For many people the term
This means that you should know your spending limits and to be fully aware of your spending habits. You need to ask yourself how much you realistically need in order to survive, how much you will have left after expenses and if there is an amount that you can save. It is also vital that you understand when it comes to
It is always important to put money aside for emergencies which have a habit of creeping up on us when you are least prepared. Make the necessary cut backs and target a percentage of your salary to go to savings. This is achievable with some creativity and discipline. It is also advisable that before spending, you understand how to save.
There are many ways to learn how to save money; you just have to be willing to give it a try. You should avoid making impulse purchases, and do not make purchase just because they are on sale. Learn to buy things when you absolutely need them and do not purchase the latest trends at the height of the season. Have a savings target and ensure that you put this money aside even before you spend your income.