How should I spend this first salary?

This is a question that everyone has thought about, and it may also be the pain that many "workers" have experienced.

For example: After paying the rent, there is nothing left.

For example: The salary is not much, and there is no chance of having a good meal with friends.

Another example: I bought a bag and asked my mother to sponsor some... Young people's first income is generally not high, and any expense in life may consume the entire salary.

If you don’t want this money to be consumed quietly, what other ways can you use to get a longer-term return on this money?

1. Saving Saving money is a very important thing for everyone.

Don't just spend it casually if you have little money. Saving is a process of accumulating less and making more. All wealth must be accumulated.

Saving is the first step for many people to achieve financial freedom. It is the most basic and important stage.

No matter who wants to realize the passive income of "money begets money", they need the blessing of principal, and savings are accumulating principal.

Many people’s “first pot of gold” is saved by themselves.

The order of saving money is very important. Many people spend it until the end of the month and save whatever is left. Often there is nothing left every month.

If you change to save first and spend later, salary - fixed savings = disposable funds, you may find that it has no impact on your life, but the account balance is slowly increasing.

For young people who have just entered society and received their first income, they might as well start with 10% of their income.

In addition to bank deposits, monetary fund products with lower risks are also a good place to save money. The key is to develop the habit of "only getting in, not getting out".

Article Picture 1 2. If your self-investment income is not high, you need to plan carefully where to spend your money. Don’t just spend it on food and drink. You can prioritize spending money on things in your wish list that can help improve your own advantages.

For example, learn a course, take a certificate, or buy a computer or mobile phone that can improve work efficiency.

Courses can provide more choices and preparation for future careers; certificates can improve one's competitiveness in an industry in the future. In some industries, certificates are directly linked to income; good office equipment can make one's job easier.

Getting twice the result with half the effort may seem like a waste of money in the moment, but in the long run, it can help individuals improve their earning power and increase their own value.

Of course, one month's balance may not be enough, and it will take a period of time to accumulate.

Since conditions do not allow for cutting expenditures, then spend money where it can be used to increase revenue.

3. Insurance The purpose of insurance is to transfer the financial losses caused by risks and protect the already sluggish money bag.

With huge work pressure and endless nights, young people don't know whether tomorrow or the accident will come first, and they don't know when the disease will break out.

Even a well-off family that seems to be living a good life may be dragged down by any accident, illness, or medical expenses.

Therefore, the less financially capable you are, the more necessary it is to provide yourself with insurance.