Common mistakes young professionals make

Common mistakes young professionals make

You’ve just completed your college education and the next thing you know, you are already hunting for a career track job and a place of your own. You want to be at the top of the game now.

You want to do all the right things for your carrier at the right time but if you make a run for it without proper planning, you are inviting troubles which can have long lasting repercussions.

 

Here are some of the common mistakes young professionals make

Good for now, will do the math later

 

You want to take things into you control, making big decisions in a small amount of time. While doing so you tend to forget about the future and go with the flow. You jump on to a conclusion and commit to something for which you don’t have means of sustaining, at least not in the near future since you have just started earning.

The smart way to go about it is to plan and evaluate what are the basic things you need for your new place. Assuming you’ve spent on security deposits and basic furniture, you are left with very little room to indulge.

So run some basic calculations on an excel sheet or you can even use variety of budgeting apps available on your smart phones and evaluate how much you are earning from your current salary and how much you can actually afford to spend in the near future with your current salary. You’ll quickly realise that you need to make some changes to your spending habits in order to save yourself from getting into heavy debts.

So start doing the math right away and save yourself from trouble.

 

Shooting high

 

While budgeting, always keep your current salary as the base rather than putting in the number which you think you might get in future considering the industry practices.

 

No matter what your salary is, you need to plan your spendings based on that. If you do that you might be able to gift yourself a brand new phone or treat yourself, otherwise you’d end up spending that bonus money for paying off your debts.

I know everything

 

Your attitude is your reflection. Young professionals are hungry for success and are always competing to get an edge over their counterparts. While doing so, they must always remember that covering the basics is the first step towards the success.

Don’t be afraid to do some research or ask for help. Read the documents before you sign it and if you don’t understand, stop, ask a friend or a colleague or a mentor who could guide you into right direction.

Always have a habit of asking the questions until you get the answers you are looking for. Be it your first job, your first car or even your first home, do some research, ask some questions and then take the decision.

You will always find a mentor in people who have done these things before. So don’t be shy to seek their help to guide you through the process.


Visit HireCA.com Now