My First Salary!! What Next?

The contentment achieved on receiving the first salary is unrivaled and damn hard to express. After completing years of education and hard-work, you finally have a job which offers you the ripe fruit in return of the seeds you had been sowing in form of your dedication for past 20 years. Boosting your self-confidence and opening gates of development, your first job sounds like the best thing that happened in your life. Heading to a better lifestyle it is obvious and justified that exhilarating feelings will be following your path.

Read more
Get ₹1 Cr. Life Cover at just ₹449/month*
No medical checkup required
Save more with upto 10% discount
Covers COVID-19
Tax Benefit
Upto Rs. 46800
Life Cover Till Age
99 Years
8 Lakh+
Happy Customers
*Tax benefit is subject to changes in tax laws. *Standard T&C Apply
** Discount is offered by the insurance company as approved by IRDAI for the product under File & Use guidelines
Get ₹1 Cr. Life Cover at just ₹449/month*
No medical checkup required
Save more with upto 10% discount
Covers COVID-19
+91
View plans
Please wait. We Are Processing..
Get Updates on WhatsApp
By clicking on "View plans" you agree to our Privacy Policy and Terms of use

You surely stand on cloud nine when you receive your first salary cheque irrespective of the amount. And, with this amazing beginning comes the responsibility to build a prosperous life. Palaces are not constructed in a day but with a regular addition of bricks you can construct any great structure. Now you need to analyze various parameters and decide on how to go about with the utilization of money you received after working so hard.

Financial Planning – Now that you have entered the world of self-dependents, it is time to stay prepared for facing numerous situations like getting locked in debt trap or loss of huge funds. The delight of having money in your hand will surely splurge you in some unplanned shopping which might sound exciting now, but worthless in the long run. The time requires you to monitor your expenses for smart savings and progressive future. You need to set some target and follow them religiously to have a happening today and a secured tomorrow.

Combating Contingency- Emergencies can knock at your door without sending any prior notification, thus it is necessary to have a secured lifestyle for which it is advised to purchase term plan and health insurance policy, irrespective of the fact that your employer might have just offered you such a policy. Accidental death benefit and critical illness plans are few riders which you should opt for in order to provide your dependents a feeling of independency in your absences. Investing at a young age can keep you away from financial burden because the premium paid at this age is quite low.  

Time to Invest – At this age you should go for different kinds of investment options as risk taking easily gets a place in your priority list. It might be sounding too early, but planning for your retirement funds can turn out to be a great step towards investment later on.EPF, SIP, ULIPs are few of the great avenues of investment and multiply your money into a giant money house.

Without having a second thought towards financial nirvana, most of us might have spent our salary thinking the amount is too less or it’s too early to start-up with anything. We must never get deviated from the real goal of our life to experience a happy tomorrow.  

Types of Term Plans

Life insurance articles

Recent Articles
Popular Articles
What happens if you stop paying life insurance premiums?

03 Jun 2022

Buying the best life insurance plan is a wise and learned...
Read more
Postal life Insurance Tax Benefits

26 May 2022

Postal Life Insurance is the oldest life insurer in the country...
Read more
How to Download PLI Statement Online?

24 May 2022

PLI or Postal Life Insurance was an initiative originally...
Read more
Is Life Insurance an Investment?

24 May 2022

The thumb rule to building wealth is to invest your money in...
Read more
Proposer In Insurance

24 May 2022

To read an insurance policy document properly, you need to know...
Read more
How to Check LIC Policy Status, Details, Statement via Online/SMS/Call
Last year, Mr. Rajiv Verma bought a Child LIC policy to provide financial security for his kid's future. However...
Read more
How to Cancel SBI Life Insurance Policy?
As per the Insurance Regulatory and Development Authority, you can cancel a life insurance policy taken within 15...
Read more
PLI Santosh Maturity Calculator
Maturity calculators have proven to be one of the simple tools for digital-savvy insurance buyers. Postal Life...
Read more
SBI Life Insurance 50,000 per year Plan for 5 Years
Life insurance is not only about the financial protection of the family but also about working for life’s...
Read more
Surrender Value in Insurance
Have you bought a life insurance policy which is not as per your requirement? Are you planning to terminate the...
Read more
top
View Plans
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL