Welcome to the rewards and challenges of managing your own finances. You've landed your first real job after school. You may be moved into your first place of your own. You've got a ton of new responsibilities, including paying for health insurance and health care.

Why you need a health budget
You go to the dentist, right? And buy aspirin? These are health care expenses, and the better handle you have on what you spend, the less likely you'll be surprised when the bills come due. And with health care costs growing like crazy, we're not talking chump change. Be prepared… build a budget.

Look at health plans with high deductibles
Most people your age only see the doctor once a year for their annual exam, and they may get an occasional prescription filled. If that sounds like you, a health plan with a high deductible (the amount you pay before your insurance kicks in) and lower monthly premiums is probably the most economical option. The Family Health Budget tool can help you add up your costs and see if one of these plans might work for you.

Look into a health care spending account
If you have almost any kind of health care expense — and who doesn't? — you'll want to open a health care spending account. These accounts let you use tax-free income to pay for a wide range of health care products and services. Because you're using money that hasn't been taxed, it's like getting a discount on the stuff you have to buy anyway.