1. Know your income and expenses: Knowing your income and your expenses is critical it is the only way that you will be able to remain in good shape financially.
2. Track your expenses: Lay out what you plan to spend (spending plan) and keep tabs on your progress, or lack thereof by referencing your spending plan.
3. Know your wants and needs: A need is something you have to have, something you can't do without while a want is something you would like to have. It is not absolutely necessary, but it would be a good thing to have. This is really important when going for shopping of any kind.
4. Don't Compete: Don’t fall victim to the “keeping up with the latest” mentality. Sure, your friends or neighbors might drive nicer cars, have the newest technology, or take expensive vacations, but that doesn’t mean you have to do the same.
5. Pay in cash: Using debit/credit card should be reduced. Debit/credit cards encourages spending even when cash is not available.
6. Keep an emergency fund: In life you should expect the unexpected, and this is why you need an emergency fund. The best you can do is to prepare for emergencies that require access to additional money and having an emergency fund is the ideal solution.
7. Save money wherever possible: For example, Cook at home often, make a list before going shopping, Regulate your electric use and so on.
8. Cut down on expenses: Take a hard look at your expenses. There is probably something you can cut out or at least cut down on. For example: petroleum, beer, dry cleaning e.t.c
9. Boost your income: There are several ways to boost your income here
10. Don't starve your self