Increasing inflation decreasing our purchasing capacity day by day. We are facing  dramatically economic crisis due to unrest between Russia and Ukraine and other reasons which increases oil prices an other prices. However our income sources and level are similar and reduced in some cases. In this scenario personal financial management plays vital role to overcome such worst scenario. We have to develop personal financial management skills for this we should consult finance experts. It does not only protects us from worst scenario but also assist to wealth creation and reach financial freedom. Some are basic points that helps you to manage your money efficiently

1. Increase the row of income: People are only depend upon one single source of income(Salary or Business) which often not reliable. As we diversified our investment portfolio, we have to diversify our income sources like investment, freelancing, and side business etc.  If one sources do not give proper return other sectors will assist to covers.
2. Budgeting: How budget are important for nations and corporation as much as it is important for personal context as well. It is estimated plan of income and expenses. We have to categorized our need on the basis of its necessity. Some needs like basic need billing are unavoidable but try to catch out discount offered. As much as possible try to save some money but without compromising quality life
3. Investment made habit not compulsion: Saving the money is not sufficient steps to financial management for increased in price level which reduces our value of money(inflation). We need some risk premium to cover inflation. We always try to allocate some extent of money for investment from our saving.
4. Purchases Insurance Policy: Insurance policy protects us from contingencies and big cash outlay that miserably damage our financial condition. It works through  diversification.
5. Stay at Sufficient Cash and Bank Balance: According to JM Keynes holding cash  is for three purpose transaction precautionary and speculation. If we maintained sufficient cash balance you fulfill our transaction motives without withdrawing investment and some time it also provides great opportunity to investment when assets prices are undervalued.
6. Reduce Unnecessary Fees and Expenses: Small Amount of bills can loose huge amount in long term. Unnecessary Debit card and credit card fee,  internet banking fees, and  subscription often wasted your money. Instead of expensed in such fees if we invest in SIP or other Recurring plant it gives reasonable benefit in future.