How To Manage Finance For New Employees With Fresh Graduate Status

Illustration of new employees (Unsplash)

YOGYAKARTA For a fresh graduate, getting the first job is a thrilling thing. Many new experiences will be felt, especially related to finance. Regulating finances during college and when you first become an employee is certainly very different. Therefore knowing how to manage finances for new employees is very necessary.

Each person has their own way of managing the first salary. But what needs to be emphasized here is how to reduce your lifestyle and start managing finances so as not to get stuck in waste. Here's how to manage finances that can be considered.

An important first step is taken after new employees receive their first salary, saving. This is important to do for various reasons, namely to save money and regulate lifestyles.

Saving habits are very good for new employees, even you are advised to force yourself to do this. The reason is, when fresh graduates get a new job, they will experience a fairly large financial transition because they have to start eliminating financial dependence on their parents.

How to save what can be tried is by cutting 3 to 5 percent of the total salary and then placing it in a special account.

After you set aside some of your basic salary for savings, focus on monthly expenses such as meal fees in one month, rental fees, and so on.

Usually a fresh graduate who earns the first salary will be tempted to waste. To avoid this, you must know what expenses should come first.

You are advised to have several savings accounts to place financial posts. For example, you have a special account to save, to live daily life, or an account for other purposes.

If you place all the salaries in one account, it is feared that the money will mix and you don't know how much savings you have or how much expenses have been spent.

If you have a debt, pay it immediately and solve it. Don't ignore the repayment of the debt because it will leave a bad credit record on your behalf of the bank. On the other hand, if you've never owed, keep not to take debts in any form and reason.

As a new employee, of course you never know what will be faced in the future. Having no consumptive debt will greatly save future financial conditions.

Apart from setting aside money to save, you are advised to start investing. You can set aside some of your salary according to your ability. No need to force yourself, but you have to start learning to invest.

For starters, you can choose a safe instrument with a small risk. But if before you were used to investing in instruments at high risk, you could do it.

Planning to have luxury goods or something fun like a vacation is indeed permissible. But to get it you have to get used to saving so that the pleasure is not impulsive. You should try to set aside money for fun purposes. Never take basic savings just for consumptive purposes.

That's information related to how to manage finances for new employees. Visit VOI.ID to get other interesting information.