Tip to Control & Manage Salary

Tip to Control & Manage Salary

Tip to Control & Manage Salary​​ While in College

May 9, 2022

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Author:

RUN Savuth


How do you spend your salary to reach the end of the month?

Here are 3 main questions for students who are interning at a startup company or another company which provides them experience at work space and salary, and asking themselves​ these questions to manage all their salary well and spend it in the right way. 

 

  1. What is the priority to spend? 

It’s really significant to realize the first priority of spending your salary by making a budget and sticking to it. Because when you create a budget based on your monthly new income, the budgeting will help you stay in control of your money and allows you to keep a track on your expenses, especially your first priority to spend on not just spending by your mood and wanting. 

 

  1. What are the dump things to avoid?

Keeping a track on how much unnecessary things you are spending on absolutely helps you to get to know what things you must avoid spending on in order to keep and control your salary safely and reach the end of the month; and furthermore, deducting unnecessary expenses by just not buying unimportant things or eating out often can allow you to save & invest more from your salary.

 

  1. Should you save your salary? If so, why?

Yes, sure you should save it from now on. Not just only saving your money but also investing it, because it has the power to generate more passive income for you in the future. It means that you don’t have to work for money, but the money will be working for you. Anyway, it doesn’t mean that you have to put all your money into investing by just withdrawing your saving money to invest in many ways. Another benefit is that saving money will allow you to enjoy greater security in your life, since having cash set aside for emergencies will let you have a fallback when something unexpected happens.

 

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