ADVERTISEMENT

How much do you have to make to start saving?

Savings is very important in personal finance.

If you're working at an entry-level, you may want to consider spending your money on some basic needs first before you think about savings.

Some might want to consider working for some months before they start saving.

In any case, saving is very important, and if you have don't have any financial issue to deal with, nothing should stop you from saving immediately after your first salary.

ADVERTISEMENT

However, if you are interested in saving from your first salary, the followings may prevent you from doing so until you get rid of them.

1. Debt

If you are owing friends and family members before you get your first job, it is important you clear the debt before fro the salary before you consider savings.

2. Basic Needs

Having got a new job and you may need to change your wardrobe to step up your appearance and look more presentable.

ADVERTISEMENT

Apart from this, you may also have to consider getting your own apartment and other basic needs before you start saving for other important goals.

These two are financial goals in their own right and once you settle your debt and meet those basic needs, you should be able to focus your attention more on saving for bigger goals.

ALSO READ:

However, it is difficult to say certain amount has to be in your account before you start saving. If you don't have financial issues, save. the sooner you start the better.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

Items & services you will pay twice the normal price for during the rainy season

Items & services you will pay twice the normal price for during the rainy season

Experience Moët Hennessy with some of the best drink Vendors in Nigeria

Experience Moët Hennessy with some of the best drink Vendors in Nigeria

What panic attacks are and how to deal with them

What panic attacks are and how to deal with them

Here are 4 reasons men and women communicate differently — these can cause problems

Here are 4 reasons men and women communicate differently — these can cause problems

More reasons Muslim women wear Hijab beyond religious observance

More reasons Muslim women wear Hijab beyond religious observance

10 most peaceful countries to live in

10 most peaceful countries to live in

Are you self-confident or are you a narcissist? Here are 5 ways to tell

Are you self-confident or are you a narcissist? Here are 5 ways to tell

What are the differences between Bipolar I and Bipolar II?

What are the differences between Bipolar I and Bipolar II?

Here’s how broccoli can help you reach your weight loss goals

Here’s how broccoli can help you reach your weight loss goals

Top 5 least visited countries in the world

Top 5 least visited countries in the world

Can coffee help your sex life? The truth about caffeine and erectile dysfunction

Can coffee help your sex life? The truth about caffeine and erectile dysfunction

Top 5 most expensive paintings ever sold

Top 5 most expensive paintings ever sold

ADVERTISEMENT
ADVERTISEMENT