I still remember that first paycheck, nervously asking the HR team if they had my payroll slip thinking at any point, they could just take back the money. No, that’s not how it works. That first paycheck feeling is as good as that first bite in your McDonalds cheeseburger after a big night out (slightly extreme reference here).

What to do with that money is a whole different question…

Making a budget and understanding your costs

Unfortunately as bad as this sounds, you are an adult now, most likely with a few responsibilities. However much you want to buy with your GRADLiFE discounts (guilty plug), the best advice I can give you is making a list of all your costs for the month and understanding what needs to be paid and when it needs to be paid. Make whatever works for you whether that’s a spreadsheet, notepad or just checking your mobile banking app.

Weigh up what you need vs what you want

Without wanting to sound like your parents, you need to weigh up your finances and think about if there is anything you need to buy vs what you want to treat yourself with. Maybe this is a new pair of work shoes, a new laptop case to travel with or any new furniture if you are working from home occasionally.

Saving your money is important, treating yourself is more important.

So this sounds contradictory to what I mentioned above, however, stay with me here. It’s still important to know exactly all your costs and what those priorities are. Saving money is also an important factor, your future self will appreciate this especially when you look to buy your first house in the future or when it’s Christmas and you’re now at that age where you need to buy presents for everyone (what a bore).

However, remember to treat yourself as well, whether that be new clothing or that TV you always wanted. Always remember that you live to work not work to live. You have all your life to save money, so make sure you live whilst you’re young.