Step 1. Get Health Insurance for yourself and your family. Also, if you have any dependents, get a life insurance term plan i.e. one without any money back (similar to how you insure your car).

Step 2. Save first. Then spend what is left. You should aim to save at least 30-40% of your salary/income. Also build an emergency cash fund enough to cover at least 6 months of living expenses.

Step 3. Goal-based investing: Start investing now for your long term goals like retirement and providing for your child’s education or marriage.