50/30/20 Rule: Divide your monthly income into 50% needs, 30% wants and 20% in savings.
Wait 24 hours before spending substantially and question, "Do I want it?" Go for it if you receive yes, else no.
After receiving your monthly salary, automate or transfer a fixed amount to your savings account.
Build an emergency fund to avoid credit card use for unforeseen bills. Saving three to six months for living expenses is advised.
Investment accounts like 401(k)s and Individual Retirement Accounts can help you earn more later in life.
To efficiently manage your money, invest in private equity, equities, bonds, venture capital, and commodities.