1. Save for an emergency fund. Save small and big amounts in a dedicated account. It helps to manage life’s twists and turns. Deposit 10% of your monthly income to your emergency fund.
2. Pay off expensive debt. Check the interest rate on your credit card (short term) or any other loan you may have and prioritize paying it off. Maybe in a larger monthly installment – than planned. The earlier you pay off expensive debt, the better. Debt should not be more than 20%-30% of your monthly budget.
3. Track where your money goes. Understand your spending habits. It would help you to prioritize your wishes and ‘must do’ expenses. Household expenses ideally should be around 50% -60% of your monthly income.
4. Optimize expenses. Take a good look at where there is waste (groceries, takeout food, subscriptions, restaurant bills etc) and really focus on what you can do less of, at least for a while. That will enable you to save more and or pay off expensive debt.
5. Look ahead. Make a forward looking cash flow to anticipate months with high expenses (like months when taxes need to be paid or quarterly insurance installments or car to be serviced or school fees to be paid). It will create ease of mind, that you are in control of your expenses and telling money where to go.
6. Understand how money works. Investment in different asset classes and in different products linked to pension and insurance schemes that could grow the value of your savings. Most importantly, understand what questions to ask. What determines your risk appetite? The opportunity of returns? advisor charges and costs? Withdrawal of amounts in times of need and termination clauses in case the return is not what you expect it to be? This is what informed decision- making is all about.
7. Save for the future. The earlier you start the better. Saving for later years is crucial as state pensions do not suffice in providing quality of life options. For those who work independently, saving early is a blessing for your future life. These would be investment related savings, so that your money grows in value. Long term investments ideally consist of 20% of your monthly income.
8. Tax. Make a list of what you need to have at the tip of your documents’ library in order to file taxes. Understand how tax incentives and breaks can work to benefit your filing.
9. Pause before making a decision. Take time to have all the information possible before making a step in saving, investing and spending. Spend consciously; earn and invest with purpose and intention.
10. Observe your narrative on money. Celebrate small and bigger steps forward, treat mistakes as learning moments.

Source: https://www.queensofmoney.com/blog-list/9