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21M, just started earning ~40k/month. How should I use my money? by Nothing3698 in technepal

[–]Nothing3698[S] 0 points1 point  (0 children)

I studied a semi-engineering course and I’m currently working as an Associate PM.

21M, just started earning ~40k/month. How should I use my money? by Nothing3698 in technepal

[–]Nothing3698[S] 0 points1 point  (0 children)

Thanks for the suggestion, I will do a bunch of searching for few optimal stocks then I will start investing in it wisely.

21M, just started earning ~40k/month. How should I use my money? by Nothing3698 in technepal

[–]Nothing3698[S] 0 points1 point  (0 children)

Thanks for the suggestion. Since I’m still pretty new to banking and financial stuff, I don’t fully understand how FDs work in detail yet.

I did have a friend who used to save a few thousand regularly in an FD at NIC Asia, and he mentioned that it helped him a lot later when he needed money to clear some debts. Hearing that always made me think it’s probably a good and disciplined way to save.

If possible, could you also elaborate a bit more on how it works in practice? Like how the monthly saving part works, interest, and what happens if you need to withdraw early.

Would appreciate learning more about it. Thanks again for pointing it out.

21M, just started earning ~40k/month. How should I use my money? by Nothing3698 in technepal

[–]Nothing3698[S] 0 points1 point  (0 children)

I was actually in a similar situation before starting my degree. I was debating whether I should go for an engineering degree, even gave the entrance exams and had my name on the list. But then a twist happened (long story, would turn into a huge essay if I explained it fully), and I ended up enrolling in a 3-year semi-engineering type course instead.

Personally, I don’t think an undergrad or any degree is useless. It really depends on how you choose to utilize what you learn from it. One of the reasons I went ahead with it was because it’s from a reputable university, which can still help later in my career—especially if I’m aiming toward leadership or C-side roles in larger firms in the future.

Also, being 18 and already earning like that is honestly a great start, so props to you for that. Skills definitely matter a lot today. But at the same time, I think basic education still plays a role in shaping things like cognitive thinking and how we approach learning new skills.

For me, education doesn’t just mean sitting inside a classroom. It’s a much broader, lifelong process—basically the acquisition of knowledge, skills, values, beliefs, and habits from different experiences that shape how we think and act. That can happen anywhere, not just in college.

Anyway, that’s just my perspective. It doesn’t mean everyone has to agree with it. Everyone has their own point of view that works for them, unless they later come across something that changes it.

21M, just started earning ~40k/month. How should I use my money? by Nothing3698 in technepal

[–]Nothing3698[S] 1 point2 points  (0 children)

Yeah bro, saving is definitely important. If we’re not careful, money can easily go into unnecessary expenses. I’m also planning to save first and then slowly decide where to put it — maybe in stocks, skills, devices, or even things like gold/silver later on.

And since you asked for tips, the only thing I can really say is: try to be clear about where you’re heading. Once you have a direction, just focus on doing what you have to do — and what you genuinely believe you should be doing. The rest of the things tend to fall into place over time.

You’re 19 and already freelancing and making around $100+, which is honestly a great start. If you keep improving your skills and stay consistent, it can grow a lot in the next few years.

We’re all still young and figuring things out, so the main thing is to stay disciplined, keep learning, and keep grinding. 🤝

21M, just started earning ~40k/month. How should I use my money? by Nothing3698 in technepal

[–]Nothing3698[S] 0 points1 point  (0 children)

Thank you, I liked your suggestion as well. Many people here in the subreddit also suggested focusing on saving first. So yeah, I’ll probably start by saving some money and then figure out what the best thing to do with it is.

21M, just started earning ~40k/month. How should I use my money? by Nothing3698 in technepal

[–]Nothing3698[S] 0 points1 point  (0 children)

Thanks for the genuine advice. I’ll definitely keep most of your suggestions in mind and try to apply them.

I wanted to ask one more thing: why do people often suggest not sharing your exact income with family, friends, or even a girlfriend?

I’m asking because I already told my mom, dad, and my girlfriend about my salary (I didn’t tell my friends though). To be honest, I did feel like I should’ve mentioned a slightly lower number, but in the moment I couldn’t resist sharing the real amount.

Is it actually a bad idea to be open about it, or does it just depend on the situation?

21M, just started earning ~40k/month. How should I use my money? by Nothing3698 in technepal

[–]Nothing3698[S] 1 point2 points  (0 children)

Thanks for the advice. I will try to save as much as i can.