The feeling when your first salary hits your bank account is unparalleled. Your roaring 20s are exactly like people say they are—it’s your time to experiment, to take risks and to take full advantage of not having too many responsibilities 🙂

Tips for making the most of your 20s financially? We’re glad you asked!

1. YOLO, but it’s never too early 🌅

Does retirement seem so far away that it may not even come? How about large expenses like a home, car, or further education? While these may factor into your short term plans, you must start thinking about the long term, because guess what? The future will come. However, don’t forgo your favourite short-term indulgences for the long term though. Balance it out. Present and future you will thank you!

2. Budget like a boss 💪🏽

Grab a pen and paper, a spreadsheet, or simply use the Basis Power Card. Tell your money where it’s going at the beginning of the month, track your spends, and see how you did at the end of the month. Make budgeting a habit right from your first salary.

3. Set up those SIPs! 💰

Compounding is phenomenal, and the secret ingredient to seeing your money compound is time. Which you have on your side as a young woman. Set up SIPs, even if it’s as low as 500 rupees—and set them up for the beginning of every month. Invest before you spend, and invest as early as possible. When you’re killing it at work, and you grab that big raise, don’t forget to increase your investments too!

4. Go on those dates, and bring up the F word… 🍷

It’s “finance”, of course! But not on the first date though ;) As you feel like you’re getting serious with a partner, don’t forget to assess financial compatibility if you’re looking to take your relationship to the next level. Ask and understand topics like financial goals, their debt situation, any responsibilities, what their career/earning objectives are, and more.

5. Health insurance FTW 🧘🏽‍♀️

Being young is awesome. For those obvious reasons, yes, but also because things like health insurance are cheaper. While health insurance may seem like an unnecessary “expense”, you must get your own individual policy with a decent amount of coverage to protect yourself. Illnesses, accidents, health emergencies always come unannounced. Did we mention premiums are cheaper when you’re younger?!