4. Avoid Lifestyle Inflation

There is another crucial step in planning your finances, post finding a better paying job. You must not get carried away with the additional income and go on a spending spree. Though over-spending is a very likely habit in the early days, try and not make it a habit, else your finances will suffer later. If you do wish to escalate your financial lifestyle, increase your savings and retirement amount proportionally too. This way there will be a balance of spending and saving. But never spend more than you earn.