Your first pay packet may look like money heaven after the striaghtjacket of student loans, but don't get carried away. Your income may be rising but so are your expenses. Following these ten tips should help you keep your finances tip-top.
1) Don't forget deductions. The take-home pay you have to live on is less than your headline salary. As well as tax and National Insurance, deductions might include union subs and pension contributions.
2) Perk of the job. Think carefully before being tempted to save money by giving the pension scheme a miss. It's never too early to start this type of saving and a scheme through work can be a good deal especially where the employer makes contributions.
3) Cover your bills. Before you spend on anything else, set money aside each payday to cover your rent or mortgage, fuel bills, water bill, council tax, phone and insurance premiums.
4) Keep track of your money. Once a month, tot up where your money goes, so you can quickly nip any overspending in the bud.
5) Clothes. Make your work wardrobe go further by sticking to relatively few items in complimentary shades that you can mix and match. Develop your own style to avoid being constantly tempted by the latest fashions.
6) Lunch. Canteens and sandwich bars can be costly. Take a packed lunch. If there are no free drinks at work, take your own bottle of tapwater.
7) Commuting. Does your employer offer cheap or free season ticket loans so you can get the cheapest travel deal and spread the cost? Some employers lend bicycles as a tax-free perk. Could you car-share with a colleague?
8) Need a car? Used cars are usually better value-for-money than new. Buying privately or through an auction should be cheaper than a dealer but is more risky. See Buying a car [link to article in this series] for more information.
9) Need to borrow? Shop around for the best credit deal - see Choose don't lose [link to article in this series]. Don't be in a hurry to pay off your student loan or graduate overdraft if you have other borrowings - they are among the best value credit deals around. Avoid store cards; most are very expensive.
10) Emergency fund. Try to put away a few pounds each month so you have something to fall back on in an emergency instead of running up debts.