Financial management is not a  course that you only take in university. It’s a necessary skill to handle life in the 21st century. It’s essential to gain control over your finances if you want to start saving. Let’s go over the basics to get started. First, you need to open 3 separate bank accounts. One for savings, one for emergencies, and one last one for a college fund for your children. Transfer 20% of your salary to the savings account and 10% to the other two accounts. Pay yourself first. Treat these as expenses and set up a direct debit so each month the sums go off your bank account. Next, live a simple life. Nothing is a bargain unless you actually need that specific product. Control your mind and don’t give in to your temptations to buy the latest version of all gadgets or to follow the latest fashion. Finally, learn to invest in stocks, bonds and equity papers. Long-term, your quality of life will depend on how much you invested and how well you understood the stock market. Become an expert!