3 Important Tips for Young Professional to Save Money
“In today’s fast paced life where you have young professionals equipped with degrees and go-getter attitude have so many newer avenues to earn a good living, which their parents could have only dreamt of.”
Do you see these young professionals require important tips to save money?
The answer is ‘Yes’.
We could clearly see a cultural shift in their mindset vis-à-vis their parents.
The mindset of today’s generation is ‘Let me live my life and have the best for my family’. There is nothing wrong in living a good life but as life is unpredictable, let’s just imbibe a few good money saving habits which would in planned manner help you reach your financial goals and give you your desired dream life.
That dream life can also be experienced with borrowed money (read easy instant loans, credit card) for quick gratification, but unwise usage takes you down the debt trap and your dream will quickly became a nightmare.
As life throws at us various challenges, the key is to inculcate simple and right saving habits when you are young and building your career as most of us have least responsibility at this juncture, so you have all bases covered for that unfortunate rainy day and are still able to pursue that dream life.
3 Important Tips for Young Professional to Save Money:
- Don’t save after your spend but spend only after you save even if it is as basic as INR 1000 per month, but inculcate that habit
- Save as per your goals you want to achieve – your own marriage, house, car, holiday, higher education, old age retirement, medical expenses
- When you have money in hand, avoid any borrowed money, understand there are no free lunches in the world, so avoid paying your hard earned money in extra interests to banks
These are 3 important tips to start with, as we go forward we shall look at other saving options available for young professionals which not only helps them save but also allows their hard earned money to grow. The whole idea is to allow them to take an informed decision about their finances and money.
Please understand, you have to take control of your finances and in turn your future and goals you want to achieve, no one else can do that for you. At the end it’s your hard earned money and if you don’t take care no one else will.
Next time I shall take you through various investment opportunities available to save money.
If you have any queries / doubts please feel free to get in touch and leave your comments and I shall get back to you soon.
Have come across an interesting read below which i thought should share with you’ll
Kushan P. Shah – twitter