Making the best of your monthly income

Let's face it, money management on a monthly basis is one thing that our formal education completely missed on teaching us. There is no overnight blast of financial enlightenment to help anyone out of the paycheck-to-paycheck life, but there are steps that you can take, to get better at it.

Start with tracking your expenses. Make it work- go hardcore with excel sheets, or keep it simple with an app of choice. But do not skip out on keeping track. Your bank makes it far easier with the bank statements. Take care that the emails are not stuck in the spam folder or the hard copies are not lost.

As a good practice, try to save up at least one third of your monthly income on alternate months, preferably in a deposit account or other investments. And most of all, if any scope of impulse buying comes up, think twice if you really need the thing.