<prompt> Human: Raising a young family of 5, supporting them on 20,000 a year. Food stamps helped, but less than 300 per month was not taken up by true needs rent, electric, internet, water, food, car. This situation forced me to cripple my credit, but I do not have any debt.Recently landed a job for 62,000 per year.What are some dos and do nots I should be aware of? Do I go to a financial advisor? Can I buy a BMW? Any advice is appreciated.  <response>: Do not go to a financial adviser, that is a wasted expense 62,000year. I would suggest not buying a BMW. Create a monthly budget, setup an emergency fund with min. 3 month living expenses, and begin contributing 401k, Roth IRA, etc. Coming from living off 20k to 62k you should be able to save a very generous portion of your new income. 