If you set as a goal to live within your means you will immediately understand what expenses you can or cannot incur to avoid having to ask other people or the bank for money.

At this point it becomes important to analyze one’s monthly income and spending habits.

There are many best practices for managing money better and better…here are some fairly common ones to help you avoid missteps when it comes to managing your money.

  1. Create a financial diary
  2. 50/30/20 rule
  3. Spend one minute of money a day
  4. Set financial goals
  5. Set a periodic budget

Learn about other financial best practices

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