We also have some advice that may help you prioritise your expenditures while you’re doing the aforementioned:

Create an emergency fund for yourself

Even if you don’t think you’ll need it, start saving for emergencies. You can start small by setting aside even INR 20 every day. You never know when you’ll find yourself short on cash, and when that happens, you’ll be surprised by how far you can stretch your funds to meet your needs.

Get Coverage

You should start thinking of insurance, particularly medical insurance, as a necessity rather than a luxury. A sudden medical emergency is the easiest way to fall into a debt cycle and getting yourself insurance protects you from that risk.

Examine the account statements.

Examine your account statements every few months to look for patterns in your spending. It not only makes you aware of any overpayments on bills, but it also encourages you to consider methods to do things more cheaply, such as preparing meals at home rather than getting takeout.

Know the difference between needs and wants

As much as appearances matter in the social media age, it’s important to distinguish between wants and needs. Although it’s acceptable to want and occasionally purchase expensive items, this does not imply that you actually need them. Food, for instance, is a necessity, but Michelin-starred cuisine is not.