You will never be able start anything if you only think of the present. Will you invest it? Save for emergencies? Buy your own house? List down your long-term goals, wherein you plan ahead as to where to put your finances for, let’s say five, ten, or fifteen years from now. So you the question how you can start now?
This is an example of the beauty of saving early. By the time you reach 40 years old, it will make you P1,000,000 richer! You invest it in a mutual fund that allows you to yield 12.5% interest per annum. Imagine, if you start at 20 years old and you start saving P20 a week or P80 a month or P1,000 a year, for 40 years. Saving should be your top priority, especially as a young professional. It can leave you with nothing, should the time come when you’ll need it. Have you saved anything yet since your first paycheck? Or have you chosen to enjoy it for now, since you believe that you are still young? Do you want to change this habit and begin now instead?ĭeveloping the habit of spending ALL your income is not healthy.
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