WHAT TO DO WITH YOUR FIRST SALARY? : PAYDAYLV
Everyone remembers the time when they received their first salary, the feeling can be pretty exhilarating. It doesn’t matter what the amount is, chances are that you will be proud of your first paycheck. But once people receive it, very few people of them know what to actually do with it. Chances are that you will end up spending it on new clothes, phone or a vacation. And before you know it you have spent everything you had, and you are waiting for the next salary to come in. And the process continues like this for years until you realize that something serious needs to be done for the future.
I am not going to tell you to save everything you receive and not to have fun. The proper thing to do is to instill good financial habits since the start. If you spend a lot on food or clothes from the beginning, it can be very hard to control the urge to spend all of your money. Another good thing with learning how to manage your money since the beginning is the high returns you will get on it in the future. Let’s take a look at some of the things you can do with your first paycheck.