5 Things to Keep in Mind When Starting Your First Job

Excited about your first job? Aside from planning what to wear and how to make a good first impression on your new colleagues, here’s a list of suggestions and things to keep ready, to make sure you have a great start to your professional life! 

1. Ask how you’re going to be paid: Ask your employer if they have a tie-up with a particular bank where you are required to open a Salary Account. A conveniently accessible Savings Account is a boon. It has multiple functions - you can receive/transfer your salary and use it later while investing your savings as well.  

2. Plan how you’re going to spend what you’re paid: Along with your Savings Account, get a Debit Card for easy and safe access to your salary. Some Debit Cards come with a useful points/reward scheme as per your spending behaviour. Plan the expenses for which you will use the Debit Card for maximum .

3. Set a budget so you don’t overspend: When you first start earning it’s natural to want to enjoy your monetary freedom and blow it on everything you ever wanted. To mitigate the situation, create a budget, while allowing some luxuries that you want to treat yourself to. Thereafter, track your actual expenses against the fixed budget, so you can keep a check and plan a more realistic budget the following month. 

4. Plan your investments and get insurance: As you start getting a regular monthly inflow of cash, set aside some amount for investments, and spend only what is left after saving. The benefit of starting early is that you will see your wealth grow much more than if you start later. This in turn will help you meet your future goals. Insurance should be a priority. Get both Life and Health Insurance covers to safeguard against any unforeseen circumstances. There are a number of plans from different insurance providers available through HDFC Bank which cover all types of Insurance. Many insurance schemes come with tax benefits as well.  

5. Collect your documents: On your first day, your company might ask you to produce copies of certain documents before they can officially onboard you as an employee. You will be given a list, such as Aadhaar, PAN card, passport-sized photos, college mark sheets, certificates etc. When collecting the documents from your college, approach your professors for letters of recommendation that you might be able to use for future jobs and education.  

On your first day at work, you should receive an official offer letter, a copy of which you must sign and return to your employer. Make sure you file your copy safely.  

Landing a job may sometimes seem easier than gathering your documents (and your courage) to attend your first day at work. Ditch the nervousness as there are plenty of ways to prepare yourself for the big day. Head to the nearest HDFC Bank and, within minutes, you can open a Savings Account with a number of benefits. Once that’s set up and you start saving, you can look into some great insurance options from HDFC Bank like Health Insurance. To help you decide which Health Insurance to buy and what cover to opt for, click here.

To purchase your Health Insurance through your HDFC Bank Account, click here.

Good luck!

Read more on how to purchase Health Insurance in India here.

* The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances.