If you depend too much on your salary or undergoing financial disaster, it's a sign that it's about time for you to get control of your finances.

Ask yourself how much money you have coming in. Your monthly salary could not be much of the problem. Most people tend to forget other income such as your second or part-time job, any form of financial support or any miscellaneous cash that tend to be overlooked. Add it up and jot it down.

Establishing a budget could be complicated when it comes to determining how much money you’re spending. Firstly, you have to write down of all your fixed expenses - which would include rent, mortgage payments, car payments, insurance, utilities, cable etc. Then, don't forget to include variable expenses such as food, gas, entertainment etc.

Now you’ve reached the stage of determining where you should cut your expenses. Evaluating which expenses are actual needs versus wants is a quick way to know areas that you may be able to reduce costs.

These modern times, it’s really important to have savings for emergencies. Putting aside an adequate amount of money for savings or emergencies can make a huge difference especially when you’re facing an unexpected job loss or a financial disaster. At least 3 to 6 months’ salary would be an ideal amount that you should have in your emergency fund. If you have not started saving for emergencies, it is always better to begin with a lower amount now than not having at all.

It may not be as easy - but once it works out, it is sure worth the efforts you've put in. If you have a spouse, work together to make sure both parties are responsible for any spending oversights. In case one of you overspends, set certain rules to make sure proper control takes place.