Sub category: Teens
6 September 2018

From job hunt to pay day

It doesn’t matter if you’re packing fruit and veg at the supermarket or flipping burgers at a fast food chain, your first job means one thing: independence.

If it’s time for you to get into the professional world, here’s what you need to think about at every phase, from job hunt to payday.

Phase 1: The job hunt

Start off your search by looking online. Career resources like Seek have casual listings, and you can add geographical filters to search in your local area. There are also part-time specific sites like Spot Jobs.

While it may not seem like it, after school jobs can definitely build skills that apply to your future career. Think about the role and the skills it may require. Will it build your communication skills and confidence through customer service, for instance?

Phase 2: Getting your stuff together

As you start applying for jobs, it’s good to have all of the information an employer will need ready to go. Here’s a list of some things you need to think about:

  • Tax File Number: This is a number assigned to you by the Australian Taxation Office (ATO) that helps identify you for tax and superannuation. Your employer will need this before they can pay you, so it helps to be proactive and get one before you get started. The ATO’s website provides some helpful information on the different ways you can get a TFN.
  • Bank accounts: It’s good to have both a transactional account and a savings account. Take a look at ING Orange Everyday Youth – it’s got benefits that can help you in your day to day saving, like no ATM fees or ING international transaction fees worldwide.
  • Super: Before you start the job, do some research to find a super product that works for you. Think about what features you want, what investment options you are interested in, consider what your financial needs, objectives and requirements are and have a look at the Product Disclosure Statement(s) and Product Guide. You can use a comparison site to get an understanding of the different features of superannuation accounts.

With ING’s Living Super, for instance, you can keep it simple by choosing one of three managed fund options or you could get more sophisticated with a customised trading portfolio. You can easily change investment choices according to your comfort level.

Phase 3: Starting the job

When you get a job offer, you can check whether you’re getting paid fairly with the government’s PACT (Pay and Conditions Tool) calculator. You’ll just need to a few pieces of information about the job, your age and the industry, and the calculator will tell you the base pay rate you should be receiving.

Adding a job in the mix with all the other things in your life, like school and your social life, means there will be a bit for you to juggle. It can help if you plan out your weeks. You can start by prioritising your schoolwork and any extracurricular activities like sport, and then build your shifts around those priorities. Try out apps like myHomework which tracks your homework, classes and tests with an easy calendar display.

Casual work can be fairly flexible when it comes to scheduling shifts, but if you need time off, it can be helpful to give your employer at least a couple of weeks’ notice in advance where possible.

Phase 4: Payday

When it comes to your paycheck, there are a few things to look out for:

  • Gross pay is your pay before tax. Some of the money you earn may not be subject to tax, but if you earn over the tax-free threshold then you may need to pay tax. You can use an income tax calculator to check whether you will need to pay tax, and how much tax you may need to pay.
  • Net pay is the amount you actually get after tax is taken out.
  • You’ll also see how much has been added to your super. It is always important to check that your employer is paying into your super correctly.

You can also set up recurring payments on your payday to move some of your paycheck into your savings. With an ING Orange Everyday Youth you can link your transaction account to your Savings Maximiser account, which has a high variable interest rate to help accelerate your savings.

Ready to step into the workforce? You’ll need the right transaction account to manage your money day to day.

For the curious:

This information has been prepared without taking into account you or your personal circumstances, financial situation or needs.  Fees and charges apply.  Before making any decision in relation to any of our products, you should read the following product documents and consider whether the products are appropriate for you:

Orange Everyday Youth and Saving Maximiser Accounts – Orange Everyday Youth Terms and Conditions and Fees & Limits Schedule, and the Savings Maximiser Terms and Conditions;

Living Super Account – Product Disclosure Statement, Product Guide and Financial Service Guide.

These documents are available at www.ing.com.au or by calling 133 464.

Issuer details

ING Orange Everyday Youth and Savings Maximiser Accounts are issued by ING, a business name of ING Bank (Australia) Limited ABN 24 000 893 292, AFSL 229823.

ING Living Super (which is part of the ING Superannuation Fund ABN 13 355 603 448 (Fund)) is issued by Diversa Trustees Limited ABN 49 006 421 638, AFSL 235153, RSE L0000635. ING is the Promoter of the Fund. The insurance cover offered by the Fund is provided by MetLife Insurance Limited ABN 75 004 274 882 AFSL 238096. Financial advice is provided by Link Advice Pty Ltd ABN 36 105 811 836, Australian Financial Services Licence 258145.

If you have a complaint, please call us on 133 464 at any time as we have procedures in place to help resolve any issues you may have.

Orange Everyday Youth Account

Orange Everyday Youth is an account for individuals who are 15 to 17 years old. Joint accounts and overdrafts are not available for Orange Everyday Youth.

Rebate Offers for Orange Everyday Youth Accounts

All Orange Everyday Youth accounts will receive the Global ATM Rebate Offer and the International Transaction Fee Rebate Offer. This means that:

for ATMs in Australia – any ATM fee charged by the ATM operator is paid back to you immediately following the transaction,

for ATMs outside Australia:

ING will pay back the International ATM withdrawal fee of $2.50 immediately after it is charged, and

ING will pay back any ATM fee charged by the ATM operator when your transaction is finalised (settled).

While a transaction is pending, the amount the ATM operator charges in fees will be deducted from your available balance and will be paid back to you after the transaction is finalised (settled). ATM transactions made outside Australia can take up to 5 business days to finalise, so that means it can take up to 5 business days for us to pay back overseas ATM fees to you, and

for ING international transaction fees on card purchases – ING will pay back the International Transaction fee of 2.5% of the amount of the international transaction immediately after it is charged. The person you’re buying things from may charge you a separate fee for their services (which we will not pay back to you under this offer).

This offer may be changed or withdrawn at any time at ING’s sole discretion.

Savings Maximiser Account for Orange Everyday Youth customers

Interest rates are subject to change. See ing.com.au to find the current rates. High variable interest rate comprised of standard variable rate and additional variable rate. Additional variable rate can only apply when you also have an Orange Everyday Youth. The additional variable rate that is added to the Savings Maximiser standard variable rate applies on one Savings Maximiser per customer and calculated on the account balance in that Savings Maximiser Account up to $100,000. Any amounts above $100,000 in the Savings Maximiser Account are subject to the Savings Maximiser standard variable rate applicable at the time. If you do not satisfy the conditions to receive the additional variable rate, the standard variable rate applies. If you have multiple Savings Maximiser accounts, visit online banking or call us on 133 464 to check or change which Savings Maximiser account receives the additional variable rate (if eligible).

ING can change or withdraw the additional variable rate at any time. The additional variable rate is not payable in conjunction with any other promotional rate. This offer may be changed or withdrawn at any time at ING’s sole discretion.

Apple Pay and Google Pay

e Apple App Store, Apple Pay and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. Android, Google Pay and Google Play are trademarks of Google LLC. The Apple Pay Terms and Conditions and the Google Pay Visa Debit Card Terms and Conditions for ING customers are available when setting up mobile payments on your eligible device.

 

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 Home and Contents 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 ing.com.au 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 https://www.ing.com.au/pdf/Social_Media_User_Terms.pdf.

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