This is really easy but many do not do. It takes responsibility and perseverance and just like exercising, you see the pay off later.
1. Know your real income - do not leave anything out including tax refunds and bonuses.
2. Track your spending - now that you know how much you have, you must also know where you are spending. Again, do not leave anything out.
3. Cut out the wants - after doing no 2, you probably have a pretty good idea where your money is going and this is where self control comes in. Buying another 2 pair of shoes when you already have 10 is a want, the same goes for that high - end vacation to Paris.
4. Set a Goal - what are your financial goals? How much you want to have when you are retired. How about that dream house, education..
5. Review and adapt - this is important. Review your income, your spending, your wants and needs and your goals.
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