The best way (witch I've read in a book) is to do so:
put aside 10% of your monthly income for paying debts.
put aside other 10 percent for people that are poorer then you are (like homeless people).
put aside 10 percent more for building a capital to be used as an investment (in a business or products... yes, buying a new TV with this money is o.k, that's an investment to).
You may spend the other 70% on whatever you like.
I have tried this method and it gives good results. It may be difficult at first getting used to putting aside 30% of your income and only using the other 70 percent. Nothing good comes easy in life.
Just give it a try and tell me what you think.