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Manage Your Monetary Risks While Working With Start-Up

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Manage Your Monetary Risks While Working with Start-up
Working with start-up is no stranger to risk. Being an employee of a start-up you become a different breed who chose a different path. Choosing to work with a start-up is an add-on to stress from work and uncertainty. Steep targets increases your stress factors. Here we are with some tips to help you get up from financial stress

Avoid loans


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Start-ups may pay better than industry standard salaries. This doesn't mean that you are suddenly ready to afford the home or car you have always wanted. A start-up comes with higher than average reward as well as risk for all those who work for it. You salary may increase or it may even decrease depending on how your start-up ends up performing.

Expenses

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Credit cards can be dangerous illusions. What you consider a deferred payment, can actually become a heap of high interest debt, if left unpaid.  Ensure that your credit card bill does not exceed 30% of your take home pay every month. When your salary is certain, only then credit card expenses can be certain too. In a start-up this is a key rule to follow.

Savings

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An Emergency Fund can act like your parachute. Whether working at a start-up or otherwise, you must be in the habit of saving some percentage of your salary. A good figure is 20%.

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