6 Things to Do With Your First PayCheck

Hooray! It’s your first paycheck! Aside from treating your family to a sumptuous meal, what should you do with it? Here are our recommendations. 

Cheers! Welcome to adulthood!

Congratulations! You just received your first paycheck. Now what? Do you buy that corporate power suit you were lusting over for weeks now? Do you treat yourself to a grown-up watch or a grown-up bag? The most grown-up thing you can do really with your first salary is to save and not splurge. It’s the first step to controlling your spending and managing your finances. Here are our suggestions.

Savings Account

A big chunk of your first salary should be deposited in a bank. If you do not have a bank account yet. Open one. It’s one of the things that will help you manage your money. Some companies put salaries straight into an ATM account, which makes it easier to save. You just withdraw what you need. When you have accumulated enough, open another savings account and transfer your money there. Interest is much higher. Usually, you need about PhP2,000 to PhP5,000 to open and maintain an account.  


Now that you are working, you can allot a portion of your salary on investments. You can start with time deposits and UITFs. Then, when you’re confident enough, you can invest on stocks. A safer and less hassle way to invest is to pool your resources with others like in mutual funds or investment plans like what FWD Philippines is offering. To know more about how you can grow your money so you’ll have something to fall back on in the future, visit www.fwd.com.ph.


The best time to get an insurance is right now when you are still young. You see, as you grow older, you pay more for a policy. If you do it now, you save on costs and you get protected. There are insurance companies like FWD Philippines, www.fwd.com,ph, which offers insurance + investment products. With this combination, you get the protection and you grow your money, too.


Uhmmm… you just spent the last four (or five!) years laboring over assignments and projects. Why are you going back there now? Well, enrolling in enrichment classes, maybe even a masteral degree, will help you get ahead in your career. Trust us!

But of course, you don’t have to do it now. You can just set up a “study fund” and put a part of your salary there. That way, when you do decide to take that course, you already have the money.

Simple Act of Gratitude

Now that you have received your first paycheck, it is important to use a small part of it to treat the people who have helped you get to where you are now. Thank your parents. A simple act of gratitude will be a good start to spend your first salary. You can celebrate with your family without spending a lot.

Reward for yourself

You’ve worked for your salary so it is only right that you reward yourself for a job well done. Treat yourself to a spa experience or buy that dress you like. The key is to spend a bit of your salary to reward yourself but save the rest for your future.