The earlier one begins to save, the better one learns to manage their finances. In fact, it would be prudent to begin saving from your first job, or your first paid internship. Learning the importance of money management, of investments at a young age can go a long way in cementing your financial inclusion and freedom. Draw out a financial budget Even before you chalk out a financial budget, learn how to budget, learn what it means to have expenses and savings. It’s easy to want to splurge when you’ve just begun to earn because the joy of your first salary is unparalleled. However, try not to splurge every month – reserve that for special occasions. Revisit your budget every month to see where you can make cuts or allow yourself to spend a little more. Listen to financial experts Whether via blogs, podcasts, or videos – keep abreast of the latest developments in the financial markets. Reach out to seniors, family members and friends who’ve tasted success with their investments. Know that you don’t have to do any of this all by yourself. Save up for retirement Yes, you’ve only just entered the job market, and it may certainly feel odd to already begin to think about retirement, but it’s an important step for your own financial security. Adding a portion of your annual income to your PPF is a good start. Work towards building a good credit score A reliable and solid credit score can work wonders for your financial health. And maintaining a consistent score above 750 will ensure that your loans get approved, that you even earn a credit card – those borrowers deem you worthy of funds. Explore the stock market Again, it is advised that you reach out to financial experts, your accountant to get an idea of the shares that are doing well and worth investing in. At the same time, it’s easy to get addicted to and obsessed with stock market machinations. Be wary of that. Set short term and long-term financial goals: When you draw out your budget, you know how much you earn, your expenses, savings etc. But your income may well increase, and your investments may well bear fruit. Therefore, set attainable goals for yourself. Is it your first solo international trip? A degree abroad? A high end bicycle? Your first rental home? When you know you have to earn above a certain bracket to be able to realise your financial goals, your journey becomes easier. Get term insurance, health insurance: We live in post-COVID times, and a lot has changed in terms of how we see the world. Therefore, to ensure that you and your family and loved ones will be looked after, work towards getting a term insurance and health insurance, the latter to also be for your family members. Do this after a thorough research and making certain that you have enough money to cover the deductibles. Build an emergency fund: This is to be distinct from your retirement fund. The emergency fund should be touched when there is a genuine emergency, such as pertaining to health, or to bide some time if you’ve been laid off. You can decide how much to add to this fund as you progress in your career, but for those unforeseen circumstances, an emergency fund can be a blessing.