1. Set aside a significant amount for savings right away
. If money tends to slip through your fingers, opt for a so-called “locked” account, such as a home savings plan—it’s better to have savings that earn a low return than no savings at all.
2. Keep up your student habits (at least for a while)
—don’t fall for the “anything is possible” hype. Stick to your student lifestyle for a few months. If you’re lucky enough to stay with family at a “friend’s rent” rate for a few months, you’ll easily build up your emergency fund. Call it the “fuck off fund.”
3. If your wages are low, stand up for your rights:
. People with low incomes are entitled to a savings product that offers a higher rate of return than the Livret A and the Livret de Développement Durable et Solidaire. Even if you earn a very small wage, you may still be eligible for housing assistance—be sure to apply for it.
4. Think about taxes
: You’ll pay very little in taxes the first year. When you get your first raise, log in to your tax account to report the income. That way, the amount you owe will be deducted right away, and you’ll avoid a massive back-tax bill eighteen months later that could wipe out all your savings.
inspired by Start Echoes