% is used to cover extras or unexpected expenses. Calculate how much of your income should be allotted for each category, and stick to it.
Set Financial Goals
Set short, medium, and long-term financial goals for the year (and beyond). Whether you want to go to a concert, pay off a credit card, or purchase a home, start saving a percentage of your income to accomplish your goals.
Save Your Raise
If you received a raise at the end of the year or think you might get one in the coming months, remember that using it to fund more lifestyle purchases may not be the best choice. Consider putting the extra money into savings instead.
Appreciate What You've Got
Learning to appreciate what you have will keep you from overspending on things you don't really need. Every day, think about your wants and your needs. Doing this will help you maintain a healthier financial mindset.