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Making the most of your finances when starting a new career

Last updated  October 9, 2025

Guardian Life Insurance of America
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Starting a new career is exciting, but it can also be a little overwhelming, especially when it comes to your finances. Suddenly, you’re earning a regular paycheck — and with it comes the responsibility of figuring out how best to use it. The opportunities are endless, but so are the choices: Do you splurge on a new wardrobe, set up your dream home office, or treat yourself to some entertainment? And you still have to start paying down that student loan. With so many ways to spend, it can be easy to lose sight of what really matters for your financial future.

So, how do you make sure your hard-earned money is working for you? Here are some ideas to help manage the financial complexities of starting out and making sure you’re headed in the right direction.

Budget realistically 

It all starts with a budget that’s realistic and fits your life right now. Think of it as your personal roadmap: It can help you live the life you want now while still saving for what’s ahead. That last part is important. Research shows that among Gen Z (ages 18-28), 43% say they are not actively on track to save for their retirement in the next five years.1

Creating a budget that covers your essentials like rent, groceries, transportation, and bills — while leaving room for spontaneous dinners and travel — helps you build financial confidence and lay a strong foundation for your goals. Consider chipping away at those student loans whenever you can and start building an emergency fund to help cushion any surprises along the way. Fifty-five percent of Gen Zers say they don’t have enough savings to cover three months of expenses.2

Make career planning part of financial planning

With your budget in place, you can start to see what you might achieve with a little more income. As your career picks up speed and your responsibilities grow, don’t forget to factor finances into those big conversations, like when you ask for a raise or negotiate your salary at a new job. The aim is to reach a point where your paycheck powers your dreams, whether that’s going to graduate school, buying your first home, or traveling to far-away places.  

Think about new insurance options

As you kick off your career adventure, you might find yourself navigating benefits on your own for the first time, especially if you’ve aged out of coverage under your parents’ plan. Don't just skim the paperwork; dive in and see what your employer is offering. If you spot any gaps, like a high deductible on your health plan, it might be worth considering extra coverage, such as a supplemental health policy.

Then there’s disability insurance. You may be tempted to pass it up — you’re young and healthy and feel invincible right now — but an unexpected illness or accident can happen to anyone. And here’s a surprising fact: One in 4 people in their twenties today will need to take at least a year off work due to an accident or illness at some point before they retire.3

Disability insurance is a way to protect your income when you’re unable to work. If your employer offers it, read the details of the plan — many only cover a part of your income — so you may need extra coverage. An individual disability policy can help fill in the gaps and, in some cases, even cover your student loan payments while you recover. Taking these steps now can help set you up for smoother sailing when life throws a curveball.

Take saving seriously 

Let’s talk about saving. It shouldn’t just be an item on your to-do list, think of it as the foundation for everything you want to achieve. Starting early means you get to take full advantage of the magic of compound interest, letting your money grow while you’re busy living your life.

So, how much should you actually set aside? Financial professionals suggest you aim for an emergency fund that covers three to six months of expenses.4 That way, if life throws something unexpected your way — a broken laptop, car trouble, or a sudden move — you have some funds saved up. If possible, make it easier on yourself by setting up automatic transfers from your paycheck right into savings. Did you get a tax refund, a bonus, or even holiday or birthday cash? Drop it straight into your fund to give it an instant boost. As you get used to saving, try to step it up a bit more each year. Eventually, you’ll want to aim to save enough to cover a full year’s income.

Remember, your emergency fund isn’t for everyday splurges; it’s there for the real surprises. If you ever need to dip into it, make a plan to rebuild it as soon as you can.

And don’t forget about retirement! Even if it feels ages away, starting now puts you way ahead. If your employer offers a 401(k) match, take advantage. It’s free money and a head start on your long-term goals.

Ask for help

You might think you don’t have enough wealth to consult with a financial professional. But even if you’re just starting out, connecting with a financial professional can help you make your money work harder now and set the stage for a confident financial future. It’s not about having all the answers or a hefty bank account — working with a financial professional is about getting guidance so you can see your financial life from a new angle.

Wondering whether to tackle your debt first, start investing, or purchase insurance? A financial professional can break it all down and help you prioritize, from building protections like disability or life insurance to deciding how much to stash away for retirement.

You’re at the beginning of your journey, and with the right advice and a few moves, you can begin to help shape a future you can feel good about.

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  1. A Window Into Gen Z’s Financial Health, Bank of America, 2025

  2. ibid.

  3. Futureproofing Your Income, Guardian, 2025

  4. How Much Should You Save In an Emergency Fund? Here’s what Financial Experts Say, U.S. News & World Report, 2025

Material discussed is meant for general informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation.

Links to external sites are provided for your convenience in locating related information and services. Guardian, its subsidiaries, agents, and employees expressly disclaim any responsibility for and do not maintain, control, recommend, or endorse third-party sites, organizations, products, or services and make no representation as to the completeness, suitability, or quality thereof.

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