Building wealth begins with a solid foundation of saving and budgeting. Effective saving involves setting aside a portion of your income regularly, aiming for at least 20% if possible. Establish an emergency fund to cover unexpected expenses, and then focus on saving for long-term goals like retirement or major purchases. Budgeting is the key to ensuring your savings goals are met. Use tools like the 50/30/20 rule, which allocates 50% of your income to needs, 30% to wants, and 20% to savings and debt repayment. Regularly review your budget to adjust for changes in income or expenses, and look for areas where you can cut costs without sacrificing quality of life.