Career and your money

Be finance savvy?

  • Save, save, save. There is no better advice that you ever hear from anyone. Whatever you are earning, you should pinch a bit and save it for your rainy days. And do not kid yourself that there will not be rainy days!
  • If your company offers stock to its employee, buy some. It is a good feeling to really be a part of your organization. It will be even better when the profits roll in and you collect.
  • Money is important. However, it is not the MOST important. Remember the difference, and do not weigh everything you do or want in terms of money. Be a willing worker. Money will follow those who are hard-working and sincere.
  • Keep your finances clean. Do not borrow regularly from your colleagues. It portrays you in a very poor light. When you need extra money, try to do overtime, ask your superiors for extra responsibilities so you can earn extra.
  • Do not abuse any type of loans, especially credit cards. Credit Cards spell trouble. If you need to use plastic, use debit cards which work as good as the credit card, but with your own money.
  • Invest in schemes which can bring you security in old age. There are a lot of insurance policies, stick market options and other such avenues where your money can grow into a tidy nest.
  • Avoid giving into temptation of making a fast buck. There are no free lunches in this world. Rather focus on hard work, it will pay you best in the end.
  • Use credit cards only in emergencies. Buying the latest mobile phone or the cute designer label dress, do not come under 'emergency'.
  • Make it a point to know exactly how much your company owes you (and vice-versa). Know the break up of your salary, the tax benefits you are entitled if any. In other words, stay informed on money matters.
  • Be on the constant lookout for better opportunities, more responsibility within the company. Before applying, estimate your ability/ qualifications/ capabilities very critically. You should believe in yourself first, then only you can sell it.