Everyone can benefit from saving – even the wealthiest people are probably rich because of smart money decisions, rather than blind luck.

Some tips are mostly common sense, but driven by self-discipline – but others are surprising and focus on areas we often overlook.

The most important, and one that ties in to everything, is simply budgeting properly. As person known as Britain’s smartest shopper, Jennie Hammond told The Mirror ,”You can’t start to get control of your finances if you don’t know what’s coming in and going out.”

This is the basic of any economic or finance focus. Though ideally we’d prefer to have a business and life where what we make exceeds what we spend, sometimes the best we can hope for is just to keep up.

Expenses are numerous and differ between individual people. Yet sometimes earning is our choice – though limited by our skills, abilities and time. So we must tailor our expenses to what we’re earning.

For example, if you’re a student trying to balance studies and earning a small income at a retail store, trying to buy the latest high tech gadgets might not be the best option.

To focus your budget, you need have a handle on this dynamic. You can either choose better options for earnings, cut off or eradicate all unnecessary expenses or make better calculations if those expenses are necessary – for example, for bonds or other kinds of loans.

Using advice from finance expert or even tools like a bond calculator can do wonders to having a handle on our budget.

Another important focus is to avoid a debt spiral. For many, the solution to payment is simply to take credit, to use a debtor of some kind. Yet, as Money Savings Expert highlights, this could lead to a debt spiral:

“You spend more than you earn, you borrow to fill the gap, but more of your income goes into repaying debts… you keep borrowing to maintain a lifestyle.”

We need to better at managing our finances, since mismanagement means disaster.

We’re unable to pay back loans, meaning more fines, which means more expenses. It could mean losing particular aspects of our lifestyle – or even essential access to things like medical care, transportation or homes.