Prioritise Expenses

There is no limit to spending on things. Don’t spend on those things which are not necessary. Spending on leisure is only advised when someone is earning way more than their basic expenses.

Make sure that you save some portion of your earning every month. Set a saving target for yourself and try to stick to it. 

Timely Repayment

Pay all your debts on time. If you have taken any loan, pay your EMIs on time so that no penalty or fine is slapped in case or late repayment. If the amount is due in credit card, try to pay it on time because it attracts a high rate of compound interest. 

Transfer Balance

Banks offer the facility of transferring dues from to one credit card to another. This facility allows people to bring dues to that credit card on which low-interest rate is charged. 

Keep a Tab on Your Income and Expenses

People are advised to maintain a register of their expenses and earnings. This habit will allow them to improve savings and analyse if they have spent on unnecessary things or not.