How to Manage Money at a New Job: Your Complete Finance Guide
Starting a new job is a major life event. It brings a fresh start, new responsibilities, and often a change in income. Managing your money correctly from day one sets the foundation for long-term financial success.
Many people receive their first paycheck and feel overwhelmed. They do not know how to split their income, choose benefits, or plan for taxes. Without a clear system, it is easy to fall into lifestyle creep or miss out on free employer money.
This guide provides a sequenced roadmap for every career stage. You will learn how to allocate your paycheck, maximize your retirement benefits, and navigate raises. We use branded frameworks to make complex financial decisions simple and actionable.
- What are the first steps for managing your money at a new job?
- How do you optimize employee benefits during open enrollment?
- How do you optimize your 401(k) and retirement contributions?
- How to budget effectively with your new income?
- How to build credit and manage taxes at a new job?
- How to navigate mid-career money milestones?
- How to achieve late-career financial milestones?
- Frequently Asked Questions
| Career Stage | Primary Financial Goal | Key Action Item |
|---|---|---|
| New Job / First Job | Establish automation | Set up Paycheck Split System |
| Early Career | Capture employer match | Apply Match Multiplier Method |
| Mid-Career | Prevent lifestyle creep | Use Raise Allocation Rule |
| Late Career | Maximize tax-advantaged growth | Utilize catch-up contributions |
What are the first steps for managing your money at a new job?
Set up direct deposit into a checking account for fixed expenses first. Review your pay stub to verify tax withholding accuracy. Transfer 20% of funds automatically to a high-yield savings account for emergencies. Automate investments into your employer-sponsored retirement plan.
Managing money at a new job starts before your first day. You must decode your total compensation and set up systems for your income. This prevents financial chaos later. When you get a new job, you need a financial reset.
Income and benefits may change. This can shift how you think about money. The first 90 to 120 days on the job are a natural checkpoint to get intentional about your finances. You must update your budget, reevaluate benefits, and align your spending with your new income.
A higher salary does not automatically mean more disposable income. Taxes, benefit elections, and retirement contributions all affect your net pay. Before making lifestyle adjustments, step back and take a close look at your full compensation picture.
You need to understand the exact amount of money hitting your bank account. This is your starting point for all financial planning. Without this number, any budget you create will fail. Take the time to calculate your true monthly take-home pay.
How to decode your job offer and total compensation
Your offer letter contains more than just a salary. Look for signing bonuses, relocation stipends, and equity compensation. Base salary is your guaranteed income. Bonuses and equity are variable.
Review the benefits summary carefully. Health insurance premiums and retirement matches have real cash value. A $90,000 salary with a 5% 401(k) match and low premiums might beat a $95,000 salary with poor benefits.
Calculate your true monthly take-home pay. Things like bonuses, stock grants, and employer retirement matches all count. Health insurance premiums and other benefit deductions also affect your pay. Having a clear understanding of earnings is an essential first step to resetting your financial habits.
Compile your fixed expenses such as housing, utilities, insurance, and debt payments. Also list variable spending like groceries, dining out, subscriptions, and travel. Understanding variable costs helps clarify if there are opportunities to cut back.
How to set up your direct deposit using the Paycheck Split System
Divide your net pay into three automated streams. Send 50% to checking for fixed needs. Send 30% to a high-yield savings account for variable wants. Send 20% directly to investments.
Most employers allow you to split your paycheck into multiple accounts. This automation forces you to save and invest before you can spend. It removes willpower from the equation. You can usually set this up through your employer's payroll portal.
Open a high-yield savings account if you do not have one. Link it to your payroll system. Allocate a fixed percentage of your check directly there. This builds your emergency fund automatically without you having to manually transfer funds.
If your employer does not allow multiple direct deposits, set up automatic transfers from your main checking account. Schedule these transfers for your payday. The result is the same. The money moves before you can spend it.
1. Log into your employer's payroll portal and navigate to direct deposit settings.
2. Add your primary checking account, allocating 50% of your net pay.
3. Add your high-yield savings account, allocating 30% of your net pay.
4. Add your brokerage or HSA account, allocating 20% of your net pay.
A budget is simply a plan for how to spend, save, and handle debt. Start by understanding your take-home pay. Write down fixed and variable expenses. Categorize them as wants or needs. Do not expect your first budget to be perfect. Stick to it, track your spending, and make adjustments as needed.
How to handle your first paycheck correctly
Your first paycheck verifies your tax withholding. Compare your gross pay to your net pay. Ensure your deductions for health insurance and retirement are accurate. If something looks wrong, contact HR immediately.
Use your first paycheck to finalize your budget. If your take-home pay is lower than expected, adjust your W-4. If it is higher, increase your savings rate immediately. Do not let the extra money sit idle in your checking account.
Review the deductions line by line. Understand what FICA, Medicare, and Social Security taxes look like. This knowledge helps you plan for year-end tax strategies. It also ensures you are not overpaying for benefits you did not elect.
How do you optimize employee benefits during open enrollment?
Optimize benefits by choosing a health plan that matches your medical needs. Select an HSA if you rarely see a doctor and want tax-free investing. Select an FSA if you have predictable medical expenses. Enroll in life insurance equal to 10 times your salary.
Employee benefits are a major part of your compensation package. Ignoring them is leaving money on the table. Open enrollment happens once a year, so choose carefully. Review your new job's benefit start dates and coverage amounts.
Your previous and new human resources departments will provide information. Key questions include when old benefits end and new ones begin. Find out about health insurance coverage amounts and effective dates. Also check dental, vision, disability, and life insurance.
Dig deep into supplemental and voluntary benefits at your new workplace. These are often value-adds for you. For example, hospital indemnity helps pay for hospital stays. If you have a coverage gap between previous and new benefits, consider COBRA or a short-term plan.
How to choose between an HSA and an FSA
Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) both offer tax advantages. They are not the same. An HSA requires a High Deductible Health Plan (HDHP). An FSA works with any plan.
| Feature | HSA | FSA |
|---|---|---|
| Eligibility | HDHP only | Any health plan |
| Rollover | Funds roll over yearly | Use-it-or-lose-it (mostly) |
| Investment | Can invest in stocks | Cash only |
| Portability | Stays with you forever | Lost if you change jobs |
An HSA is a triple-tax-advantaged account. You get a tax deduction on contributions. Growth is tax-free. Withdrawals for medical expenses are tax-free. If you are healthy, max out your HSA. It acts as a super-charged retirement account for healthcare.
Before you leave an old job, you must use whatever funds you have in an FSA. Otherwise you will lose those dollars. That means submitting claims before your termination date. If you have an FSA at a new job, ask for clarification on when you can start setting funds aside.
For 2026, the HSA contribution limit is $4,400 for individuals and $8,750 for families. These limits adjust yearly for inflation. Maxing out your HSA provides immediate tax relief and long-term growth potential. It is one of the best investment vehicles available.
How to evaluate your health insurance options
Compare the monthly premium, deductible, and out-of-pocket maximum. A low premium plan often has a high deductible. This is the HDHP. If you are young and healthy, this plan paired with an HSA is usually the best financial choice.
If you visit specialists frequently or take expensive medication, a Preferred Provider Organization (PPO) might be better. The premiums are higher, but your out-of-pocket costs are lower. You also get more coverage for out-of-network providers.
Check if your doctors are in-network. Switching jobs often means switching insurance networks. If your primary care physician is out-of-network, you will pay more. Call the doctor's office to confirm they accept your new plan before enrolling.
How to manage life insurance and disability coverage
Employers often provide basic life insurance at no cost. This is usually one or two times your salary. If you have dependents, you need more. Aim for 10 times your annual income. You can buy supplemental life insurance through your employer or an independent broker.
Disability insurance protects your income if you cannot work. Short-term covers maternity leave or minor surgeries. Long-term covers severe illness or injury. Opt into long-term disability if it is offered. Your ability to earn an income is your most valuable asset.
Review the disability coverage details. Some policies cover 60% of your income, while others cover 70%. Check the elimination period, which is the waiting time before benefits start. A longer elimination period lowers your premium but requires a larger emergency fund.
How do you optimize your 401(k) and retirement contributions?
Contribute at least enough to capture your full employer match, which is often 3% to 5% of your salary. If you have no high-interest debt, aim to increase your contribution by 1% annually until you hit the 2026 limit of $24,500, or $32,500 if you are 50 or older.
Your 401(k) is your primary wealth-building tool. It offers tax advantages and employer contributions. Optimizing it early is critical for a secure retirement. Workplace retirement plans make a significant difference to savings over time.
In 2026, individuals can contribute up to $24,500 toward their 401(k). Those 50 and older can contribute an additional $8,000 in catch-up contributions. Contributing enough to receive the full employer match is one of the simplest ways to boost long-term savings.
If you had an employer-sponsored 401(k) from a previous job, decide what to do with the account. You can roll it into your new employer plan, roll it into an IRA, leave the funds in your old plan, or cash it out. Cashing out can trigger taxes and penalties.
What is an employer match and how does vesting work?
An employer match is free money. If you contribute a certain percentage, your employer matches it. For example, a 100% match up to 4% means if you put in 4%, they put in 4%. This is an immediate 100% return on your investment.
Cliff vesting means you get 0% until a specific date, then 100%. Graded vesting gives you ownership gradually over several years. Always check your vesting schedule before changing jobs. It might be worth waiting a few months to become fully vested.
Understand the formula your employer uses. Some employers match 50% of your contributions up to 6%. This means you must contribute 6% to get the maximum 3% match. Failing to contribute enough leaves free money on the table.
The Match Multiplier Method: How much to contribute
Tier 1: Contribute exactly enough to get the full employer match. Tier 2: Pay off all debt above 6% interest. Tier 3: Max out a Roth IRA. Tier 4: Increase 401(k) contributions to the legal limit.
Start with Tier 1. Never leave free money on the table. Once you capture the match, move to Tier 2. High-interest debt destroys wealth faster than investments build it. Pay off credit cards before increasing your 401(k) beyond the match.
After debt is under control, fund a Roth IRA for tax-free growth. Finally, max out your 401(k). This order ensures you use the best financial tools at the right time. It balances tax breaks, free money, and debt elimination.
If your employer offers a Roth 401(k) option, consider using it. You contribute after-tax dollars, but withdrawals in retirement are tax-free. This is beneficial if you expect to be in a higher tax bracket in retirement. It also simplifies your tax situation later.
What to do with an old 401(k) from a previous job
When you leave a job, you have four options for your 401(k). You can leave it, roll it to an IRA, roll it to your new 401(k), or cash it out. Cashing out is almost always a mistake. You will owe income taxes and a 10% penalty if you are under 59 and a half.
Rolling it into an IRA gives you more investment choices. Rolling it into your new 401(k) keeps things simple. Leaving it might incur fees if the balance is low. Compare the fees and options of each choice before moving your money.
A direct rollover is the safest method. The money moves directly from your old 401(k) to your new account. If you receive a check made out to you, 20% is withheld for taxes. You must deposit the full amount into a new retirement account within 60 days to avoid penalties.
Should you use a Backdoor Roth IRA as a high earner?
If your income is too high to contribute directly to a Roth IRA, use the backdoor method. You contribute to a Traditional IRA, then convert it to a Roth IRA. There are no income limits for this conversion.
This strategy allows high earners to access tax-free retirement growth. It requires careful tax reporting on Form 8606. Keep meticulous records of your conversions. If you have a large pre-tax IRA balance, the taxes owed on the conversion might make this strategy less attractive.
The Mega Backdoor Roth is another option if your employer allows after-tax 401(k) contributions. This allows you to contribute far more than the standard limit. You then convert those after-tax funds to a Roth account. Check if your plan permits in-service withdrawals or in-plan conversions.
How to budget effectively with your new income?
Use the 50/30/20 rule to allocate 50% of your income to needs, 30% to wants, and 20% to savings. Build an emergency fund covering 3 to 6 months of expenses. Pay off debt using the avalanche method to save the most on interest.
A budget is a plan for your money. Without one, your money will disappear. A new job often means a new income level, requiring a new budget. Your short-term and long-term financial goals will change as you advance in your career.
Mapping out what you should do financially as you age is a great way to increase your financial well-being. Think of short-term goals as moves that immediately improve your finances. Long-term goals are ones that take years to achieve. Both are necessary for stability.
A good budget aligns your spending with your values. It ensures your money is going toward things that matter to you. Track your expenses for a month to see where your money is actually going. You might be surprised by the results.
How to use the 50/30/20 rule for your new salary
The 50/30/20 rule is a simple budgeting framework. Fifty percent goes to needs like rent and groceries. Thirty percent goes to wants like dining out. Twenty percent goes to savings and investing. This provides a balanced approach to money management.
If your needs exceed 50%, you are living in a high-cost area or house-poor. Look for ways to lower fixed costs. If your wants exceed 30%, you are experiencing lifestyle creep. Redirect that money to your savings rate.
A percentage-based budgeting approach like the 50/30/20 rule allocates specific percentages of income into buckets. This makes scaling your budget easier as your income grows. If you get a raise, the percentages stay the same, but the dollar amounts increase.
How to build a target emergency fund size
An emergency fund protects you from job loss and unexpected expenses. The general rule is 3 to 6 months of living expenses. Single-income households should aim for 6 to 9 months. This provides a critical safety net during career transitions.
Keep this money in a high-yield savings account. It must be liquid and accessible. Do not invest your emergency fund in the stock market. The market can drop exactly when you need cash. You need this money to be stable.
Start small if necessary. Even a $1,000 starter emergency fund can cover most minor crises. Once you reach $1,000, aim for one month of expenses. Build from there until you hit your target. Automate your savings to make this process painless.
How to pay off debt using the avalanche or snowball method
If you have debt, choose a payoff strategy. The debt avalanche method pays off the highest-interest debt first. This saves you the most money mathematically. You pay the minimums on everything and throw extra cash at the highest rate.
The debt snowball method pays off the smallest balance first. This provides psychological wins. You build momentum as you eliminate smaller debts. Choose the method that keeps you motivated. The best method is the one you will stick with.
Once a debt is paid off, roll that payment into the next debt. This is called the snowball effect. It accelerates your payoff timeline. Do not use the freed-up money for lifestyle upgrades until all high-interest debt is gone.
How to build credit and manage taxes at a new job?
Update your tax withholding using Form W-4 and the IRS Tax Withholding Estimator to avoid underpayment penalties. A new income does not directly affect your credit score, but paying bills on time does. Signing bonuses are taxed at a supplemental rate of 22%.
Taxes and credit are two pillars of financial health. A new job changes your tax situation. It also provides income to service debt, which builds credit. You must manage both proactively to avoid surprises.
Failing to manage your tax withholding can lead to a large tax bill in April. Ignoring your credit score can cost you thousands in higher interest rates on mortgages and auto loans. Take control of both early in your new job.
How to update your tax withholding using Form W-4
When you start a job, you fill out Form W-4. This tells your employer how much tax to withhold. If you withhold too little, you owe money at tax time. If you withhold too much, you give the government a free loan.
Use the IRS Tax Withholding Estimator online. Input your salary, filing status, and other income. The tool tells you exactly what to put on your W-4. Update it if you get a raise, marry, or have a child.
Accurate withholding prevents surprises in April. It also maximizes your take-home pay throughout the year. Do not rely on getting a big refund. A refund means you overpaid your taxes and lent money to the government interest-free.
How a new income affects your credit score
Income does not appear on your credit report. However, a higher income makes it easier to pay bills on time. Payment history is 35% of your credit score. A steady income ensures you can meet your monthly obligations.
A higher income also lowers your debt-to-income ratio. This helps you qualify for better mortgages and auto loans. Keep your credit utilization below 30% of your limit. Review your credit report annually for errors.
When you apply for a mortgage, lenders look at your income and your credit score. A high income with a poor credit score can still result in loan denial. Focus on building a strong credit history by keeping balances low and paying on time.
How to handle signing bonuses and relocation stipends
Signing bonuses are taxed as supplemental income. The federal withholding rate is 22% for bonuses under $1 million. State taxes may also apply. This means your net bonus will be significantly smaller than the gross amount.
Do not spend your signing bonus until you receive it. The net amount will be much smaller than the gross amount. Use signing bonuses to fund your emergency fund or pay off debt. Treat it as a windfall, not part of your regular budget.
Relocation stipends are often taxed as well. If your employer offers a grossed-up relocation package, they pay the taxes on it. If not, you owe taxes on the reimbursement. Factor this into your moving budget so you are not surprised by a tax bill. Refer to the Department of Labor for wage and compensation guidelines.
How to navigate mid-career money milestones?
Prevent lifestyle creep by implementing the 50/50 raise rule. Allocate 50% of any new income from a raise to savings before adjusting spending. Manage equity compensation like RSUs by selling them immediately upon vesting to diversify your portfolio and secure 100% of your gains.
Mid-career is when you start earning real money. It is also when lifestyle creep becomes a serious threat. Managing raises and equity is crucial at this stage. Your financial choices now can have lasting effects decades into the future.
In your 30s and 40s, you might be putting down roots in a home or starting a family. Your financial goals will shift. It may be a good idea to consider ways to optimize your protection, debt, and savings. This includes basic estate planning and maximizing tax-advantaged accounts.
This stage is often called the accumulation phase. Your focus should be on aggressively building wealth while protecting your assets. You have a higher income, but also higher expenses. A clear strategy is essential to stay on track.
How to prevent lifestyle creep when you get a raise
Lifestyle creep happens when your spending rises with your income. You buy a bigger house and a nicer car. Suddenly, your savings rate does not improve despite earning more. You feel like you are running on a treadmill.
The key is to automate the savings increase before you see the money in your checking account. If the money hits your checking account, you will spend it. Set up the increased 401(k) contribution to start the same month your raise takes effect.
Review your budget annually. Look for areas where spending has crept up. Cancel unused subscriptions. Negotiate your bills. Redirect that money to your investment accounts. Staying vigilant is the only way to combat lifestyle creep permanently.
The Raise Allocation Rule for promotions
Divide every raise into two halves. Allocate 50% to long-term investments (401k, brokerage). Allocate 50% to lifestyle upgrades (travel, housing). This balances future security with present enjoyment.
This rule ensures your savings rate scales with your income. It prevents you from spending 100% of your raise. It also allows you to enjoy the fruits of your labor. You can improve your lifestyle today while still securing your tomorrow.
For example, if you get a $1,000 monthly raise, invest $500. Use the other $500 to upgrade your lifestyle. This might mean a nicer apartment or more travel. The key is intentionality. You are choosing to spend, not just spending by default.
How to manage equity compensation like RSUs and ESPPs
Restricted Stock Units (RSUs) are company stock granted to you over time. When they vest, they are taxed as ordinary income. Sell them immediately upon vesting. This converts your company stock to cash you can use to build a diversified portfolio.
Selling immediately diversifies your portfolio. You already rely on your employer for your salary. Do not rely on them for your investment portfolio too. If the company fails, you lose both your income and your investments. Use the cash to buy broad index funds.
Employee Stock Purchase Plans (ESPPs) let you buy company stock at a discount. A common discount is 15%. Participate up to the maximum if you can afford it. Sell the stock immediately to lock in the 15% gain. This is a near-guaranteed return on your money.
Equity compensation is a powerful wealth-building tool, but it concentrates your risk. Treat it as a bonus, not a retirement plan. Convert it to diversified investments as soon as you are able. This protects you from company-specific downturns.
How to achieve late-career financial milestones?
Use catch-up contributions for retirement if you are 50 or older, adding $8,000 to your 401(k) limit. Plan for healthcare in retirement by maximizing your HSA. Finalize estate planning documents including a will and healthcare proxy to protect 100% of your assets.
Late career is about maximizing tax-advantaged growth and preparing for retirement. You have less time to recover from market downturns, so stability is key. This stage is often called the pre-retirement phase. Your focus shifts from accumulation to preservation.
Fidelity suggests aiming to save 1x your current income by age 30, 3x by 40, 6x by 50, and 8x by 60. Your personal savings goal may be different. But these guidelines provide a starting point to help you assess your progress. If you are behind, late career is the time to catch up.
This phase requires a shift in asset allocation. You might move some of your portfolio from aggressive stocks to more stable bonds. This protects your nest egg from sudden market crashes right before you need the money. Consult a financial advisor to fine-tune your strategy.
How to use catch-up contributions for retirement
The IRS allows workers 50 and older to make catch-up contributions. For 2026, you can add an extra $8,000 to your 401(k). This brings your total limit to $32,500. This is a powerful tool for those who started saving late.
If you are behind on retirement savings, use this tool. It also lowers your taxable income in your peak earning years. Maximize these accounts before retiring. Every dollar you save now has less time to grow, so you need to save more aggressively.
Do not forget about IRA catch-up contributions. If you are 50 or older, you can add an extra $1,000 to your Roth or Traditional IRA. This provides another avenue to accelerate your retirement savings. Take advantage of every tax-advantaged space available.
How to plan for healthcare in retirement using an HSA
Healthcare is a major expense in retirement. Medicare does not cover everything. An HSA can be used to pay for Medicare premiums and out-of-pocket costs tax-free. This is a crucial part of late-career financial planning.
Do not spend your HSA money during your working years if you can afford to pay cash. Let it grow tax-free for decades. It acts as a super-charged retirement account for healthcare. Once you turn 65, you can withdraw HSA funds for any purpose without penalty. You just pay ordinary income tax.
Estimate your future healthcare costs. Fidelity estimates a retired couple may need over $300,000 for healthcare. An HSA is one of the best ways to prepare for this expense. Max it out every year if you are eligible.
How to finalize estate planning documents
Estate planning is not just for the wealthy. Everyone needs a will. A will dictates how your assets are distributed. It also names guardians for minor children. Without a will, the state decides what happens to your assets.
You also need a healthcare proxy and a durable power of attorney. These documents designate someone to make medical and financial decisions if you are incapacitated. Update these documents after major life events like a new job or marriage. Review them every five years.
Check your beneficiary designations on all financial accounts. This includes 401(k)s, IRAs, and life insurance. Beneficiary designations override your will. If your ex-spouse is still listed, they will inherit the money. Update these forms immediately if your life circumstances change. The USA.gov website offers resources on writing a will.
Career Money Milestones Checklist
- Phase 1: First 30 Days - Set up Paycheck Split System, complete W-4, enroll in benefits.
- Phase 2: First 90 Days - Enroll in 401(k) to capture match, open HSA/FSA, create 50/30/20 budget.
- Phase 3: First Year - Build 3-month emergency fund, pay off high-interest debt, review tax withholding.
- Phase 4: Mid-Career - Apply Raise Allocation Rule, max out IRA, manage equity compensation.
If you are ready to take the next step in your financial journey, consider using tools to project your growth. Explore our Financial Calculators for Life's Milestones to model your retirement and savings goals. For debt management strategies, the Consumer Financial Protection Bureau offers excellent free resources.
Start Your Financial Journey Today
Navigating money milestones at every career stage requires a plan. By using the Paycheck Split System and the Match Multiplier Method, you build a solid foundation. Preventing lifestyle creep with the Raise Allocation Rule ensures long-term wealth.
Take action today. Review your pay stub, automate your savings, and enroll in your retirement plan. Your future self will thank you. The best time to start managing your money correctly was yesterday. The second best time is today.
Frequently Asked Questions
Here are answers to common questions about managing money at a new job.
Is it better to contribute to a 401k or pay off debt?
Contribute enough to your 401(k) to get the full employer match first. Then, pay off high-interest debt above 6%. Use the debt avalanche method. Once the high-interest debt is gone, return to maxing out retirement accounts.
How much of my paycheck should I save?
Save at least 20% of your paycheck. This includes retirement contributions and emergency fund savings. If you cannot save 20%, start with 5% and increase it by 1% every six months until you reach the target.
What if my new job does not offer a 401k?
Open a Roth IRA or Traditional IRA. Contribute up to the annual limit. If you max out the IRA, open a taxable brokerage account. Invest in low-cost index funds to keep growing your wealth.
Should I roll over my old 401k to my new employer?
Roll it over if your new employer's plan has better investment options and lower fees. If your new plan has high fees, roll the old 401(k) into an IRA instead. Never cash it out.
How do I avoid lifestyle creep with a new job?
Implement the 50/50 raise rule. Allocate half of your raise to savings and half to spending. Automate the savings increase so it never hits your checking account. Keep your fixed costs stable.
Does a new job affect my taxes?
Yes, a new job can affect your taxes by altering your tax bracket or triggering under-withholding. Complete a new Form W-4 using the IRS Tax Withholding Estimator to ensure the correct amount of federal income tax is deducted.
What is the 50/30/20 rule?
The 50/30/20 rule is a budgeting framework. You allocate 50% of your after-tax income to needs, 30% to wants, and 20% to savings and debt repayment. It provides a simple structure for managing your money.
How much should I keep in my emergency fund?
Keep 3 to 6 months of living expenses in your emergency fund. If you are a single-income household or a freelancer, aim for 6 to 9 months. Keep the money in a high-yield savings account.