What should you do with your salary?
Here is my Bucket List…
Have you ever thought of what are you doing with your salary or what you have to do once you start to earn?
If you don't fall under either of the categories, skipping this article would be a great choice I guess.
The rest c’mon let's have a great read here.
1. Invest 15% in Dividend Stocks
If you’re a beginner to stock investments, find a good friend or a mentor who has enough experience to make your initial investments. Later, you will become mature enough to invest by yourself.
Investing in Dividend Stocks gives consistent returns every quarter or a half every year. It turns into a passive income in the long run.
2. Keep 30% in Emergency Fund
The emergency fund should be kept in a safe zone until you are safe from unexpected crises. It will be useful in times of medical expense, naturally caused expenses such as flood recovery, etc.
3. Save 10% for traveling
Traveling is not just a thing to be enjoyed during vacations, but it has something a lot more that could be realized from the inside.
Travelling teaches you various lessons from “How you think?” to “How to think?”. You can observe the lifestyle and culture of different people on your way, realize how big this world is and even it had made to stop worrying over small things when there are huge things to be happy about.
4. Have 30% for Needs and Necessities
This part is unavoidable as it has its hands on our daily living. But here we misunderstand a few things by thinking the luxuries as basic needs.
That should be taken care of with consciousness to avoid unneeded necessities.
5. Spend 15% on Leisure or Entertainment
They are the positive driving factors of our lives to lead a motivated and happy fulfilling life. Many people think that these are unnecessary expenses and try to save these too. But, they are not aware of their mental health.
When you are planning to lead a healthy life from both physical and mental ends, you have to feed your inner feel and by giving it some pleasure regularly. Hence, we are spending 15% of our salary on that purpose.
