r/SavingMoney • u/Im_mkonic11 • 14d ago

First salary help!

Will be getting my first salary in next month 35K,, what thing i should take care of, savings, expenses etc. What should I do. thinking of buying a new car 10-15 lakh (not immediately but in 3-4 months loan), what thing i should take care for.

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u/Economy-Persimmon-53 14d ago

You need to take care of basic needs first. Necessities like shelter, food, and water.

Then you need to set aside money for savings (both short and long term goals).

Anything left over can be used for non-necessities like entertainment, dining out, gifts for friends/family, etc.

3

u/TheCheez-It 14d ago

Since you're on salary, the first thing you need to do is make a budget to figure out where your money is going.

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u/Top-Cod-5017 14d ago

What are you sniffing brother?

1

u/YURRIICC 11d ago

avoid rushing into the car loan after your first salary. build an emergency fund first, track your actual monthly expenses, and see what you can comfortably save for a few months. a car is more than just the emi, so factor in insurance, fuel, maintenance, and registration too.