Getting a job in this economy is exciting. It not only acts as an accomplishment for you and your education but also is a great way to validate yourself. By getting a job, the person becomes a certified adult. They can start owning things.
From buying furniture and small things for themselves to then buying a house in the future, these are the dreams that make it worth all the drama that goes into getting and retaining a job.
The question isn’t that you get the job, it is how you retain the job. This means that once you have gotten the job, how do you keep it till you get your first pay check. Though the thought of the job may be daunting but think about this, the pay check you get at the end is all yours. You have earned that and you deserve the money that you will be receiving.
From getting your first pay check to knowing how you can spend it responsibly. You will learn all of it as time goes on. Just trust in yourself and know that everything will be okay.
How Long Does It Take to Get Your First Pay Check?
This is a good question. If you want to talk about it generally then most places start the check process two to three weeks in when you start your job. This means that they first need to figure out if the person that they hired is doing a good job or not. Along with this, there are a couple of other steps, legally, that the employer needs to go through before they can give you the check.
Most companies pay you for the days you are working which means that excluding the weekends and the national holidays’, all the day you will show up, you will get paid for that day and the collective will be paid by the end of the month.
Now, there are companies that sometimes don’t do that, and they instead may pay their employees bi-weekly. If that is the case then it is most likely that you will not start the day everyone gets paid. This means that you don’t work that day and that day is called pay period. This would mean that you either get the day off or the week, depending on the entire staff is getting paid.
This can be true for businesses or company places. If you are working in a fast food place of a convenience store then you may just get a pay check per every week or by the week’s end. This means that you will be getting a week, that is 5 days of pay.
How Much Does of Your Pay Check is Taxes?
You may be shocked to hear this, or maybe you already know, that when you get your pay check, it is not all the money that you are owed. You be told when you first join a company or a job what your pay check would be and that may have made you happy or excited.
But then, when you receive your pay check you notice that the amount is considerably less than what you expected. Why is that?
Simply because you get taxed. In every country, but mostly USA, the money that you receive on your pay check is less than what you are owed because the rest is paid off in your taxes. Federal and state taxes are applied to almost all pay checks.
Not only does the federal and state tax apply on your pay check, but so does healthcare, Medicare, and social security tax. This may seem unnecessary to you or anyone who is getting their first pay check because why would you want to pay the taxes when you hardly own anything. The fact of the matter is that when you become a job-holding citizen, you have to pay the taxes.
The taxes are the ones that help you get the healthcare that you will receive if you get injured or sick. The taxes that will be cut from your pay check will be used to help pay for your emergency or hospital bills. This may not be the perfect system but it does help in the long run.
How to Use Your Pay Check Responsibly
Now, this may be a little off topic but this will definitely help you in the long run so listen up. Yes, the first pay check you receive is going to be a little disappointing and you may have been hyped up to get a lot of money.
But the fact is that you have what you have so let’s not dwell on that. The best way to deal with a first pay check is simple and intelligent, that is if you follow the simple steps mentioned below.
1. Direct Deposit
Now, this is simple and easy to understand. All you need to do is get a bank and make an account. Once you have a bank account, use the pay check that the company has given you and directly deposit it into the bank. This way your money is kept safe and sound and you can use it whenever you want.
2. Treat Yourself!
You earned it. So, what that your pay check got cut due to taxes. That okay. You will be able to make so much money as time goes on and you will be able to save a lot of money. All you need to do is just use the money carefully and intelligently.
Once you have done all that, you just need to remember that all you have done, all you have worked for is to provide for yourself. You are doing it. being an adult is hard and it’s not easy and getting your first pay check is a milestone in your life.
So, take a moment and value it because this feeling will not come back and you will never be this excited about a pay check again.