There is nothing quite like earning your first salary and making the transition from being under your parents’ financial covering into your own financial independence. That very excitement quickly subsides when reality kicks in and you realise the amount of responsibility you have, or just how little that first salary actually is. Before you know it, your focus is completely off the big goal of financial wellness to just survival. We think this can be managed and avoided earlier on -from when you earn your first salary.

The first step on your journey to financial wellness should be to understand where you stand.
Understanding net earnings
The amount received in the bank account is not exactly the same as the amount agreed on in the employment contract. Ask for a dummy-payslip when you are discussing your offer of employment. This will help you know exactly what needs to be deducted from your salary, how much you will be able to save and how much you will have to live on.  
The budgeting burden
Many of us remember the ambitiously elaborate dreams we had on how we were going to spend our first salaries and exactly what we were going to spend the next coming salaries on. Sadly, this short-term focus on budgeting is something many struggle to shake. And can contribute negatively to long-term financial wellness.

Read this article on the art of budgeting to understand the factors that keep people from budgeting so that you can face them head-on and make the best choice for your finances.
We strongly encourage you to download the Multiply Money App which consolidates your spend in one complete view so that you know exactly what you are spending on and if you need to change your spending patterns.