3. Save for emergencies: Emergencies come  unexpected at any time. Saving some money as emergency fund comes as the last in the priority list for most of the people. Your car might require a pricey repair or you might find your house roofs leaking suddenly one day or an unexpected costly medical test.  All such situations can arise in any one’s life unexpectedly. But the question here is, whether you are ready to face such unexpected situations. If yes then well and good but if no, then you must always set aside some funds as an emergency saving and use it during the time of need. But often it is found that, most people put these emergency expenses on a credit card. So, to avoid much debt burden, start saving funds for such emergency situations from today. Remember borrowing is not always good. Plan to save six months’ worth of living expenses so that you can use it during an emergency.

4. Use credit cards only when necessary: Credit cards are handy and convenienent to use hence, nowadays people have become more addicted towards using credit cards every now and then. Do you rely on your credit cards for all your expenses? If yes then you are putting yourself in trouble as there will be huge debt on you later in future. Try to spend less and avoid buying needless this will help you save more for your future. Cut out extra expenses, for instance eating out regularly, paying for useless mobile services, shopping unnecessarily. Make a budget that allows you to live on a cash-only basis and try to use credit cards only at the time of emergencies.

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