INSULATE THE FUTURE

A penny saved is a penny earned. Janhavi Jadeja lists ways to get started with better money management

- Janhavi Jadeja

Money management is a life skill that can be learnt by making a conscious effort and it doesn’t matter if you’re in your early 20s or late 70s. No matter how much you earn, if you don’t know how to manage your money, there’s a high chance that you will run out of it. If you’re someone who’s looking to better their spending habits, this guide will get you started.

CREATE A REALISTIC MONTHLY BUDGET

The first step toward learning how to spend wisely is knowing how to budget. There’s no use having a strict or a drastic budget; if you try to cut down on your spending habits all at once, there’s a high chance that it will be counter-productive. If you’re someone who eats out four times a week, don’t try to completely cut down on eating out. Take gradual steps, lower it to two times a week and then bring it down to once.