TIPS TO MANAGE PERSONAL EXPENSES
                     TIPS TO MANAGE 
PERSONAL EXPENSES
What Is Money 
Management?
• Budgeting, investing, saving and even 
spending are all a part of money management. 
Source: www.capitalone.com 2
Track Your 
Spending
• The Capital One Mind Over Money study found 
that using healthy money habits when you feel 
confident about your finances can help you 
when things get more challenging. 
Source: www.capitalone.com 3
Save for 
Retirement
• It may help to start small when it comes to 
retirement savings. In other words, you could 
save a small amount every month for now, and 
then add to it when you feel ready.
Source: www.capitalone.com 4
Create a budget
• Making a budget is the first and the most 
important step of money management. It is a 
fairly simple measure and has been used for 
centuries. 
• In order to make a budget, estimate the 
amount of money you will ideally need to 
spend each month based on your income, 
lifestyle, and wants. 
Source: www.iciciprulife.com 5
Save first, spend 
later
• As a rule of thumb, it helps to first save some 
part of your monthly income and then start 
spending your money on regular essentials like 
groceries, rent, electricity, loan repayments, 
insurance premiums, etc. 
Source: www.iciciprulife.com 6
Set financial 
goals
• Having a financial goal allows you to stay 
focused and avoid overspending. So, plan what 
you want to do with your money in the short as 
well as long term. 
• In order to achieve your long-term financial 
goals like your dream house, your child's 
education, retirement and much more you 
must start investing in financial products. 
Source: www.iciciprulife.com 7
Start investing 
early
•  It is advisable to start saving money as early 
in life as you can. This gives you more time to 
grow your wealth, and get back higher returns 
in the longer run. Therefore, aim to start saving 
and investing from your first paycheck.
Source: www.iciciprulife.com 8
Avoid debt
• While taking loans to achieve your life goals is 
a common way, they do come with a fair share 
of problems. The high interest can eat into your 
savings. 
• Taking on multiple loans also affects your credit 
score, thereby making it harder for you to avail 
credit when absolutely necessary or in some 
cases, even a job. 
Source: www.iciciprulife.com 9
Save Early
•  It is important that you start saving as early as 
possible.
Source: www.iciciprulife.com 1
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Ensure 
protection 
against 
emergencies
• It is always advisable to stay financially 
prepared for any kind of uncertainties in life. 
These uncertainties can be in the form of a job 
loss, an accident or an unexpected health 
emergency.
Source: www.iciciprulife.com 1
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