You Got the Job, Now Take Care of Your Finances | Cleveland Bradley County Teachers Federal Credit Union

You have landed your first teaching job, and the world is yours! You are going to have everything you ever dreamed about in your younger years: the house, the car and an endless snack budget.

Your first job is a big deal, and while you should treat yourself to some well-deserved lifestyle upgrades, you should also make some financial choices that will help you secure a future.

As you take the next step into adulthood, spend time creating a budget and start planning for every additional step you will take as you journey through life.

The First Steps

One of the first places you should start when it comes to dealing with your finances is creating accounts that best suit your needs. If you don’t already have one, a checking account will be necessary for setting up direct deposit, which is a great way to ensure you avoid bank fees from your account dropping low.

Create a budget that breaks down your monthly expenses and consider splitting your direct deposit to immediately put money into a savings account. Even a few dollars out of each paycheck will make a big difference long-term.

Check into the retirement options your new job offers, and invest in one. If you are hesitant to see your paycheck drained into so many different sources instead of heading into your pocket, find out if your employer offers a matching amount and initially stick with the lowest amount to meet it.

You can also talk with your bank about other options you can start on your own. It is never too early to start saving for retirement, and every little bit you can put away will mean a more secure future.

Stick With It

Once you have distributed your money and have established your budget, the next best step you can take is to stick with it. If you find the budget you created isn’t working or has become too much of a hassle to keep up with, make a different one. The right budget is the budget you use.

As you get more comfortable in your new role at work and grasp a better hold on your finances at home, start working on paying down any debts. If you went to school and walked away with a degree full of joyful debt, establish a monthly payment and prioritize paying it down. Check with your employer to see if they offer any student loan assistance as another way to help.

While your glow-up might not feel complete without some shiny new toys, skip jumping into big expenses for a while. Keep driving the faithful car that got you this far, and stick with a smaller living space. There is always room for growth, and saving now means you can have all things fancy later.

Congrats on your first job, or your first promotion into the rest of your life! Make strong financial choices now and secure a comfortable future full of snacks later.

Want more advice on handling your finances? Contact us to find everything you need.