centsandcommon

Money Basics checklist

16 money basics to get right in your first years of work.

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Your paycheck

Know what you earn and keep.

  • Check every line of your latest pay stub Guide
  • Run the IRS Tax Withholding Estimator Guide
  • Write down your monthly take-home pay Guide
  • Decide in advance what your refund is for Guide

Bank accounts

Low fees, no surprises.

  • Have separate checking and savings accounts Guide
  • Check your overdraft settings and turn on alerts Guide
  • Read your account's fee schedule Guide
  • Confirm your accounts are FDIC or NCUA insured Guide

Credit

Know where you stand.

  • Get your free reports from all three bureaus Guide
  • Dispute any errors you find Guide
  • Set up autopay for at least the minimum on every card Guide
  • Check your credit utilization Guide

Money habits

A plan and a cushion.

  • Write a first budget from your net pay Guide
  • Automate a savings transfer on payday Guide
  • Build a first cushion of a few hundred dollars Guide
  • Know the alternatives to payday loans Guide