Money management 101: How to make your paychecks work for you

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Let's talk about money.

You’ve landed that first post-grad job (yay!) and the paychecks are finally rolling in. You’re making real, adult money. But … what now?

Is it time to treat yourself to that big-ticket item you’ve been eyeing? Do you just let your money sit in the bank? Should you invest in the stock market? There’s a lot to consider when deciding what to do with those first paychecks.

It’s totally fair if you feel a bit lost. After all, personal finance isn’t really a subject taught in school. But, don't worry! We're going to help you understand the basics of budgeting and saving to keep you from making costly mistakes (literally).

For this conversation, Jamé and I called in the expert help of Vivian Tu , CEO and founder of Your Rich BFF (yep, she’s all over TikTok ). Vivian joined us on the latest Let's Talk Offline episode to discuss how to set a financial game plan and how to figure out what your goals even are.

Before we jump in, it’s important to note that money management isn’t a one-size-fits-all deal, and there’s privilege involved. Not everyone has the ability to save or invest right now. But we hope this discussion leaves you feeling more informed and empowered to set the goals that work for you.

Ready? Let's break down the basics.

Money management 101

The first step in managing your money is knowing what you’re working toward. This has been a struggle for me. Honestly, I thought financial goals meant "big" milestones, like buying a house. Sure, I’d love to do that one day, but it's not on my radar right now.

So, I asked Vivian how to set realistic goals when there’s no life-marker in sight. Her answer? Your goals don’t have to look like anyone else’s but having a clear plan is key.

Here’s how to start: write down your goal, set a timeline and divide that timeline into quarters. Each check-in point helps you see how you’re progressing. Next, jot down who and what will support you in reaching that goal — and be honest about what might trip you up along the way.

Got paid? Time to save!

Part of hitting a financial goal is setting aside a portion of each paycheck to support it, which brings us to budgeting.

Hear me out: budgeting doesn’t have to be intimidating. I get it, though. The thought of tracking my spending used to make me cringe. But talking to Vivian made me realize I need a budgeting reality check (yes, Gianna, you’re overspending.)

To make budgeting more approachable, Vivian suggests the 50-30-20 rule : put 50% of your take-home pay toward needs (think rent and groceries), 30% toward wants and 20% toward “future you” (your savings).

There’s a ton more to unpack on budgeting and saving, including setting up a 401k, investing and overcoming money dysmorphia. For all of that, you’ll have to tune in to the?full episode .

?? In this episode, we’re also diving into a fun Show the Receipts segment: Do Gen Z workers really love to "yap" at the office? We share our thoughts and want to hear yours in the comments!

?? After you listen to the episode, let us know what resonated! Tag Jamé and me on LinkedIn. We'd love to hear from our work besties!

Before you go…

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See you back here next Tuesday! We'll cover surviving your first layoff. It’s a tough topic, but we’ll share tips to help you navigate the uncertainty of layoffs and share what to do if you are let go. That's next week's episode.

In the meantime, remember Jamé and I always have your back. So if something's on your mind, let's talk offline.

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