9 Money Saving Tips For New Hires

Congratulations – you found a job! Now what?

1. Negotiate your salary

Via tumblr.com

If they want to hire you, be brave and ask for the pay you deserve. Research income averages for employees in your field and move on from there. The trick is to always ask for more in hopes that the employer will meet you somewhere in the middle.

2. Enroll in a retirement program

Via cdn.sneakhype.com

The earlier you start with a 401K, the more you’ll have when you’re old and grey. Trust me – if you want to be happy like this man, look ahead to the future.

3. Pay off your student loans

Via tumblr.com

Now that you’ve graduated, it’s time to pay for that education. Make regular payments as soon as you can, even if it’s just the minimum. This way, you’ll build your credit and eliminate your student debt that much faster.

4. Live somewhere cheap or live at home

Via generationydeology.com

Although it can be tempting, don't sign a lease if you can't afford the rent payments AND your student loans. These days, there's no shame in living at your parents' house right after college.

5. In fact, don’t even buy a car

Via media2.mic.com

If you have a vehicle, keep it. If you need a vehicle, consider buying used. A new car can mean a huge monthly payment you may not be able to afford, so don’t buy a car until you know your budget can handle it.

6. Be cheap

Via tumblr.com

Now that you’re working regularly, you won’t be going out every night. This will be a relief on your sleep schedule and your wallet, but continue to look for other ways to save, like avoiding eating out every night by learning to cook. Little tricks like this can go a long way.

7. Plan your spending

Via tumblr.com

Penciling out a monthly or even a weekly budget will help you stay aware of where your money is going and how much you’re saving. When you budget right, you can eventually make those big purchases, even buy that new car.

8. Don’t go crazy with the credit cards

Via tumblr.com

They’ll be coming in the mail every day, tempting you with low interest rates, but don’t be tricked into opening any accounts if you don’t need to. If you can’t afford it, then you don’t need it. Credit card debt can get out of hand quickly.

9. Start a slush fund

Via tumblr.com

Whether it’s for emergencies or for a rainy day, having a nice cushion of cash stashed away will work wonders on your anxiety levels. You never know when disaster will strike, and it will be nice to know you have the money to cover rent in case your job isn’t as stable as you thought it was.