If you’ve moved to a higher paying jobs, the first pay-day will feel great. If this is your first pay-day out of unemployment or graduation, this is one of the best days of your life. Expendable income isn’t what makes this day so special, it’s the promise of regular income!

You’ve probably planned out exactly what you plan to do with this money. How many nights out it’s worth, how much you think is the ‘right’ amount to save, what your big blowout will be… hopefully you’ve considered outstanding debts and responsibilities first.

We’ve got a five step plan to balancing your money on your first pay-day because, when given the opportunity, none of us can really be trusted.

1. Figure out a savings account

The more you worry about your future now, the less you’ll have to in the future. Whether you want to accumulate some interest or just store some cash to resist temptation, check out our fool-proof guide to savings accounts.

2. Trial a budget

Before even touching your money, write a list of everything that you will need it for across the month. Travel, food, phone bills etc. You’re not going to master you budget in the first month so live frugally this month and slowly give yourself more leniency with each pay-day.

3. Retirement… 

This is literally the earliest you could start thinking about retirement, we know that. But doesn’t it make a little bit of sense? 27% of millennials don’t expect to retire until they are at least 70 and 12% of those expect to work until they die. We expect a bleak future so the earlier the better.

4. Keep it a secret

If your friends are as big sponges as mine (and you’re what’s called ‘a generous drunk’), it’s better to keep the whole pay-day thing on the down-low for now!

5. Treat yo’self 

You work hard and deserve to treat yourself. It doesn’t matter if it’s clothes, records, comics or WWII memorabilia, if you can afford then get it. On the other hand, you can always get stuff when you’re older, the going advice for young people is to spend money on experiences but, then again, do what you want.