4. Save for Emergency

The main problem with youngsters is that they do not realize the importance of saving money for emergencies. They consider that since they are young and energetic they will not have any emergencies to face. This attitude might land you in trouble when something unexpected happens like an accident and job loss etc and you will be penniless to afford the cause.

To protect yourself from such frightful situations, start saving a part of your money for emergencies. Make sure that you will not use this money even if you are in worst financial conditions.

Moreover, as and when your salary increases try to save more money towards emergencies.

5. Look for Renting a Home

Well! This is something that can be done once you start earning. Besides, if you are looking for a rental house make sure that the house is close to your work place so that you can cut down on travelling expenses.

Keep your budget in mind while deciding whether you need a 1bhk, a 2bhk or a larger accommodation. You can also go for group buying scheme where you can share the total cost among the group it can reduce your expenses for rentals, food, and of course entertainment costs!

Also Read:

India's Top 10 Mutual Funds

How to Repay and Save On Home Loans?