Congrats! You’ve gone through the interview process and bagged yourself a new (and hopefully improved) job – yay! That took a whole lot of effort to get yourself out there and search for a new role; now you’ve got it you have to make the transition from your old job into the new one as smooth as possible. Changing jobs can be extremely stressful, not only are you worried about making a great first impression, meeting new coworkers and learning new systems, you also have to deal with your finances! You don’t want to be in a situation where your money begins to dry up and have a long wait until your next paycheck.
Here’s how you can budget your way to a smooth job transition, and give yourself a head start in your new job!
Find out your new pay date
Once you have accepted your new role speak to HR to find out what date you will receive your first pay – it may not be on the same date as your current job. This is especially important if you are moving to a different pay schedule ie. moving from bi-weekly pay to monthly. You’ll need to make sure that you budget carefully during your notice period. Check out the costs associated with your new job – will you need new outfits? What’s the travel costs like? What about lunch – are there affordable places nearby? Make sure you set aside enough money so that you don’t end up taking on debt before you receive your first pay cheque.
Check your bills
Assuming you have completed the first step above you will now know when you are due to get paid, so now is the time to check your current bill schedules. You might need to contact your specific providers to see if you can change the date in which you pay them to coincide with your new pay date. You might also want to look into paying some of the bills ahead of time (if your budget permits). This way you know that you are not going to miss any payments during the transitioning period.
Look at your last payslip!
This tip is often forgotten about, but make sure you check your final payslip. Many employers will pay you for any holiday days you have left, or other entitlements you may have. Make sure you have been paid this (if it’s due) by checking your payslip. If you are not sure that this is something your employer does, check in your employee handbook. You might be able to get one of these from your HR department.
By following these steps you should make sure that you have the smoothest transitioning period and not have to worry too much about your money! Remember, you can get paid straight into your Monese account! To get paid by your employer give them your Monese UK Account number and sort code then you’ll be all set!