Set up the plan before the first pay day
List the bills you know about: rent, phone, transport, food and any loans. Add a savings amount, even a small one. Then enter the salary as it arrives and check the money left.
Watch for lifestyle creep
It is easy to raise spending as soon as income rises. Keep your fixed costs steady for the first few months, and move any extra income into savings. This keeps your options open later.
- List known bills before pay day
- Save a fixed amount from the first salary
- Be careful with new loans and instalments
- Review the plan at the end of the first month
Questions people ask
How much should I save from my first salary?
Many people start with a small fixed amount and increase it over time. Read our article on how much to save from salary for ways to pick a target.
Should I buy things on EMI?
Only if the EMI fits your monthly plan with room for savings. Add it as a fixed bill before you decide.
Can budgetbaba help me start?
Yes. Enter your salary, add your bills and see the money left for the month. It is free to use.