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Thread: first paycheck!

  1. #1

    Default first paycheck!

    i got paid for the first time yesterday, after three weeks at my new job. i called the bank thing and found out it was there and suddenly had this feeling that i for once earned something XD that now i had a foothold on the long slope of power and had a freedom. or so i think...

    as soon as dad heard i got confirmation the money had been deposited, my dad demanded the for-emergency-only-and-gas-and-out-with-friends credit card back. but i got to thinking; if i'm paying for my own gas now, i can go about my business and i dont have to report my whereabouts, or why i took long, or even just leave the house randomly and go do whatever i want. or am i wrong? perhaps this freedom is imaginary.

    how was it when yall got your first paycheck?
    how did you resist the urge to spend it all at once?
    (right now i'm tempted to spend it all on something with sleeves just to demonstrate that nobody's gonna tell me what to do with my money)
    this thread is good for the youngsters here who are new to the workforce like me, so elder advice would be quite helpful.

  2. #2

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    Butterscotch. Just don't spend your money all at ounce it goes faster than you think. I have been there.

    Take care.

  3. #3

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    Oh how awesome it feels......the lure of your own money and freedom. Tread carefully though my friend, there is much illusion afoot. Freedoms are few and many come at a high price (not always financial) As to asserting this new found freedom to your folks, just keep in mind that respect is way harder to earn than money. But so easy to lose.

    Good luck enjoy your cash but respecting yourself and others in the process.

  4. #4

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    Your freedom to go out anywhere might be here, but you also are taking your own responsibility. I'm sure your parents still have rules if you live with them. If not, you still have to take care of yourself. Your parents are probably happy that they have finally weaned you off of their own money. What you should do is take responsibility of your money and spend it wisely. Save it for some goals that you have for yourself. Get ready to be on your own, and don't just think it's party time. Life will only get harder for you as you hit adulthood.

    Adulthood is just switching responsibility from your parents, to yourself.

  5. #5

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    I got my first paycheck at a young age, but that first paycheck was the start to life. Remember, save enough money, and you never have to listen to your parents ye'll ever again, because then you can get your own place

  6. #6

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    I say if it's your money, you can do what ever you want with it. You have to respect your money though. I don't remember what I spent it on but I know I blew my first paycheck. It's one of those, it's my first paycheck I'm going to do what ever I want with it but then be responsible with the next few paychecks. You got to splurge once in a while . You have to becareful about impulse buying though. Now that you have some money you could apply for your own debt card if you open your own checking account. You can also setup paperless statements if you want more privacy for those private purchases

  7. #7

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    The best thing to do is ask your parents if you can get a copy of your bills so you can get an estimate of how much you will need for gas and emergencies. You can set that aside for those needs. Then plan other goals for saving, giving, etc. With what is left. You can pick a big thing to save for and a smaller thing to reward yourself in the long run. You may run a little short in one area and have to borrow from another, but you will spend your money more wisely if you are on top of where it is going and what areas are eating up too much. I usually use a % budget where I save a percentage for the bills, some for saving, 10% for giving etc.
    F.L.

  8. #8

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    Quote Originally Posted by Butterscotch View Post
    i got paid for the first time yesterday, after three weeks at my new job. i called the bank thing and found out it was there and suddenly had this feeling that i for once earned something XD that now i had a foothold on the long slope of power and had a freedom. or so i think...

    as soon as dad heard i got confirmation the money had been deposited, my dad demanded the for-emergency-only-and-gas-and-out-with-friends credit card back. but i got to thinking; if i'm paying for my own gas now, i can go about my business and i dont have to report my whereabouts, or why i took long, or even just leave the house randomly and go do whatever i want. or am i wrong? perhaps this freedom is imaginary.

    how was it when yall got your first paycheck?
    how did you resist the urge to spend it all at once?
    (right now i'm tempted to spend it all on something with sleeves just to demonstrate that nobody's gonna tell me what to do with my money)
    this thread is good for the youngsters here who are new to the workforce like me, so elder advice would be quite helpful.

    #1 so long as you are in your parents house you still are subject to paragraph two because if you don't comply you may not have a house to go back to.

    when i got my first paycheck it was gone in two days between the newly instituted Parental Rent, my car insurancee that my parents were no longer paying, my $120 to fill my gas tank because my parents were no longer paying for it, i had to pay my car payment that my parents were no longer paying. ect. yes you gained an income, but you also gained bills. um don't count on much for tax returns eiither. single and no kids you will lucky to get over 200. and you are from cali as well so regular vehical maintmence and yearly emmissions testing at (last time i regestered a car in cali) $75 roughly by the time i was done.

    Price of the smog check - The State of California does not regulate the cost of the smog check. The price of a smog inspection will vary from one smog test center to another. Smog stations are privately owned businesses. The normal price range of the average smog test is between $29.95 and $69.95 depending on the county you live in, the type of vehicle you own... car, truck, van, SUV, or motorhome, and the type of smog inspection your vehicle requires.

    This price may or may not include the California Emissions Certificate Fee of $8.25, or any additional fees the smog station may be charging for your vehicle's specific smog inspection.

    living in Cali Is very expensive compared to the rest of the country. thats why i moved away. here in Kentucky i can support myself on $800 a month Food, rent, utilitys, Vehical insurance, ect. in cali $800 wont even cover 1 month in the smallest aparntment you can find. i had a 1 room studio aparntment in a low level LA neighborhood and i was out $1200 a month with no utillitys.

  9. #9

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    Quote Originally Posted by Butterscotch View Post
    how did you resist the urge to spend it all at once?
    I didn't! I spent it all at once. I had, very shortly beforehand, proposed to my then-girlfriend. However, being a penniless college student at that time, I hadn't managed to buy a ring. So! That first paycheck -- perhaps the second and third paychecks, too! -- were spoken for.

    But it still felt great to have some real income. Before that, I had worked for the university under a system that basically just deducted my earnings from my tuition, so there was never anything left over -- besides parental gratitude. And before that, during high school, I washed dishes at a restaurant on the weekends. Given that it was minimum wage combined with very low hours, I'd hesitate to call what I made a "paycheck," but it did eventually pay for a Super Nintendo and quite a few games. (I was living with my parents at the time, of course.)

  10. #10

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    I got my first paycheck when I was 11 years old, working at a boat yard. I was saving up for my own boat, so I banked it. By the time I was 14, I bought my first boat and motor and was so excited.

    As for the house rules, I suppose they still apply. When I was you age and home from college for the summer, I'd often come home at three in the morning, something my mom wasn't crazy about. Eventually we established a truce by me promising to call them if I was going to be late.

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