Want to learn how to manage your first salary? Here are experiences from young professionals on how they spent their first salary.
First experiences can be hard because they are loaded with anxious thoughts about whether you are doing it right. But they also come with gems of lessons. We wanted to know how young professionals spent their first salary and what financial lessons came with it. So we asked some questions. As you reminisce on your own answers, take a look at how these young professionals experienced their first jobs.
BK, Uganda
What was your first job?
I was a Data Clerk during my S6 Vacation in 2012.
How much did you earn doing your first job and how did you spend your first salary?
I received a monthly salary of UGX 400,000. I do not remember what my first purchase was but I think I bought a pair of black moccasins for work and a bag. I also paid for my salon bill for the very first time.
What financial lessons have you learned over time?
Money comes and goes. The more emotionally healthy you are, the better financial decisions you will make. Save before you spend, investment opportunities come as you grow older.
Odongo, Uganda
What was your first job?
I worked as a Driver in 2018.
How much did you earn doing your first job and how did you spend your first salary?
I was earning UGX 100,000 and I purchased a goat using my first salary.
What financial lessons have you learned over time?
If you want to prosper, it's recommended that you focus on investment than saving.
Naomi, Kenya
What was your first job?
I worked as a Security Officer.
How much did you earn doing your first job and how did you manage your first salary?
I remember receiving KSHS. 15,600 and I bought a smartphone from a Safaricom shop.
What financial lessons have you learned over time?
As time goes by, the economy changes; the value of money has decreased as time goes on. l spend more these days to afford food and rent.
Hellen, Kenya
What was your first job?
For my first job, I was an administrator.
How much did you earn doing your first job and how did you manage your first salary?
My first salary was KSHS. 25,000 and I wanted to be independent so I moved out of my parent’s home and started renting my own place.
What financial lessons have you learned over time?
Before you spend one has to earn, you can't spend what you don't have.
Newton, Kenya
What was your first job?
I worked as a Chef in 2019.
How much did you earn doing your first job and how did you manage your first salary?
I earned KSHS. 23,000. When I got my first salary, I gifted my parents KSHS 4,000 each and bought myself a pair is shoes and clothing.
What financial lessons have you learned over time?
Save money to save you tomorrow. Don't spend more than you earn.
Rose
What was your first job?
I was a Social Worker.
How much did you earn doing your first job and how did you manage your first salary?
I was earning USD 150. I gave all the money I earned to my mother as a gift. I wanted to thank her for raising me and paying my school fees up to university single-handedly. She deserved to take all of my salary because she sacrificed so much to keep me in school. Today she is 86 years and I still give her a portion of my salary as a way of showing her my gratitude.
What financial lessons have you learned over time?
Saving is a must and investment is not optional. It's the way to go.
Derrick, Uganda
What was your first job?
I got my first job in 2022 - this year, I am working as an Electrical Engineer for a firm.
How much are you earning doing your first job and how did you manage your first salary?
I earn UGX 1,200,000. I bought a deep freezer using my first paycheck.
What financial lessons have you learned over time?
Save more than you spend.
James, Kenya
What was your first job?
My first job was in 2018 and I was a Clerk.
How much did you earn doing your first job and how did you manage your first salary?
My employer was paying me KSHS. 15,600 and I used it to buy a mattress.
What financial lessons have you learned over time?
No matter how little your income is, always save some little amount. This really helps. Life without savings is useless.
Edwin, Kenya
What was your first job?
I was studying for my Masters in Business Administration.
How much did you earn doing your first job and how did you spend your first salary?
I received a stipend of Kshs. 85,000. I gave out 50% of my pay to my church. The remainder was used to pay off my debtors, shop for my baby, buy a Samsung TV, and a few clothes. I never saved anything that first month.
What financial lessons have you learned over time?
Always save for you don't know what tomorrow holds for us.
Henry, Uganda
What was your first job?
I was a Cook in 2012.
How much did you earn doing your first job and how did you manage your first salary?
I was earning UGX 300,000. I used it to buy a music system.
What financial lessons have you learned over time?
I have learned to have aims of why I am earning, investing, and saving. It keeps me determined.
These answers might help you decide on your career or career transition. And, the first paycheck no matter how small or big is the start of many financial lessons.
We hope you enjoyed reading how our participants spent their first salary. We enjoyed receiving them. Fuzu loves hearing from you so subscribe to our newsletter and maybe we will be reading your answers in our next survey.
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