Financial literacy Part II

Dearies :)

How's the weekend?

Mine good, homey with the hubby and chilling !!!!

So, let's get to a second explanation of finances.

So, here I was at 20, just out from university and going to a first job. And with no notion of how to draw a budget.

I went into spending nearly all (you know the feeling, youngster with money!!)

Fortunately, my mother coaxed me in a savings plan and along, I took a pension ,and there I was, saving around 15% of my salary.

But I had colleagues who went dancing, eat out nearly every day and I followed them, unaware of the money being spent on things I didn't need or could easily have gone without.

That was me and my first job experience and with money

Morale of the story: I made it to the second job with no additional money in the bank but with savings plans

I'll be off for now and tomorrow you'll get to hear what happens to my financial literacy in job 2.

Tips for youngsters now starting jobs: 

1. Join a savings plan, 

2. Draw a budget of money ins and outs to see where your money is going, 

3. DO NOT indulge in similar spending as colleagues (some of them are getting pocket money from parents even if they working)

4. Try saving at least 25% of your salary if you can; and 

5. More importantly, list down financial goals and look at them everyday.

Cheers

Charlotte