What should you do with that first check? Reward yourself. You deserve a reward for all the classes you took, the interviews you sweated through, the uncomfortable tie or pumps you wore for your first day at work - all the things you had to force yourself through to get where you are today.

Paycheck Direct Deposit

This one’s easy. It’s so easy, it’s hard to believe there are people who don’t do it. If your employer offers direct deposit of your check, you fill out a short form, hand over a voided check from your account so the payroll department can gather the correct routing numbers, and then sit back and wait for the money to appear in your account. It’s that easy. Why should you use direct deposit?

• Your check can’t be lost or stolen in the mail.
• Your money shows up on the day the check is issued. If you’re on vacation, home with the flu, or just very busy, it doesn’t matter: you don’t have to drive to work to get your check or to your credit union or bank to deposit it.
• You don’t have to worry about when the check will clear once it’s been deposited. Once it’s there, the money is accessible. Look, ma! No bounced checks!
• The federal government and many other employers will deposit your check a day early if payday falls on a holiday.

When should you not use direct deposit? If you want to protect your check from being garnished, or if you want to keep the money away from someone else who has access to your account, go with a regular check.

Invest

You reached a big goal when you got that great new job. Now use that job to reach other goals. Save some of your earnings.

We know you’re groaning. "It’s my first real check, for Pete’s sake!" "You’re only young once!" "I don’t make enough yet to save. I’ll save later."

Humor us for a minute. Use our calculator to see how much money you could have in ten years if you set aside $10 every week, starting now. Try it with $5.Try it with $20. Now see how much you would have in 20 years, or when you retire. Such a little bit of money can grow to so much. How can you afford not to save?

Go to the budget section to figure out how much you can really save and what you want to save it for. Then go to the retirement  and Let Your Money Grow sections to learn about investing your money wisely. Or ask at your credit union about investment options and which ones might be the best for you. Your credit union is there to give you exactly this kind of help. Don’t belong to a credit union? Find one near you.  You’ll thank yourself for it later.