From Student to Full-Time Employee: How to Manage Your New Income:

paycheckScoring your first full-time job is definitely an exciting experience. The thought of making an income, especially if you’ve been a student for what feels like an eternity, is very thrilling! While your salary may seem like a reward that should be taken advantage of, it isn’t the smartest idea to impulsively spend your hard-earned money. Here are some tips for new employees on how to manage your finances:

Pay off your debt:

It’s important to get your high interest debt under control (this includes any credit loans you’ve racked up as well as your student debt). Before you start saving for the items on your wish list, take charge of dealing with the loans that are costing you money every month.

Start Tracking:

The best way to build for your future is to understand your weekly and monthly spending habits. Doing this will allow you to be aware of where your income is going and in turn help you figure out where you can more easily save. There are plenty of online tools available to make this task easier, so there’s no reason you shouldn’t be monitoring your money.

Build up your funds:

This step is vital, in case you lose your job or are faced with unexpected expenses. Once you’ve figured out how much money you need every month to live comfortably (rent, utilities, cable/phone/Internet, transportation, food, clothing, entertainment), you’ll be more prepared when life throws you a curve ball. Make sure you have three to six months’ worth of money in your fund so that no matter what happens, you’ll be able to live stress-free for the short term.


It’s tempting to spend your first paycheck on a night out with your buddies or on a new wardrobe, but it’s not wise in the long run. Learn to differentiate between your “wants” and your “needs” and you will be on the road to financial stability!