<p>For freshers entering the workforce, earning a salary feels like freedom. After years of depending on family support, that first pay cheque is a milestone. But earning money is only the beginning. The real skill — and one that will shape your wellbeing for years to come — is learning to manage it. Building a healthy relationship with money early on can make an enormous difference. The habits you build early will shape your future relationship with money.</p>.<p>Research shows that money is the biggest cause of stress. During a recent corporate training session on well-being, when we asked what participants could do to improve their sense of well-being, the first respondent said he would pay off all his loans!</p>.<p>People tend to underestimate how deeply money concerns affect their life. Financial well-being is closely tied to mental health, sense of security and even sleep. It can trigger anxiety, disrupt sleep and make it harder to concentrate at work because of a constant sense of uncertainty. Lack of sleep then affects judgment and decision-making — including financial decisions. This can become a vicious cycle: money worries disturb sleep, poor sleep leads to worse choices, and those choices create more financial stress. This cycle can impact productivity, relationships and overall health. </p>.<p>That is why managing money is not just a financial skill; it is a well-being skill.</p>.<p><strong>It’s all in the mindset</strong></p>.<p>Financial stress is common, but manageable. Many young professionals assume that managing money requires complex calculations or expertise. However, the most influential factor in financial behaviour is psychology.</p>.<p>Our attitude toward money is often shaped by our “money scripts” — the unconscious beliefs that influence how we earn, spend and save.</p>.<p>Some people avoid thinking about money altogether. Others believe more income will solve their problems. Some associate spending with status, while others become extremely cautious with money.</p>.<p>Understanding your own money mindset is a powerful first step. When you become aware of your patterns — whether it is impulse spending, avoiding bank statements or constantly comparing your lifestyle to others — you can begin to change them.</p>.<p><strong>Face your finances, don’t avoid them</strong></p>.<p>A common response to financial anxiety is avoidance. People stop checking their accounts, ignore bills or delay conversations about money because they feel embarrassed or overwhelmed. This almost always makes it worse.</p>.<p>Taking control begins with understanding where your money goes. Review your bank accounts, credit card statements and monthly expenses. You may discover small spending habits that add up quickly — subscriptions you rarely use, frequent food deliveries or impulse online purchases.</p>.<p>Once you have clarity, you can start making intentional choices.</p>.<p><strong>Needs, wants and conscious spending</strong></p>.<p>A useful framework for managing money is separating needs from wants.</p>.<p>Needs are essential expenses such as rent, groceries, utilities and transportation. Without them, your basic well-being is affected. Wants are everything else — the nice-to-have purchases that make life enjoyable but are not necessary.</p>.<p>This does not mean you need to eliminate all your fun discretionary spending. Instead, it helps you prioritise what truly matters. Perhaps the gym membership supports your mental health and is worth keeping. Maybe the daily Rs 300 coffee or spending on a designer bag or T-shirt can be reduced. Maybe taking a loan on an appreciating asset is okay, but not on a depreciating asset or a lifestyle consumable like a phone or a holiday.</p>.<p>The goal is not perfection but awareness.</p>.<p><strong>Build a simple spending plan</strong></p>.<p>Many people dislike the word “budget,” but a spending plan is simply a way of giving your money direction.</p>.<p>A basic plan should include five key categories:</p>.<p>• Fixed expenses: rent, loan repayments or insurance</p>.<p>• Flexible expenses: groceries, utilities and transport</p>.<p>• Unexpected expenses: medical or family emergencies, or sudden repairs</p>.<p>• Lifestyle spending: dining out, shopping or entertainment</p>.<p>• Savings: future goals and financial security</p>.<p>Even small amounts set aside regularly - paying a little extra towards a loan or adding a small sum to savings each month - can gradually reduce financial stress.</p>.<p>Remember, progress matters more than perfection.</p>.<p><strong>Watch emotional spending</strong></p>.<p>Do you spend more when you are tired, stressed or frustrated? After a difficult day at work, it can feel comforting to click “buy now” or treat yourself to something expensive.</p>.<p>While occasional treats are normal, emotional spending can quickly undermine your financial goals. So, pause before any purchase to ask yourself: Do I need it? Can I afford it? Will I use it? Is it worth it?</p>.<p>Often, that short moment of reflection is enough to prevent impulse spending.</p>.<p><strong>Talk about money</strong></p>.<p>Money remains one of the most uncomfortable topics in many social circles. Yet silence increases stress.</p>.<p>Being honest with friends about financial priorities can strengthen relationships. If you are saving for something important, suggest lower-cost activities — a walk, a movie night at home or a picnic instead of an expensive dinner. You might be surprised to find others feel the same pressure but were hesitant to say so. And in the current age of social media, where every outing and every meal gets a mention, it is very easy to fall into the trap of seeing these expenses as “needs” rather than “wants”. Having the right kind of visibility on social media can feel like a “need”.</p>.<p><strong>Small decisions, big impact</strong></p>.<p>Financial well-being comes from small, consistent decisions: tracking spending, cancelling unnecessary subscriptions, setting goals and making mindful purchases.</p>.<p>Your first paycheck is more than income — it is an opportunity and gives you choices. With the right mindset and habits, you can build not only financial stability but also greater peace of mind.</p>.<p>Managing money well is not just about wealth. It is about well-being! And the one easy hack for my financial well-being is staying away from designer labels!</p>.<p><br><em>(The author is a counsellor and wellness coach)</em></p>
<p>For freshers entering the workforce, earning a salary feels like freedom. After years of depending on family support, that first pay cheque is a milestone. But earning money is only the beginning. The real skill — and one that will shape your wellbeing for years to come — is learning to manage it. Building a healthy relationship with money early on can make an enormous difference. The habits you build early will shape your future relationship with money.</p>.<p>Research shows that money is the biggest cause of stress. During a recent corporate training session on well-being, when we asked what participants could do to improve their sense of well-being, the first respondent said he would pay off all his loans!</p>.<p>People tend to underestimate how deeply money concerns affect their life. Financial well-being is closely tied to mental health, sense of security and even sleep. It can trigger anxiety, disrupt sleep and make it harder to concentrate at work because of a constant sense of uncertainty. Lack of sleep then affects judgment and decision-making — including financial decisions. This can become a vicious cycle: money worries disturb sleep, poor sleep leads to worse choices, and those choices create more financial stress. This cycle can impact productivity, relationships and overall health. </p>.<p>That is why managing money is not just a financial skill; it is a well-being skill.</p>.<p><strong>It’s all in the mindset</strong></p>.<p>Financial stress is common, but manageable. Many young professionals assume that managing money requires complex calculations or expertise. However, the most influential factor in financial behaviour is psychology.</p>.<p>Our attitude toward money is often shaped by our “money scripts” — the unconscious beliefs that influence how we earn, spend and save.</p>.<p>Some people avoid thinking about money altogether. Others believe more income will solve their problems. Some associate spending with status, while others become extremely cautious with money.</p>.<p>Understanding your own money mindset is a powerful first step. When you become aware of your patterns — whether it is impulse spending, avoiding bank statements or constantly comparing your lifestyle to others — you can begin to change them.</p>.<p><strong>Face your finances, don’t avoid them</strong></p>.<p>A common response to financial anxiety is avoidance. People stop checking their accounts, ignore bills or delay conversations about money because they feel embarrassed or overwhelmed. This almost always makes it worse.</p>.<p>Taking control begins with understanding where your money goes. Review your bank accounts, credit card statements and monthly expenses. You may discover small spending habits that add up quickly — subscriptions you rarely use, frequent food deliveries or impulse online purchases.</p>.<p>Once you have clarity, you can start making intentional choices.</p>.<p><strong>Needs, wants and conscious spending</strong></p>.<p>A useful framework for managing money is separating needs from wants.</p>.<p>Needs are essential expenses such as rent, groceries, utilities and transportation. Without them, your basic well-being is affected. Wants are everything else — the nice-to-have purchases that make life enjoyable but are not necessary.</p>.<p>This does not mean you need to eliminate all your fun discretionary spending. Instead, it helps you prioritise what truly matters. Perhaps the gym membership supports your mental health and is worth keeping. Maybe the daily Rs 300 coffee or spending on a designer bag or T-shirt can be reduced. Maybe taking a loan on an appreciating asset is okay, but not on a depreciating asset or a lifestyle consumable like a phone or a holiday.</p>.<p>The goal is not perfection but awareness.</p>.<p><strong>Build a simple spending plan</strong></p>.<p>Many people dislike the word “budget,” but a spending plan is simply a way of giving your money direction.</p>.<p>A basic plan should include five key categories:</p>.<p>• Fixed expenses: rent, loan repayments or insurance</p>.<p>• Flexible expenses: groceries, utilities and transport</p>.<p>• Unexpected expenses: medical or family emergencies, or sudden repairs</p>.<p>• Lifestyle spending: dining out, shopping or entertainment</p>.<p>• Savings: future goals and financial security</p>.<p>Even small amounts set aside regularly - paying a little extra towards a loan or adding a small sum to savings each month - can gradually reduce financial stress.</p>.<p>Remember, progress matters more than perfection.</p>.<p><strong>Watch emotional spending</strong></p>.<p>Do you spend more when you are tired, stressed or frustrated? After a difficult day at work, it can feel comforting to click “buy now” or treat yourself to something expensive.</p>.<p>While occasional treats are normal, emotional spending can quickly undermine your financial goals. So, pause before any purchase to ask yourself: Do I need it? Can I afford it? Will I use it? Is it worth it?</p>.<p>Often, that short moment of reflection is enough to prevent impulse spending.</p>.<p><strong>Talk about money</strong></p>.<p>Money remains one of the most uncomfortable topics in many social circles. Yet silence increases stress.</p>.<p>Being honest with friends about financial priorities can strengthen relationships. If you are saving for something important, suggest lower-cost activities — a walk, a movie night at home or a picnic instead of an expensive dinner. You might be surprised to find others feel the same pressure but were hesitant to say so. And in the current age of social media, where every outing and every meal gets a mention, it is very easy to fall into the trap of seeing these expenses as “needs” rather than “wants”. Having the right kind of visibility on social media can feel like a “need”.</p>.<p><strong>Small decisions, big impact</strong></p>.<p>Financial well-being comes from small, consistent decisions: tracking spending, cancelling unnecessary subscriptions, setting goals and making mindful purchases.</p>.<p>Your first paycheck is more than income — it is an opportunity and gives you choices. With the right mindset and habits, you can build not only financial stability but also greater peace of mind.</p>.<p>Managing money well is not just about wealth. It is about well-being! And the one easy hack for my financial well-being is staying away from designer labels!</p>.<p><br><em>(The author is a counsellor and wellness coach)</em></p>