I know a boy, in his 20s, he makes ₹25L annually.
That's much higher than the average package.
Despite this, he's still under financial stress.
Why? Because he doesn't know how to manage it.
He manages to spend every penny. In fact more than that through credit cards.
I explained to him the concept of putting yourself first.
I always emphasize Paying Yourself First, and then on expenses.
Saving before spending on monthly expenses and purchases.
This concept is a reverse budgeting strategy that helps in building your wealth.
The savings can further be bifurcated into emergency funds, insurance, investments, etc.
Finance is an integral part of our lives.
Start Paying Yourself First and take care of your financial priorities.
Are you saving and investing your money?
1) Yes I do both
2) Just saving in the bank
3) Ehh, not doing it yet