Tips for personal finances by Shaikh Shah Wasiullah Allahabadi (Allah have mercy on him) mentioned few principles regarding effectively balancing the personal finance.
Save some amount from your income irrespective of how low your earnings may be. The individual who spends more than his earning is stupid.
Buy the essential goods in cash. Do not stay in debt.
Do not spend the entire cash in hand on expectation of future earnings. This is because of futility of relying on something that is not present or guaranteed. The person who spends on expectations of future earnings becomes involved in debt and poverty.
Protect your earnings from being wasted. It will neither benefit you nor others.
Be responsible for your (financial) affairs yourself. (That is, do not delegate it to others).
Do not buy anything you do not need even if you are getting it at low price. This is because, a useless thing even if it is free is a liability.
Plan for the future. Make sure you are prepared financially if there was any crisis.
Tazkirah e Muslih al Ummat, page, 226-7