finance, life

How to save in your 20’s?!!

“An investment in knowledge pays the best interest.”

                                                                             – Benjamin Franklin

Earning money is probably one of the most wonderful experiences ever. And indulging yourself with all that you have earned is even better. It is really hard to keep those temptations at bay whenever you step out and start saving up. YES!! All your friends must be partying and buying new clothes and you may be in the fear of missing out (FOMO). So, you end up doing things when you are not okay with it.

Maybe the first two or three months, you can spend your money as you like, of course it is your first salary and you need to taste the fruit of all that hard work you have put in it ( *wink wink*). Maybe, after that start limiting yourself. I started realizing when my dad asked me excluding all my expenses after the first three months, where did the rest of the 60 k go.  I really could not answer nor did I actually know what happened.

So keep a ratio of saving up at least 60% of what you earn if you live with your parents and at least 10% of your income in case you live on your own. 

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When you start saving up or investing, always remember the power of compounding, it was called the eight wonder  of the world by the great Albert Einstein.

So, here are few tips on how to save when you just started earning. 

  • Make separate bank accounts:

Keep two accounts, wherein one of them will be your savings account which would have all the money that you saved up and the other would be your salary account. The money in the savings account should not be touched unless it is an emergency. When you feel you have a lot of money in your salary account, you can transfer it to the other one.

  • Make a budget:

When you know how much you are gonna spend, plan your budget accordingly. Keep a certain amount of money in your wallet and chart it out. Spend only the amount you have originally planned to. This way you will keep a track on it.

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  • Shop only when you really need something

The staple supplies to survive should not be compromised. But are you one of those who goes to the super market to buy two things and end up buying twenty five things?? Think again. Buy only what you actually need. I am addicted to stationery, lipsticks and shoes. The moment I stopped buying them , I actually had a lot of money left in my account.

  • Always wait for a SALE and Happy hours:

When you are gonna go shopping, always check out a sale around you and websites like myntra, flipkart, nykaa etc has a sale too. Keep a track after you create your wishlist and then binge yourself without any guilt.

  • Write down all the expenses: 

Write down everything you spend on a separate notebook and sort it out. Take the help of the internet to organize it. It would appear tedious at the first but you would be used to it soon ( I am trying my best to do it religiously).

  • Pieces that can be used multiple things:

Always take inspiration from various fashion blogs on instagram and wordpress in order to understand how to use a single piece of clothing or accessory can be used a multiple times to put together an ensemble.

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Written by Divya Shankar

image source : https://medium.com/@PiggybankNG/saving-with-a-purpose-understanding-the-why-behind-your-savings-d418c20eab79

 

life

Moving out…

People are strange, when you are stranger,

faces look ugly, when you are alone!!!

                                          – The doors, Jim Morrison

 

I was this person who always was guarded by my over – protective parents, who don’t even let me go to the nearest cafe all alone. Yeah!! One reason I never socialized much. After my job, my dad started trusting the fact that I would be safe and I am old enough to handle things.

Then, I got into my second job, which was really far from where I lived. So in a course of three months, I could not travel much, for which I moved out. My ‘over- protective’ parents finally let me get out of my bubble to juggle. I just stayed in the other part of the city and not an altogether a new city or anything like that.

So, I found a place. The entire house was shared by three of us. The place was only as large as my bedroom in my house. I had to adjust and fit in. I had difficulty to accommodate all my things and of course my books. I did learn to find things amidst a mess. Since the Marina beach was very close by, I didn’t complain much. ( Yeah! I don’t complain even if my living conditions are below average if I live close to a beach).

Okay!! Coming to the bottom line, I got that freedom which was immense, which got difficult to handle. No one actually guided me about what was right and what was wrong. My parents were too conservative to understand certain things. Then My friend’s mom sorted things out in my life. I literally discussed everything that was happening. She was 99.9% right in most of the cases when it came to people.

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Whenever you have a bad time, remember you will get better

What did I learn???

Money matters: 

First things first, when you earn, you need to save up some amount of money. That would help the month end struggle. And of course NEVER lend money to anyone beyond your capacity. If a thousand bucks doesn’t matter to you, you can lend, if the amount of money is going to be higher, rethink your decision. It would spoil your relationship with the person as well.

The new freedom:

The amount of freedom you get can be quite scaring, no one would question you. So you should not be doing things that really look wrong to you. Just don’t do it. You will repent later. Accept the mistake and own it. No one is born with instruction manuals. Learn from it.

Responsibility- the new thingy:

You will be taking your own decisions. That new kind of freedom comes with a lot of responsibility.  Yes!! you will have to do dishes, wash clothes, buy groceries, pay bills, pay for the water.

Exploring : 

As a girl, you gotta be extra cautious about new places. Give a second thought before that exploration. In case you have a lot of time, please go out and chill. Go to all kinds of places- Local eateries, Clubs, Posh hotels, Cafe’s, Heritage buildings, anything you want. Try to know more and make memories!!

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A sketch of an old church in Chennai

New people: 

Your roomies may have different priorities and you will have to adjust. But eventually you will start appreciating the differences. Make new friends and have a social life so that you don’t get into feeling lonely. At least you will have people to celebrate your birthday away from home.

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Reading makes you know the world better and you will be a better person

Make the most out of it: 

Pick a hobby and really get onto it, since you will have a lot of time, you need to be careful with whatever you are doing. Read a lot and keep yourself updated. Try to learn a new form of art. It could be the one on your bucket list.

Watch what you eat:

Try to eat clean and healthy. YEAH!! your body will thank you later. Get fit. Nevertheless, you will eat junk outside, but indeed you will have to balance it. Your parents are not with you to keep an eye on you, so eventually you will end up gorging upon everything you are not supposed to eat. Be dedicated.

Watch what you think and how you feel: 

You need to love yourself, as you do not have your parents around to validate every small thing you do. This is just another stage of life where you are striving to be independent. So do not feel sad or down whenever you feel lonely.

Hangouts : 

If you hangout a lot and you are single, you will be approached by people. Be careful with everything you do. Get to know people more and then take a decision. Never be impulsive when it comes to dating and relationships. Set ground rules for yourselves instead of regretting over what you did during the heat of the moment. Every step matters. And be sane whenever you are taking a decision. It should not be haunting all your life.

Get out of the web: 

DO NOT BE STUCK IN A ROUTINE. DO SOMETHING CONSTRUCTIVELY. Always remember an idle mind is a devil’s workshop. So keep yourself busy while looking for new opportunities.

Observe and Get inspired:

Observe things around you. The world has a lot to offer. You will know how to be contented with everything you ever had. The world is indeed ugly but yeah not all that bad. You may find inspirations from everything possible. Learn to appreciate little things even when you are in a hurry.

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Relax.. you deserve it.. 

Relax :

You will need a break from your routine. So do anything you love. Even a good amount of sleep may help you out.

So that’s all folks!! Thank you reading.. Until next time, have a great day. Happy blogging!!

 

Written by Divya Shankar

Doodles – Mine