The Best Spending of your First Salary

Spend salaryThe best time of the month is here! The efforts have paid off! Congratulations for your first salary! But hey! Don’t get to spending it like a spendthrift. After all it took you hours of toiling under the sun, travelling to get daily to the office, and a lot more. So here are three golden rules to make the spending of your first salary memorable. Read on:

Plan beforehand:

When you join your first job to receive a salary at the end of the month, every loved one including you yourself knows that this will be your first salary. And at least few would expect a party or a celebration while parents would expect savings while siblings or cousins may expect little gifts. So to avoid spending all the money in one go, plan the party and people and everything before-hand. This way you ensure that there are only simple surprises for your loved ones and you and no shocks of having spent it all. Also don’t make it too grand or too low, it must serve the purpose and you along with your loved ones should have a gala time.

Divide your amount:

A basic step is to divide your amount in three parts- party, savings, spending. Apart from these key things, nothing can make your spending more memorable. It is only your loved ones, your future self and your present self who require it the most of your first paycheck. So decide patiently on how much you would want to spend for each of them. The amount need not to be distributed equally but definitely a bit more inclined towards savings.

  • Party time: Do search for party hacks, tips and ways to spend your first salary. This will give you more ideas. Don’t get emotional while giving party as this is just your warm gesture to celebrate and share the great moment with others. Not everybody thinks this way and also you know how much pains did it take to earn this much amount.

Your party time must also include some sort of charity or social work that will give you inner joy, peace and satisfaction of contribution.

  • Next is the lookout for options for saving a certain amount from your salary. Make sure that you begin to save early and try to indulging in options of investing. Since your salary would be a regular one, a SIP should be a feasible option to invest. Be aware of the formalities involved.
  • Get down to things you wish to gift yourself for this little achievement. You could gift yourself a luxurious meal, a thing you have had always longed for or anything that buying for yourself would make you happy. Gift yourself something that will outlast your life and keep reminding of the first salary and the good times spent then.

Write, click and feel the magic:

When your celebration of the first salary is done, sit down with all the pictures you clicked capturing everybody’s expressions and looks. Sit down to write all the day’s experiences and make memories.

So spending your first salary is a blessing and a moment to celebrate. Do make memories and have a gala time!

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