If you’re just starting your career, budgeting and saving can help you build a strong financial foundation. (Envato Elements pic)PETALING JAYA: Your first pay cheque lands, and suddenly that dinner, a new phone or weekend getaway feels within reach. After years of relying on your parents, earning your own money can be exhilarating.
But once rent, transport and loan repayments enter the picture, that salary can feel surprisingly small. So how do you enjoy it while building a financial footing?
That is where a budget can help: making room for both today’s needs and tomorrow’s goals. Licensed financial planner Rajen Devadason recommends a three-tier structure:
The first tier means “paying yourself first”: setting aside a portion of each pay cheque for savings and investments as soon as it arrives, rather than waiting to see what remains at the end of each month.
