1. Know the difference between the things you want (desirables, expected, replaceable) and the things you need (basic, fundamental, indispensable, irreplaceable).
  2. Keep receipts, invoices, and other papers related to your finances - mortgage every year, taxes every two years.
  3. Identify unnecessary expenses that you can eliminate.
  4. Budget to ensure your cash flow is positive (surplus/savings).
  5. When you make your first budget, make sure it is realistic, flexible, and that the experience is positive so that you continue to use this powerful financial management tool.