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Salary Credited? 5 of the First Things to Do!

Got salary? Great! Why not make it work for you and earn extra? You can start off by investing in a company FD and deploy other steps too.

There is nothing like receiving a message on your phone saying your first salary has been credited!

In fact, ever since I have started working which was almost eight years back, the salary credit message still gives me a high.

Yes, it never fails to fill me with an unexpected energy to face the world all over again.
The salary is your hard-earned money which has made you self-dependent than on your parents.

However, even though you have the full salary to yourself, you can do some smart things with it to give you much more.

When I received my first salary, I saved for some months and invested in a company fixed deposit (FD) scheme which helped me earn decent returns in the form of FD interest rates.
Want to know more? Let’s explore together the 5 of the things that you can let your salary do!

  1. Plan out efficiently
Now that you are an adult and have some responsibility, it is also your duty to be responsible towards your salary as well! How? Instead of blowing away your 20% of the salary every month on needless online and offline shopping, try to save 20% each month! What will happen? You will have some decent funds created to cover you during the time of emergencies. You still have 80% of it to spend as you like, fair enough?

  1. Pay your debts, if any
I took out an education loan to fund my post-graduation studies. I used some portion of my salary for around 4-5 years to pay off my education loan. You also might have studied on an education loan. Now that you are earning, it is the time to channelize some part of your salary in the right direction to clear debts.

  1. Don’t forget to pamper yourself
While it’s good to use the salary in right directions so that it works back to your advantage, you should also not forget to pamper yourself! Why? It’s because you put 30 days of hard work and follow a strict regime to receive rewards (money). Yes, you can use some money to get yourself a massage done and get rejuvenated to work again with all the force.

  1. Invest in a company fixed deposit scheme
After you have worked for months or years and if you have saved some portion each month, you should be left with a decent saving which you can invest in a fixed deposit.

A company FD investment will help you earn around 8.10% FD interest rates as per your membership status with the lender. You can start investing in a company fixed deposit scheme by putting off only Rs.25,000.

Don’t lose heart if you don’t have Rs.25,000 to invest in FD. You can start investing from only Rs.500 per month in a bank’s recurring deposit for a period as per your wish and earn around 6% interest.

Further, you can also consult a financial advisor and become well-versed with mutual funds, stocks and other similar products to earn more on your money.

    5. Go on a short trip

You have always seen your friends updating their holiday trip pictures and videos on social media sites. It has always made you think when you will undertake such a trip. You can now plan a short trip, thanks to your first salary and get back to work fully rejuvenated.

The Bottom Line

You earn your salary each month, but have you let your salary earn something? Now you know what I mean by saying that, right? Make your salary earn some extra bucks for you by investing in a company FD and earn decent FD interest rates returns.

Take advantage of the above-discussed steps and let your friends also do the same because saving and hard work never goes waste! All the best!

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