thefemaleprofessional.com

12 Money Management Ideas for Your First Job

Whether you’re starting your first job, or switching to a new one, it’s important to understand your paycheck and know what to expect. 

Money Management 101

First things first, what shows up on your paycheck: – Your pretax pay – Federal and state income taxes – Medicare and social security deductions – Any health insurance payments

1 – Set Up Direct Deposit

This way you never lose a check, or forget to deposit one.

When You Sign On To Your New Job

Terrain Map

2 – Match Your Employers Retirement Contribution

If your employer has a “match” meaning whatever you contribute they match that same amount, then do it and maximize the contribution.

3 – Understand Your Coverage

White Bag

Hopefully, your job gives you health insurance, dental and vision coverage. Understand your options and choose what’s best for you and your family.

Once You Get Your Paycheck

4 – Understand Your Expenses

One of the most important money management tips is to figure out what your monthly take-home pay is.

For More Info Visit The Female Professional

Other stories

How To Easily Save Money For The Things That Matter Most

How to Stop Spending Money You Don’t Have