Most people once they graduated and found a job, they often spend more. It’s understandable since they usually hired as an entry level position and the adjustment period will just take over. Some maybe are not lucky enough to find one and end up being jobless for so long. So here’s the things that ones must do for them not to be left of.
1. Plan your Budget. Regardless of how little your salary is, you should learn to divide it to your priorities. Make a list of the things you prioritized and weigh it according to what you really need.
2. Pay for yourself. Paying yourself doesn’t mean you need to do it every single month. It’s better if you separate the expenses that you’ll use to avoid compromising your savings.
3. Keep a track of your expenses. Keeping a track of your cash in and cash out will give you the idea of how you can minimize your spending. Having that also can help you to determine where do your salary goes more.
4. Have an emergency fund. Saving a portion of your salary for emergency fund can help you to secure yourself in any financial challenges you’ll face. It’s for your security purposes also to prevent compromising other of your savings.
5. Invest as early as possible. if you think investing only requires large sum of money, well you’re mistaken. A lot of investment company nowadays provides low premium payment that you can also pay monthly, quarterly, semi annually and annually. Investing early also means an early returns. Mostly the investment time takes 10 years, so if you start having an investment at your 20’s, your money will mature at your 30’s.
6. Get an insurance. Some of the investment has an insurance. if you wanted to have investment plus insurance you can choose of different investment companies that offers that. Having an insurance also gives your family a sense of security no matter what will happen to you (Accidents, Death etc.).
7. Settle your debts. Before everything else, you need to settle your debts to avoid conflicts in your savings. Having a debt free life also gives you freedom from drawbacks.
8. Invest in a skill. Knowing that you’re only in an entry level position now, make time on investing a skill that will be profitable in your future. Learn to attend seminars that you’ll surely learn something from it.
9. Make connections. In any field, it’s very important to establish connections. Knowing your just started, recommendations will help you to boost your career and it also determines your competency.
10. Be acknowledge. Don’t be just an employee, be an active one. Learn to be known, because that’s the only time they can acknowledge you. So rather than going at work for salary, have a great time to be acknowledge, you can do that by means of volunteering HR related activities for staffs, be a representative and be referred by your clients/guests.
Not all will come up with all the ideas stated. But no matter what stage you are in your life right now, you still have a chance to do it. Remember there are no such thing as late in planning your life, there will always be a chance for everyone. It’s a matter of grabbing it or just letting it go. So what’s your choice?
