Mattu & Mittu


Embarking on your career? Here are the 5 Finance Tips to Follow.

  • July 31, 2017
  • rootroot

Finding your first job is a major milestone in everyone’s life. The feeling of financial independence, no matter how small or big your salary, is incomparable. In fact, the first few paychecks almost always go towards the celebration of your new achievement. However, the fact of the matter is that not many think about long term finances at this point in life.

You are young and it’s understandable that you don’t really want to worry about creating a financial portfolio, but trust us, it’s never too early. There are some essential steps that you should take when you embark on your career:

Get a PAN Card

The first thing that you must do is to register for a PAN card. The PAN is a unique identity number that is allotted to all tax payers by the IT department. This number will be required for filing tax returns and for assigning tax liabilities. Receiving salaries or a professional fee, buying or selling assets, opening bank accounts, etc., all need a PAN card.

Enroll for an Aadhaar Card

The Aadhaar is another unique identity that is allotted to individuals. It is a 12 digit alphanumeric code that’s linked to the Aadhaar database. This database carries the individual’s biometric and demographic data. To register for an Aadhaar Card, you will have to provide UIDAI with your personal information including residential address, mobile number, age, photographs, etc.

The fact that an Aadhaar Card serves a lot more than its intended purpose nowadays has made it quite an important document. It is required in a number of services; from getting a passport to meeting the KYC requirements for investments. Also, your Aadhaar and PAN number also need to be linked.

Salary Account

At present, most companies provide zero-balance salary accounts to their employees. However, if that has not happened in your case, you should definitely get one for yourself. There is no requirement of a minimum balance in such bank accounts, and you also get a debit card to make online and PoS (Point of Sale) payments and purchases.

Investment Plan

No matter how modest your salary is, you should start thinking about savings and investments. Investments, even as small as Rs. 500 per month, can yield beneficial amounts in the later run. Also, saving some part of your salary for a rainy day is a must. Start with around 10% of your paycheck, and then increase it later as per your saving capacity.

Health Insurance

You are in the prime of your life and probably would not see health issues as an immediate concern. However, illnesses these days are anything but predictable, and the rising healthcare costs can make for a worrisome scenario if you are unprepared. Unexpected hospitalization can drain all your savings, and in the worst case, put you in debt.

At this juncture of your career, your focus should be on taking valuable job experience instead of bearing unexpected health costs. That is why buying health insurance at the earliest to safeguard yourself is what you should do.

Such is the case of life that a good start sets you up for a strong finish. You are never too young in your career to start thinking about your financial future, so get started on it as soon as you can.

Share on FacebookTweet about this on TwitterShare on LinkedInPin on PinterestShare on Google+

Leave a Reply

Your email address will not be published. Required fields are marked *


We are India's No.1 - Most Trusted Financial Services Brand, according to the Brand Trusted Report, 2017 & 2016 consecutively. We are also the largest Gold Financing Company in India in terms of loan portfolio, according to the 2015 update to the IMaCS Research & Analytics Industry Reports, Gold Loans Market in India, 2015 ("IMaCS Industry Report, (2015 Update)"). We provide personal and business loans secured by gold jewellery, or Gold Loans, primarily to individuals who possess gold jewellery but could not access formal credit within a reasonable time-frame, or to whom credit may not be available at all, to meet unanticipated or other short-term liquidity requirements.

  • 25000


  • 4500+

    Branches spread over 21 states and 4 Union Territories

  • 6 million

    Customers in our portfolio

  • 131 year