4 financial goals every fresh graduate has and how to achieve them

Transitioning from student life to the professional world can be financially daunting, especially when you’re living paycheck to paycheck. However, developing good financial habits early on can set the foundation for a secure future.

Whether it's saving for a dream vacation or paying off student loans, GOfinance offers tools to help you achieve your goals. Here are some smart savings tips to help you get started:

1. Start saving for that concert or holiday

Everyone deserves a break, and what better way to unwind than by attending your favourite concert or going on a vacation? The key to building your savings is to start as soon as possible. The earlier you begin, the more time your money has to grow.

Use GO+ available in GOfinance to kickstart your savings. It’s a convenient savings tool integrated into your eWallet. Who says you need to have a lot of money to start saving? You can start with as little as RM10, and your balance earns daily interest, making it easier to accumulate funds for your getaway. Set up auto cash-in to ensure a portion of your income is automatically saved, making your dream trip a reality sooner.

2. Settle your PTPTN or student loan

Student loans can feel overwhelming, especially when you’ve just started working. However, with the right strategy, you can manage them effectively:

a. Set a budget: Use GOfinance’s spend tracker to break down your expenses so you can identify areas where you can cut back and save more, allowing you to allocate more towards loan repayments.

b. Set financial goals: Define clear, achievable financial milestones for paying off your loans. With specific goals, you’ll stay motivated and on track.

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3. Build a solid credit history

As a fresh graduate, it’s important to start building your credit history because a good credit history is essential for future financial endeavours, such as buying a car or a home.

Regularly monitor your credit score using GOfinance’s easy access to to services like CTOS. Stay informed about your credit status and work towards maintaining a healthy credit score. It may not seem important to you now, but when you are ready to take on a loan or a credit card, it may be too late to keep your credit record in order.

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4. Protect yourself with insurance

Unexpected events can happen at any time, and not being prepared for them can disrupt your plans. Having the right insurance can provide a safety net and peace of mind.

GOfinance partners with several key insurance providers to offer comprehensive plans tailored to your needs. Pick a plan from Tenang for affordable and straightforward basic coverage without breaking the bank. If you own a car or motorcycle, check out CarInsure and MotoInsure respectively for competitive yet affordable plans.

Bonus tip: Activate GOrewards to earn loyalty points when you purchase a financial product and make payments with your eWallet. Redeem your points for cashback vouchers, discount vouchers, cool products, and even lucky draw entries. It’s all about learning where to save and how to stretch your ringgit.

By leveraging these tools and developing smart financial habits, you can take control of your finances from the very start of your career. Remember, it’s never too early to start saving and planning for a secure financial future.