7 Interesting & Meaningful Ways to Spend Your Monthly Salary
By: Krunal, Diamond
Published On: June 15, 2022
After working hard for a month, salaried individuals like us always wait for the end of the month or the day on which our salary gets credited into our bank account. That message, ‘Your salary for the month XYZ is credited into account no: 123456789’, gives us an indescribable feeling.
But what after you have received your salary, your hard-earned money? Have you ever thought about how to put your salary to good use? If not, then please read through this article.
Many of us are not aware of how to use our salary, our hard-earned money, in the best possible way. Want to learn the same? Then please continue reading. In this article, you will find seven of the best ways to spend your monthly salary.
Please note that the numbers are just for numbering purposes and do not reflect any preferred way to spend your salary.
Take your parents out for dinner
This might sound a bit emotional, but you certainly should do this. Most often, in our busy schedule, we forget the sacrifices made by our parents in raising us, educating us, and making us a better person. They deserve all the love and happiness in the world, and taking them out for just a small dinner will bring a huge smile on their faces, which you will cherish forever.
Buy that thing you’ve always wanted to
You always strive to keep your family and friends happy, but in doing so, you should never forget about your own happiness. When that salary hits your bank account, go out and buy that one thing that you have longed-for a long time. Taking care of ourselves is equally important. Purchasing things that you love or give you comfort will certainly make you feel better and happier in your life.
Help someone in need
We all know that there are more unprivileged people in this world than privileged ones. If you fall under the second category, then you can certainly help those who don’t have access to basic necessities like food, clothing and shelter. Giving food to a beggar, providing them with shawls during the winter season, etc. are all random acts of kindness. Not only that, you can even help the needy via crowdfunding. Don’t know what it means? Well, you can check it out here. If you do this, it will not only make the poor person happy but also give you inner happiness.
People usually get confused between saving and investing. Even though both are important, there’s a vast difference between the two. While savings refers to money saved in bank accounts/FDs/PPFs, etc., or in the form of contingency funds such as health and life insurance, investment refers to money invested in equity, mutual funds, real estate, or even gold. Ideally, you should save as well as invest in the financial instruments you are comfortable investing in.
Go on a vacation
Well, this is one thing that you should do once in a while. While it’s not practically possible to go on a vacation after every month’s salary, you can at least take one after accumulating a few months’ salary. A vacation on a beach or to the mountains can provide you with a much-needed break from the hustle and bustle of the city and your routine life. It will certainly help you refresh your mind and get back to work with renewed energy.
Show gratitude to those who helped
Many times, in our busy lives, we forget to thank those people who have helped us. These people can be our parents, teachers, neighbours, friends, or relatives. With the help of your salary, you can show gratitude by giving them a nice token of appreciation for all the good things they have done for you. It’s not necessary to buy an expensive gift; even the smallest of gifts will do the trick to make them feel special.
Put aside funds for emergencies
Last but certainly not least, you should always set aside a portion of your salary for emergencies, or in other words, contingency funds. These funds are useful during any kind of emergency, be it health related or if you have unfortunately met with an accident. Doing this ensures that you don’t need to rely on anyone during times of emergency.
Now that you know some of the best ways to spend your salary, what are you waiting for? Start doing what you want to do and fulfil yours as well as others’ dreams and needs.