Once you begin working, you will feel the need to start saving money. Congrats if you have already saved some money. One more question which pops up in your mind is “How to manage personal finance habits?” Worry not! Let’s get started, folks!!!.

1. Track your income and expenses: X earns Rs.15,000 per month but spends all the money on the next pay. Then the individual wonders why no savings is being possible. So the individual keeps a record of all expenses and saves money.
2. Do not overspend on gifts: Like it was mentioned earlier X earns Rs. 15,000 per month. That entire amount cannot be spent on buying so many costly gifts. X will have to go hungry if all the money is spent recklessly. No savings.
3. While shopping, have a shopping list and stick to it: This way you can avoid making unnecessary purchases. 90% of what X buys is useless stuff which X doesn’t need. That’s why X cannot save money.
4. Pay bills online and check bills when you receive them: After purchasing and paying, ask for a bill and go through that bill. That will tell you how much you have spent. Pay bills online as much as possible.
5. Spend less than you earn: X learned this the hard way by spending Rs. 15,000 once!! Then X had to take a loan for the rest of the month and is now repaying that loan. Do not stretch your feet if the blanket is short otherwise your legs will get cold. (For Personal Loan Advice )
6. Saving part of your income for retirement: One of the things which X does well is this. X has started saving money for his retirement from now itself. You should also save some amount for your retirement days so that you don’t have to depend on anyone.
7. Keeping a budget and following it sincerely: X has learned to keep a budget which is faithfully being followed. X knows that this will be helpful in managing money. You should also design a budget plan for yourself and follow it wholeheartedly.
8. Pay bills on time: X always pays bills at the earliest so that unnecessary late fees payment can be avoided. So never delay paying bills.
9. Treat your household like a business: Manage your finances and look for ways to maximize your income.
10. Eradicate bad habits which consume your time, wealth and health: Yes I am talking about smoking, drinking, chewing tobacco, taking harmful drugs, gambling and such vices. Avoiding all these will benefit you.

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