First of all, many congratulations to you! You have completed your college successfully and got a great job! Life is going to be different now. Here are a few things that you would need to plan for, as you make this transition. This list will help you do your financial planning as you start your job. 


Bachelor’s life is over. Now you are working, you are earning. You need a home! Selecting a house for rent is not easy. You need to consider few important things – location, property and roommates. You should explore nestaway for saving on the deposit amount. Also use your company’s forum to get recommendation of flats. Overall you should not be paying more than 20% of your take home on rent. 


How are you going to reach to your office. If office has a cab facility, your week days are sorted. What about the weekends? You can get a bike or a car depending upon your salary and aspirations. If you want to delay buying, download uber and pool. Bike would cost you around 40 rs/day where as uberpool around 120 plus 1 hour of extra wait and travel time.


You may decide to keep a cook or eat outside. Keeping a cook would help you reduce expenses and guilt of eating out. Make sure you set rules for who is buying the groceries. A normal homemade meal would cost around 60 rs whereas outside would cost 150. You can save 3000 rs a month. 


The job life is not fun without parties. Corporate parties, birthday parties and soon bachelor parties. Its important to attend few parties. Choose wisely and be prepared for spending. To keep things on track, whenever you splurge, keep aside (invest) equal amount so that you don’t feel guilty while spending and have enough money for bigger things like – buying a bike, going on a trip etc. 


New phone, laptop, chromecast…the list will just increase. Look for deals online and offline to purchase these gadgets. 


Your travel is bound to increase once you start working. You will make at least 2 trips to your home town and 1 trip with friends. Keep a separate budget for travel so that it doesn’t hurt your routine and you can enjoy your vacation. 


You might have spent your college life in 2 pair of jeans and a couple of T-shirts. But when you start corporate life, it should change. You will need good clothes and footwear. Ask your HR about the culture in the company and buy accordingly. Don’t buy too many too soon and look for sales in Myntra or if you prefer offline – Lifestyle. 

Education loan

If you have taken loan you must by paying installments also. Keep the money aside from your salary for loan repayment. If you don’t have loan, you should start an SIP or active saving plan with new generation advisors such as Groww. 


Declare the investments, house rent, education loan etc. as soon as possible. It will give you higher cash in hand right from the beginning, instead of giving lump sum in the month of February next year. 

The list may look long, but most of these are one time efforts. Once set, you don’t need to worry about money. Just enjoy your work and make new friends!