With the current economic state the world is in, having a personal income or salary that you can fall back on in dire times, is always a good option. But the fact that the economy is really not faring well, means that the more that you have to learn how to manage your financial resources. 

Smart management of your personal finances means knowing how to plan and manage what you earn, save and spend, taking into consideration the whole needs of the family plus preparation for any sudden expenses in the future. As such, it is imperative that an earning individual will have a good handle on their income and expenses to ensure that the family is well-cushioned in times of need. 

Most people, if not all, are burdened with debt and struggling to bring their finances to order. Such situations can sometimes cause arguments and problems between spouses and the family, putting great strain on the relationship. Discovering how to bring your finances to order and putting your debt under control is the answer. 

Nowadays, especially if you have a family or kids, living through the day is not enough - you also need to learn how to save some money. You may want to check out this link: say no to kids for more info.

One of the ways how you can gain financial independence is by living within your means. In no way does it mean that you have to accept that you will no longer be able to enjoy expensive things, but instead, choosing and spending wisely when it comes to your finances. 

Or you can try to diversify your investments effectively.

One of the methods that most people resort to is by obtaining a savings or a checking account for the whole family, learning how to invest in the stock market, ensuring that all card debts are paid and not just the interest; while others also resort to learning how to start couponing to save money. 

To avoid financial woes, you also need to learn the difference between spending and investing. For it does not necessarily mean that spending is always a bad thing, or that investing is always a good thing. 

Third, knowledge of what proper budgeting is all about is necessary to achieve financial mastery. 

Budgeting allows you to take into account all the funds you have coming in your possession, as well as the mount you have flowing out. Basic ideas like this will allow you to make key decisions that will increase cash flowing into you and decreasing the ones that go out. Check out http://en.wikipedia.org/wiki/Personal_finance for more information.