Entering a new chapter in life, the transition from being a student to working adult is not easy. However, the most exciting part of working is getting the first paycheck. Whether we put it in our savings account for safe-keeping, invest, or use it to pay for rent, the feeling of getting the first paycheck is priceless. Usually how people spend their first paycheck depends on the lifestyle and goals they lead in life. However, If you are not sure how to spend your first paycheck, here are five things you can splurge on:
Delicious food is subjective to people, and we spent our money on food everyday. However, once in a while, there is no harm rewarding yourself with a good lunch or dinner for your hard work for the month. This could be considered as a reward to oneself. Though your expenses will be affected for the first month, it's going to be totally worth it since it could help with relieving your stress and mood.
Spend on the things you love. Be it at a mall or supermarket, getting gifts for ourselves is also therapeutic. There is no harm in spending your paycheck to buy things for your loved ones or friends if that makes you happy. However, do bear in mind if your bank account balance before you do so.
Don’t forget that no matter how much your salary is, you need to settle your monthly bills. That includes the utility bills and renting fee. In case you still have student loans, try to settle the debt by putting a higher amount when you receive your first paycheck. This could reduce your interest rate.
Electronic devices are a necessity in today’s world. You use your phones for everything including while working on the go. Getting your first paycheck is a good time for you to invest in the new devices to get that upgrade in terms of IOS and latest technology to make your life easier. Phones nowadays also allowed you to pay in installment in case you can’t afford to pay one time off.
Being a student, you didn’t have much money to spend to go out with friends. Getting your first paycheck is a perfect time to travel. It could release your stress while having fun! You will also enjoy the memorable experience with your loved ones while at it. However, don’t forget to save some of your money for emergencies. Do you spend your first paycheck on these 5 things? Hopefully it could inspire you to spend wisely.
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