When I first started managing my money, I wouldn't be able to consistently and actively manage my finances. I would take good note of my expenses and write down my spending for two weeks and then stop and then start again. I was stuck in the middle.
Know when to Stop. Usually, once you start earning big, you become attach with material things. At this point, you should learn when to stop spending. You should learn not to spend more than what you earn. You have to prioritize the things you need to put your income at. Always understand the difference of your needs from wants. Be very careful and aware because your wants can be very deceiving. It can make you fall in financial impediments.
To correctly manage your money, the first step is to keep track of where your money is going. This is useful for two purposes. First off, when managing taxes, it's always good to know where your money is coming in from, and where it's going. That way, you can see which expenses you can write off, and what your tax situation is. If you're new to internet marketing, or have an idea which you feel will generate a lot of income, you need to always keep taxes here in mind. Many new entrepreneurs start their business with no thoughts to taxes, and once the money starts rolling in, they realize that they have a lot to learn. It's far better to learn right when you get started, so you can begin to keep track of all your income and expenses.
Consider what I heard a few days ago from a woman I know. "I can't afford to have fun. I'm trying to manage my money." She must have thought I expected managing money to be a distasteful chore that is the penance for overspending. But, I don't think that at all. I do think cutting back on spending so you can pay old debt is the penance for overspending. But managing money is something you should do before you get into debt.
If kids don't learn finances from their parents, they aren't going to learn them, and they are going to end up in debt. Therefore, it is going to be up to parents to teach their children about finances. If you aren't sure how to go about this, there are lots of financial materials that you can buy to help you out.
These were some very simple money saving tips. People who follow them will easily manage to gather up extra cash in their bank account that they can use during the rainy days.
If you are not able of managing your money, deposit it. Some people spend money when it is there, and if you're one of those people, try not to keep cash on you.