With uncertainty behind every coming financial quarter, it is wise to begin planning for your future early into your life. There are many ways to responsibly save, such as using cash deposits, term accounts, investment products, or a combination of all of these.
In general, it is better to start the process as early as possible, and although it may be difficult towards the beginning of your fully independent adult life, it is certainly possible to begin fresh out of university.
Using a mixture of the tools stated above and some unstated, you will be able to figure out your perfect balance of saving and spending. This type of planning is in no way glamorous, but it will lead you down a financially stable path.
In order to be prepared for the future, it is your best interest to attempt to save around 20-30% of your overall salary each year in order to uphold a similar to same standard of living throughout your retired life.
Putting this type of cash away can be extremely difficult. …