Starting a career
Welcome to your career
Your first job in an industry you love is the start of a lot great things, including learning how to manage your finances and help your money grow.
1
2
3
How to negotiate salary
Get to know 401(k)s
Automate your finances
Consider valuable non-monetary compensation like additional time off.
Look through your benefits information and see if your company offers a 401(k); it’s designed to help you save for retirement.
Schedule automatic transfers to savings or retirement accounts. Even if you start small, building the habit pays off over time.
4
5
6
Save for the unexpected
Create a good credit routine
Create a financial plan for your success
A separate emergency fund could help you protect your savings. It should hold enough for 3 to 6 months of essential expenses, like food and rent.
Paying bills on time and in full are two keys to a high credit score. Also important: Apply only for credit you need and avoid maxing out your cards.
Celebrate raises and create a rewarding plan for them. For example: Use your pay bump to save for a down payment on a home.
1
How to negotiate salary
Consider valuable non-monetary compensation like additional time off.
2
Get to know 401(k)s
Look through your benefits information and see if your company offers a 401(k); it’s designed to help you save for retirement.
3
Automate your finances
Schedule automatic transfers to savings or retirement accounts. Even if you start small, building the habit pays off over time.
4
Save for the unexpected
A separate emergency fund could help you protect your savings. It should hold enough for 3 to 6 months of essential expenses, like food and rent.
5
Create a good credit routine
Paying bills on time and in full are two keys to a high credit score. Also important: Apply only for credit you need and avoid maxing out your cards.
6
Create a financial plan for your success
Celebrate raises and create a rewarding plan for them. For example: Use your pay bump to save for a down payment on a home.
of Americans opened their first savings account once they started working
The Financial Literacy 2020 Survey was conducted by Marcus by Goldman Sachs® in March 2020 among 2,516 Americans. Savings accounts defined as savings accounts, certificates of deposit (CDs) and money market accounts.
Would like to see other Money Guides by Life Stage?
Other things that could be helpful to know
2 min read
This article is for informational purposes only and is not a substitute for individualized professional advice. Articles on this site were commissioned and approved by Marcus by Goldman Sachs® but may not reflect the institutional opinions of Goldman Sachs Group, Inc., Goldman Sachs Bank USA or any of their affiliates, subsidiaries or divisions.