12 Money Management Ideas for Professionals

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

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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

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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.

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