It's nice to suddenly have some cash flowing into your hands on a regular basis. What you do with that money can, for better or for worse, set in place a life-long trend of financial responsibility. The cliché about not being able to teach an old dog new tricks is operative here; becoming a delinquent bill payer, or lacking the ability to put away at least some money on a regular basis, are things you very easily can carry with you into your thirties and forties.

We're fortunate these days to have financial arrangements like 401k plans. As young people just entering the workforce, you're especially lucky. Most of you will be able to benefit from these unique plans that make squirreling away retirement funds easy and convenient, and if your employer matches your investment the return can be extremely high. It may be hard to think about the end of your career before you're even a month into it, but it's a necessary consideration nonetheless.

Recent graduates are often in danger of running up a large credit card debt - if, indeed, they're not already graduating with one to begin with! The thinking tends to go "Well, I'll be receiving raises steadily, which will help me gain a firmer financial foothold, and begin working away the debt I'm accumulating now." Easier said than done. Even if an employer has promised you directly that your income will increase on pre-determined scale, it's better not to out-leverage yourself. To the best of your ability, spend the money after, not before, you earn it. A lot of things can happen, and you'll be wise to prepare for surprises.

Those of you whose tuition was paid in some part through student loans already know a bit about debt and repayment plans. Though student loans tend to be structured in a fair manner, they still impact your paycheck and play a part in your budget. Having loan payments to make means having fewer options with your discretionary income.

Finally, I'd like to leave you with an important consideration: if your first job doesn't pay enough to cover your living expenses, yet you're sure it's the right career stepping-stone for you, make the necessary sacrifices. Live at home, if possible, no matter how badly you want to live on your own. When you're on your feet and doing what you hoped to do for a living, you'll be glad you forfeited some luxuries earlier on.