Here are some of the expert advice on personal finance in ET:

Spend less than you earn: Thinking anything to the contrary seems blasphemous, but try saying this to today’s youngsters. For a start, make an estimate of your monthly expenses, and ensure that you keep a maximum of two months’ expenses in the bank.

Review expenditure heads: There are certain unavoidable expenses such as house rent, school fees, electricity bills. Then there are some which can be controlled like telephone bills, eating out and gifts. One of my clients actually has separate envelopes for eating out, petrol expenses and the like. If the family falls short on an eating-out budget, it goes to a South Indian fast food joint instead of the boutique Italian restaurant.

Now reviewing expenditure heads bring out an interesting point, how do i review my expenditure offcourse we can use credit card and track everything online but these leads to Spending more than you earn, again expert also says that we should use cash in most of transactions that way we have a psychology if cash of 5000 Rs goes we feel something, whereas when we do transaction thru card its looks someone else is paying :) .

So do most of the transations in cash, and track it using trackspends.com

Keep tracking and saving .......