Congratulations on your first paycheck! How you handle money in your 20s sets the foundation for your entire financial life. Here's a practical plan.
The 50/30/20 Rule (adapted for Pakistan)
- 50% Needs: Rent, food, utilities, transport, phone bill
- 30% Wants: Dining out, entertainment, gadgets, fashion
- 20% Savings & Investments: This is non-negotiable
Where to Put That 20%
- Month 1-3: Build a Rs. 50K emergency cushion in a savings account
- Month 4-6: Open a mutual fund SIP with just Rs. 500/month
- Month 7+: Explore VPS for tax benefits and long-term growth
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