As an adult, you’re generally expected to have your finances together. You should be responsible, have a plan for the future and all that other stuff. However, if you’ve just started working, you also want to be able to enjoy the money that you’ve worked for. Here are some important financial hacks for finding the right balance.
Make Sure You’re Registered For SSNIT
When you’re a worker in Ghana, you’re required to pay SSNIT (which is usually deducted from your monthly salary and processed by your employer). Your contributions go towards funding your own monthly pension when you’re retired. Although it’s compulsory for your employer to pay your SSNIT, you’ll find that things don’t always work the way that they’re supposed to, meaning that when you land your new job, this is something that you need to talk about with Human Resources.
You Need A Financial Plan
When you’re a student, you can get by without a financial plan because you have your parents, or some other person supporting you financially. After school though, that responsibility becomes your own. Living expenses start building up and it’s hard to save. You need to set financial goals and put plans and budgets in place to reach those goals. Here’s an article that will definitely help you get off to the right start.
Live Within Your Means
As cliché as this is, you need to live within your means if you want to survive on your salary and still try to build yourself financially. When you start receiving a paycheck, it’s tempting to just buy all the things that you want. There’s nothing wrong with treating yourself, but there should be some thought to it. Plan for the things that you enjoy so that when you finally do get them, you feel responsible and guilt-free.