Right now, you may not have control over the economy but one thing you can control is your spending. So many people live on credit and, you shouldn't be a part of them. If you don't save money, you're most likely building a future filled with debt. The best time to start saving money is Now! When you have some money saved, it usually covers up for you. Money is meant to be spent but you shouldn't spend all that money. Since you have decided to start saving, here are a few ways to manage your finances. Keep track of your spending. If you know where your money is going it will be easier to make changes if you need to. Keep records on the things you pay for. Separate wants from needs. Do you really need that 42-inch flat screen television? When money is tight it should not be spent unless absolutely necessary. Make sure you buy things you need and cut down on things you want. Avoid using credit to pay your bills. While it may make things easier now, using credit only increases your monthly payments in the future. Save regularly. Have some of your paycheck directly deposited into your savings account or set up an automatic transfer each month from your checking to your savings account. Check your insurance policies. Review the coverage for all your plans. You may have too much and be wasting money or too little and not be adequately covered. Be careful about spending a significant amount of money on periodic purchases, like gifts and vacation. While you may feel good while you are spending the money, you may wish you had the money later. Cut or downgrade your services. Can you get a cheaper cable package or have no cable at all? If you have a cell phone consider cutting your land line. Try lowering your energy bill. Turn off appliances and lights when they are not needed. Purchase energy-efficient light-bulbs. When you can, use a fan instead of air conditioning or put on a sweater instead of turning on the heat. Consider signing up for online bill payment. Not only will you save on stamps, but you can make sure your payments are received on time. Cut down on take-out ordering. Even if the meal is not expensive, doing it frequently can really add up. A $10 pizza once a week will cost you over $500 a year! Instead, try cooking if you can. I hope all of these works for you.