Getting paid is by far the best thing about having a job, but once that money goes into your bank account it can be far too easy to just go crazy and spend all that money. However you may not be thankful for this decision later on in life.
So for today’s tip of the day I would advise you to create a savings account for when you get a job.
Personally I have a spreadsheet which contains all the payments going out of my account such as bills and rent, and then I work out how much I have left over and move some of that into a savings account.I do this when I first get paid and then I do it again just before my next pay check.
However if you are moving money into a savings account just after you get paid, make sure you don’t move too much money. And make sure that you can live comfortably for the next month.
I would recommend you doing this, especially if you are saving up for something such as a holiday somewhere. Just be careful not to go overboard and move too much money!
Having a savings account and especially if you are saving up for something in particular can also help keep you motivated if you’re having a stressful time at work.
So create a savings account, and put some money in every now and again, after all every little helps!
And that’s all for me for now, until the next time! Kathryn.