Generally people fall in debt or some sort of situation where in they are facing severe cash crunch with no positive hope from any direction. More often this situation arises when you have not planned and got into a marital relationship.
For the just married, confused (make sure you have a gap of at-least 24 to 36 months between you 1st day at new job to 1st day of married life)
1. When you start earning make sure you spend the first three months of money for whatever you wish and your mind thinks of and which you can afford out of your own income.
2. From the 4th month onwards. set aside a fractional amount of money say 10% (or for that matter 1% of the income for some sought of savings.
3. Now from 4th Month till 7th month spend all the 99% or 90% (depending on what you decided in previous step) of money as you wish.
4. Now the real game starts: from the 8th month onwards set aside 35% of the income strictly to savings.
5. On the 1st day of the married life you would be all the way smiling just looking at the secured state of your financial affairs.
Last but not the least, when you are saving make sure you split it between you, your spouse expenses/pension schemes and on the other hand you child's birth/future expenses.
For the just married, confused (make sure you have a gap of at-least 24 to 36 months between you 1st day at new job to 1st day of married life)
1. When you start earning make sure you spend the first three months of money for whatever you wish and your mind thinks of and which you can afford out of your own income.
2. From the 4th month onwards. set aside a fractional amount of money say 10% (or for that matter 1% of the income for some sought of savings.
3. Now from 4th Month till 7th month spend all the 99% or 90% (depending on what you decided in previous step) of money as you wish.
4. Now the real game starts: from the 8th month onwards set aside 35% of the income strictly to savings.
5. On the 1st day of the married life you would be all the way smiling just looking at the secured state of your financial affairs.
Last but not the least, when you are saving make sure you split it between you, your spouse expenses/pension schemes and on the other hand you child's birth/future expenses.
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