The Best Advice for New Grads With New Jobs

After college, surviving financially requires a different set of skills.

After college, surviving financially requires a different set of skills.
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Starting a new job after graduation usually means a new boss, new tasks and a new salary. It also means new financial challenges, as young workers figure out how to navigate the world of retirement savings, a post-work social life and professional demands. Here is a nine-step guide to taking control of your money before you even receive that first paycheck:

Negotiate, even if it's your first job. New graduates are often so happy to get a job offer that they overlook the fact that they still have some power before saying "yes." If the salary is set in stone, asking for a better deal on benefits, flexible work hours or vacation can result in a more appealing employment package. In the worst-case scenario, the request will be denied, but many employers expect some back-and-forth during the negotiation process.

Make nice with the human resources department. The people who work in the HR department are a new employee's best friends. They can help with signing up for benefits, filling out the correct tax forms and getting the rest of the paperwork in order to maximize benefits. They can also assist with any trouble concerning vacation days or tax form mix-ups. Getting a head start on those benefits is important, because it can pay off big-time later. According to TD Ameritrade's calculations, savings of $100 a month between ages 21 and 41 will grow to $471,358 by age 67, assuming a return of 8 percent per year. (Waiting to save until age 41 will result in a relative paltry sum of $59,295.)

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Keep paperwork organized. Being a new employee means getting all kinds of forms thrown your way, from health insurance applications to 401(k) details. Much of it might seem boring now, but anyone who ends up needing to switch insurance providers or revamping retirement investments will want to have access to that paperwork. Investing in a file system or three-ring binder to keep it all handy can help. Some employers make it even easier by offering online documents.

Ignore the new paycheck. Getting a bigger salary compared with the pre-diploma days is thrilling, but one of the biggest mistakes new employees make is spending all that cash in celebration. While a few indulgences are hard to avoid, such as a new wardrobe and the occasional nice meal, continuing to live like a student makes it much easier to build up a solid savings account. Then, with a few months' expenses tucked away in an emergency fund, a few more upgrades are in order. Improving their new lifestyle slowly, instead of overnight, can help new grads find their financial footing.

[Read: Best Money Tips for New Graduates.]

Do an outstanding job. Even for new employees who don't plan on staying very long, or who know they're headed to graduate school in a year, doing a good job gives them power. It increases the chances that they'll leave on their own terms, with glowing reviews that enhance their chances of getting into grad school or landing the next job they really want. Meanwhile, doing a bad job can hurt a reputation, even outside immediate supervisors.

Ask for feedback. Many employers offer formal annual performance reviews, but there's no need to wait that long before hearing what the boss thinks. After completing a project, new employees can ask for suggestions or critiques. Even though such feedback can be hard to hear, it increases the chances of doing a better job next time. And stellar feedback can be filed away for future endorsements.

Volunteer for extracurricular activities. Participating in company softball games or volunteer groups gives new employees a chance to meet other people in different parts of the company, and it also offers a chance to flex muscles in different areas. A volunteer gig could turn someone onto the fact that she really loves working with senior citizens, or that his true passion lies in fundraising. The activity could also provide an introduction to a senior executive in another part of the company.