It’s hard to live a life of continuously paying off debt (hello, credit cards!) or having to fear that your hard-earned savings are never enough—that’s why it’s essential to practice good money habits while you’re still young. Here are some tips when it comes to handling money and how you can make it work for you.

Always save as much as you can.

You’ve probably heard of the Pinay who saved P42,000 with only P50 bills—you can do it, too! You just have to find a saving plan that works for you or your budget. If P50 is too much, you can even start with P20.

Don’t live beyond your means.

It’s actually common sense, but some people still push their limits when it comes to spending. If you’re finding it difficult to save up, why not put your money in an account without a debit card? This way, you’d have to go to the bank to withdraw rather than easily swiping your card to make a purchase.

Stay away from “get rich quick” schemes.

Tempting as it sounds, these kinds of things are risky and may even make you lose money instead of actually gaining. Be careful of people who are “too friendly” or “too interested” in making you supposedly “rich” since they could have hidden motives that would only benefit themselves.

Study the businesses you plan to enter very well.

Putting up a business is never easy and before you can even reap the income, you’ve got to sow the capital; so it’s important to strategize first before you shell out money for a plan that’s half-baked.

Only get a loan if there’s a need for it.

As much as possible, don’t borrow money from the bank or anyone unless you strongly need it. If it’s something that can wait, like a car or a travel loan, save up for it instead since bank rates can seriously be overwhelming.

Use your credit card wisely.

One tip when it comes to having a credit card: only spend what you can afford because after swiping your plastic, you still have to pay for your purchase at the end of the month. If you know that you won’t have enough money to pay for it, don’t even bother using your credit card. You wouldn’t want to be in a mountain of debt, right?

Reach out to a mentor or a financial coach.

If you think your spending habits are getting way out of hand, maybe it’s time to seek a mentor or an expert who can help you. He or she can show you how much you’re really spending or where you can place an investment that’s worthwhile. AXA Philippines has experienced financial coaches who can help you determine your needs and create a tailor made investment plan that’s right for you. Visit http://po.st/BeFinanciallyFree to get started.

This article originally appeared on Female Network.

Minor edits have been made by the Content Lab editors.