Pay Yourself

Despite the selfishness this tip may suggest, you will need to think of yourself first if you plan to reach a reasonable level of financial stability. Put simply, your savings need to take precedence over all other spendings in your life. Money should be delivered to your savings account before the rent is paid, the bill for utilities is settled, and any groceries are purchased. 

An employer-sponsored 401K plan is an excellent way to get started with your savings. Your contribution to the plan will be taken directly from your paycheck so you do not have to worry about forgetting to contribute to the plan. Once you train yourself to live only on the money that remains after you fund your savings account each month, you will be well on your way to achieving financial stability.