i. Save and invest 10% of your gross salary for retirement

Pay 10% of your gross income towards your retirement plan. It’s tax deductible, which decreases the amount of tax you pay on your salary.

ii. Create a budget

List all your income and expenses and subtract your income from your expenses. Save 10% of your net income in a savings account for emergencies. Open up a savings account and make sure you save 10% of your net income every month. This is your emergency fund.

Note: when you create your budget you should align your expenditure with your vision for your future. Eg: if your goal is to move up the career ladder, then part of your budget should be allocated to studies.