"Save some for the rainy days" that's a popular quotation handed over for generations. Experience will teach us that there really is a need to save up so we can be ready for any financial problem that may arise. It is also important for parents to teach their kids on how to save money as soon as they recognize it's worth, like if they started asking you to buy something for them or asking for money to buy a toy or candy.

We need to start learning how to handle our personal finances and share whatever we've learned to your kids, husband / wife, friends, etc.

Here are some tips on how you can monitor your personal finances and how to handle them wisely:

First, you need to know where your income will be coming from and how much it will be. Will it be daily, weekly, bi-monthly, etc be coming to you? It's important to know these things as that would be the basis of your personal finances.

Second, list your fixed bills, like rental, mortgages, etc. Those expenses that has to be paid every month needs to be identified so you'll know how much you have to keep from your income.

Third, save before you spend. After knowing what needs to be paid, try to take a percentage from the remainder of your income. Even just a small part will do as you still have to budget the remaining money you have for daily expenses. You can deposit that to your savings account so incase an emergency need will occur, you have something to get. This will be your fund for the "rainy days".

Fourth, budget your daily expenses. Try to divide the remaining money you have after bills and savings to your daily expenses. List all the expenses that you may have like, allowances, food expenses, and other basic things you and your family needs to survive everyday living. It is very important to stick with your budget and don't go over it because, you'll end up getting money from your savings or get a loan.

Fifth, spend wisely. Do not buy things that you do not need. This is important as there are times that we end up having unimportant items on our cart when shopping, therefore exceeding our budget. Be a wise shopper. Compare prices but make sure, that you still check the quality.

Sixth, try to have weekend activities at home or at public parks, instead of going somewhere else, like malls, restaurant, theaters, or travelling outside your city to prevent spending too much. It would be fun to spend time with your family at your own backyard while having barbeque, or watching movies while sitting in your couch and eating popcorn. You can also play indoor games with your kids to add some fun into your weekends.

Seventh, plan your activities for the whole month. It's okay to go out for fun sometimes, but not most of the time as the money you spend for pleasure eats up your budget a lot. If you want to have a date, try to scout a place where it's going to be fun and budget-friendly at the same time. It's really important to pre-plan everything so you can work it out within your budget.

Eight, if you have loans or mortgages that will be paid up soon, don't include that money in your existing budget, but instead, add it to your savings. This will be a preparation to your next step which will be, putting up a business of your own. Remember, our lifestyle adjusts with the money we have on hand, so it's better to put that money you usually use to pay up your loans or mortgages to your savings, so when the time comes that you want to invest on something, you have your fund.

Ninth, take advantage of bundled services or promotions so you can save up on your expenses. One example would be your cellphone services. It would be best to get a bundled service or a family plan instead of getting individual plans for each phones that you and your family have. It's always good to check for offers from one company to another.

Tenth, make a list of all the expenses you've had everyday. You need to have a list where it shows all your expenses and how much you've spent for the day, if you can attach a receipt, then it would be better. This will prevent you from asking yourself before the week ends where your money went, thinking that you have not spent that much. At least, you have an accounting of everything and you'll know where you've overspent. That will also be your basis when making your budget for the following month.