You are young and healthy. You want to splurge on the latest mobile phone, an expensive watch or a large screen TV. Saving is not your priority and financial planning is not on the top of your mind. Well, the biggest mistake most youngsters, like me, make is not talk about their finances and investments. Remember the more you delay things, the more you will have to save monthly later on. For example, if you are 20 and want Rs.5 crore by the time you are 60, you will have to save just Rs 4,207 a month for the next 40 years, assuming the rate of return is 12 per cent. If you are 25 then you will have to almost double your savings, ie, Rs. 7,698 every month for the next 35 years. It is, therefore, important to understand the need of saving regularly from the beginning. Here are a few tips on how you can manage your finances better.