5 things that one should do as soon as they start earning
1. Create an emergency fund
The day you receive your first salary, gradually start building your emergency fund. Ideally, you can save 6 to 9 months of your expenses in a fixed deposit or liquid funds
2. Buy health insurance
I understand that you must have your employer's insurance, but get yourself and your loved personal health insurance as early as possible
Get a pure term life policy (10–15x your income) for dependents. Buying early helps with locking in the lower premium.
3. Buy term insurance
4. Start paying off your debt
If you have any debt, then one of the most important things that you should do, along with the ones mentioned above, is to start clearing your debt. Start by paying of high interest debt like credit card dues.
5. Start a SIP
The best way to start taking control of your finances is by investing. Along with paying off debt, start a SIP, no matter what the amount is, and your future self will thank you for this.
6. Consult a qualified financial advisor
To get your finances in place, consider having a fee-only qualified financial advisor to help you out.