In this article we are going to talk about the what should i do with my first salary. The first salary plays a very important role in our lives. It makes us feel financially independent and gives us the realization of our responsibilities. It gives you the feeling of being grown up. Now you no more have to ask your parents for their money to fulfill your wishes. As important as it is to earn your very first salary is it important to you to spend it wisely.
You will continue to earn in your life ever after your first salary but the feeling of happiness you get after your first salary is what you won’t get after any other. You should make sure that you don’t spend your first salary or even your money in a way that would make you regret it later. Spend your first salary to make it as memorable as it was to earn it. One should always spend their income in a way it gives them satisfaction and no regrets. Do anything that makes you and your loved ones happy. Below listed the other few ideas you could follow to spend your income.
What should I do With My First Salary?
Here are 10 things you could do with your first salary :
1. Offer to God
It is often said that everything is a blessing of God. So accordingly, You should offer your first salary to god and then think about how you can consume the rest. Offering your first salary to God is a sign you indicate to god as you respect them and are grateful to God for everything they have given you.
The practice of being thankful to God or anyone makes you grow yourself within you. If you belong to a religious family or background this is also the first thing you’ll be asked to do or would want to do. It is a way of thanking God for blessing you with that salary and paying of your hard work.
Click Here: Best Career Advice
2. Buy gifts for your parents and family
Whenever you receive your first salary you should always buy gifts for the people who have been with you in all the ups and downs even when you are about to give up they state strong for you motivating you not to give up.
With your first salary you should buy gifts for your family especially your parents who stood by you no matter what. Gifts don’t have to be expensive just some small gifts that are enough to put a smile on their faces and make them proud of you. Gifting something or anything to your family members is a gesture you do to thank them for staying by your side helping you grow.
Click Here: Best websites to buy Gifts online
3. Treat your friends and siblings
When you receive your first salary you can either treat your friends and siblings. Just take them out for a meal and see their faces glow whether happiness or if they live miles away just send them a gift also.
They are also the ones who believed in you and motivated you to become who you are today. Friends play a very important role in your life as they are your go-to people whenever in need. They’re always happy and enlighten to know about your success your or success story and the hard work you did to achieve it. They are equally responsible as much as your family for your success.
As they are the people who stood by you and believed in you even when nobody else did. When you take your siblings out for a day of fun it increases the closeness of your Bond and the smile on their faces would give you immense pleasure and happiness.
Click Here: Best website for Restaurant Reviews
Your first salary is the first income of your life. You can always invest your money. Invest through any source whether in a share market or gold or anywhere you trust.
With the first salary, you should always save a certain amount of money for future expenses. As none of the problems inform beforehand so you should always be ready and well equipped to face any difficulty that comes ahead of you. Their savings would help you then to get through those times.
Read Also: What are the benefits of depositing money in Bank?
5. Pamper yourself
When you have your own money in your hands the feeling that you get is beyond the world. It is your hard-earned money that you worked for.
When spending your first salary you should not spend the entire amount for the people you care about gifts can be sent later on with your second or maybe third salary but initially, the first thing that you should do with your first salary is pampering yourself buy things you ever wanted or things that make you happy. You should spend that money wisely so that even it finishes you should have the feeling of satisfaction with yourself. Just do whatever you want whatever you need or whatever you feel like so that you have no regrets later on.
You have your whole life to spend that money on the people you care about but as time passes by you will realize your responsibilities and stop spending money on yourself. So spending your first salary on yourself is just worth it.
Read Also: How to get fair and glowing skin naturally at home in 7 days?
You should always use your first salary for a good cause. You can do so by donating some amount from your first salary to the charity or spending the money to buy things for the poor and needy and then donate it to them.
Helping people to live their lives happily and in a better way is one of the best things you could do with your first salary. By donating you get the feeling of improving others life that gives you a satisfaction that you did your part for now.
Donating your money to the charity or for the poor is not the only way to donate the money you can also donate it for orphanages for old age homes or even for the needy animals who die every day because of Hunger or any illness or you can donate it to some NGOs as well.
Donation is just away of doing your part as per your will and helping others. The amount of donation does not matter what matters is that you are helping and improving others lives. The people you help might not know you but it would always pray for you and your goodwill, also so you will have their blessings forever.
Read Also: Why do you need a Credit card?
7. Pay off your dues
Along with your first salary comes a feeling of being financially independent and that feeling is is much more than what you can imagine.
No matter what the amount of your salary is the first thing that initially comes to your mind when you have the money in your hand is to pay off your dues. You should always payoff of the dues you have with your first salary so that you can enjoy with the salaries that come next. Paying off your dues also gives your feeling of being free of your long pending responsibilities. It does not matter whether it is you who had those use or your family, being financially independent makes you equally responsible for your dues.
Whatever the amount due maybe you should just initiate into the process of completing it because completing it should be your first and foremost target so that you no longer have to live with the burden of finishing at.
Read Also: 10 Characteristics of a Successful Entrepreneur
8. Go on a trip
You’ve always seen others going on trips at exotic places with their friends, family or even solo. People always post pictures of their trips on social media which makes us jealous and we wish if we could also go and enjoy as they do. This may be your chance to do so. You can go to your favorite places with your favorite people on your own money. The another idea is that You could spend your vacations and salary in a way that would make you happy. You can live the moments and create memories. And the best part here would be that you wouldn’t have to ask for money from your parents or relatives but get the pleasure of traveling on your own money.
Read Also: How to plan a road trip on a low budget?
9. Learn something new
Learn something you enjoy, something you always wanted to learn. Like anything such as dance guitar any instrument calligraphy or anything of your interest. Learn something that you always wanted but had a hitch asking for it thinking it might not be pocket friendly or you might not be able to afford it but now as you are financially independent you can pursue your dreams and learn anything you always dreamt about and make it come true.
Learning something new is of no harm where is it might help you to improve your resume and also increase your skills and maybe your main benefit from it later on. For example: if you decide to learn something new such as a language which can help you later on in your life and make you open to other opportunities and in the future as well.
Read Also: What are the most important things to learn in life?
With your first salary, you should invest some amount of your income in insurance. Whether it be life insurance or health insurance.
Insurance these days is very important as nothing is certain in this generation.
Nothing can be better than investing the first earnings of your life in the form of insurance which would not only cover your amount paid on health damages but also if matures would give interest in addition to your investment. It might not be your first choice to invest your first salary in insurance but is equally important. Investing your money in insurance never means to invest the whole amount of your income as insurance but a part of which who provide you financial security. You can always utilize the rest of the amount to fulfill your wishes and do the rest you want but investing a part even a small one can be beneficial for your future.