Finance management, at personal level is the headache of many people.  If one has an income, they think of how to better manage it, if they do not have they look for it, either by generating or borrowing. Here are a few interesting tips from Personal Finance that can point you towards making the best out of your financial instances.

i) Budgeting is a critical process which forces you to look at what you're spending, where you're spending it, and thus be able to make informed decision on where changes can be made to meet your financial goals. Using software to track your finances and assets, you will get the added benefit of being able to tie it into budget planning. Chart out all your accounts and determine what online services your bank offers, as this will make it simpler automatically download your regular spending transactions and bill payments, to be integrated with your spending and budget tracking.

ii)Avoid Carrying Too Much Cash On You:- Try to switch your purchase habits to not make purchases with cash. Paying with alternative means like credit cards or even mobile money will help keep an accurate record of where your money is going. This one habit will not only allow you to track and trend your purchases, but also provides invaluable visibility to your purchases. For example, you may discover you spend twice as much eating out at restaurants than you thought.

iii) Saving:- After you adopt the above method, track your finances for several months and then revisit your budget - look at what you are taking in and what you are spending, and compare it to your financial goals. Look for areas where your spending can be reduced and adjust your budget accordingly. At its simplest level, budgeting is easy - you look at what you make, you look at what you're spending, and you look at how much is left over to be put away for the future - if the numbers don't match, it gives you a clearer process to shuffle your income accordingly. For example, some savings you may find are spending less on entertaining, reducing the cost of ownership of a car with a bad maintenance record, or shifting your eating habits to home cooking instead of takeout.

There are different reasons to save, and different approaches depending on what you are trying to achieve. One overall savings goal is to put money away for an unforeseen occurence; anything from health related problems, for repairs to a house or car, or an interruption to employment. Most experts advise to put three months salary away to cushion life's little emergencies.

Another common saving strategy is to target a specific purchase or expense, like a new sofa, or a vacation, and plan your savings around that specific amount. In this case, either put away a set amount every month, or even create a second bank account and divert the savings into that account so it can't be touched, and once you reach the amount, you make the purchase with a clear conscience.

iv) Borrowing:- The best tip about borrowing money is simple: don't. If you think of it this way, your total interest on borrowing amounts to 20% of your normal expenses, so if you avoided paying all that money to interest, it would be like getting an extra 20% raise. However, there are some purchases or situations where you will need to borrow money, and there are always better approaches in how to borrow.

One major tip is to shop around on interest rates. Banks are often very competitive on rates to get customers, so you may be able to drop an interest rate by a percent or more with the cost of spending a few extra minutes or hours talking with a few more banks. Remember - they do want your business and at the end of the end of the day, you are the customer with control over who you do business with. Many banks rely on the consumer feeling intimidated and ‘at the mercy' of the big banks and the dictated terms and rates.

Shop around, ask for advise, go for the best deals and you might find your financial health improve, thereby improving your life in no time.