First Job / New Career

First Job

Bank Account, Current & Savings. Employee Benefits.

This financial stage of life is usually nothing more than an introduction to financial independence.

It is the first time than young people will have a significant recurring income. Temptations abound and overspending can be typical.

There is no better advice at this point other than to say;

  • Get used to the concept of income and expenditure.
  • Always spend within your means.
  • Open competitive Bank Accounts, Current and Deposit.
  • Develop regular savings surpluses with or without a specific objective.
  • Open Cash ISA to hold deposits and possibly Stocks & Shares depending on surplus.
  • Establish Employee benefit regime and confirm acceptance to all relevant benefits such as Private Medical Insurance, Permanent Health Iinsurance, Pension, Sickness cover.