Category: Future Proof
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Sub category: Superannuation

Money tips for life’s big milestones: starting a new job

Whether you’ve landed your first ever job or you’re moving onto your next one, it’s worth setting time aside to create a budget based on your new salary to ensure you’re living within your means.

Here are 6 tips for getting your finances in order prior to your first pay day:

  • Check your pay day: According to ING DIRECT research, Wednesday is the most popular day to get paid, but every employer’s pay schedule is different. Knowing when you get paid is key to arranging your finances, so make a note of it early on so you can manage your money effectively.
  • Time your direct debits: Many suppliers are flexible regarding your direct debit dates so you may be able to time your direct debits to come out just after pay day – meaning you don’t have to worry about paying your bills later on in the month.
  • Analyse your spending habits: Start by looking through your transaction history for the last 6 months to build a clear picture of all your outgoings, including essentials and discretionary spending.
  • Shop around: This is also a good time to identify any areas where you may be able to make savings by calling around to see if you can get better deals on your utilities, mobile phone and similar services.
  • Put some money aside: While you’re setting up direct debits, consider paying a percentage of your salary into your savings account every time you get paid to help you build up a savings buffer in case of an emergency.
  • Invest in your future: It may seem strange to be thinking about retirement when you have your career ahead of you, but if you get to grips with your super early on it could make a huge difference down the track. Here are some top tips to help you understand your super when you start a new job.

The information is current as at publication. Any advice on this website does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. Deposit products, savings products, credit card and home loan products are issued by ING, a business name of ING Bank (Australia) Limited ABN 24 000 893 292, AFSL and Australian Credit Licence 229823. ING Living Super (which is part of the ING Superannuation Fund ABN 13 355 603 448) is issued by Diversa Trustees Limited ABN 49 006 421 638, AFSL 235153 RSE L0000635. The insurance cover offered by ING Living Super is provided by Metlife Insurance Limited ABN 75 004 274 882, AFSL 238096. ING Insurance is issued by Auto & General Insurance Company Limited (AGIC) ABN 42 111 586 353 AFSL Licence No 285571 as insurer. It is distributed by Auto & General Services Pty Ltd (AGS) ABN 61 003 617 909 AFSL 241411 and by ING as an Authorised Representative AR 1247634 of AGS. All applications for credit are subject to ING's credit approval criteria, and fees and charges apply. You should consider the relevant Product Disclosure Statement, Terms and Conditions, Fees and Limits Schedule, Financial Services Guide, Key Facts Sheet and Credit Guide available at when deciding whether to acquire, or to continue to hold, a product. Before interacting with us via our social media platforms, please take a minute to familiarise yourself with our Social Media User Terms

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