First, don’t get overexcited by what seems like a substantial amount entering your bank account. It's very easy to see it and splurge, absolutely – but remain calm.
You may want to allocate your weekly expenses, like rent, so that you don't find yourself in a pickle in week four or even week three of the monthly pay cycle. Some like to look after weekly expenses all in one hit (so that there's no room for error down the line) by immediately deducting it into another account, and having that account do the weekly transactions in the background. The alternative is setting up weekly deductions to your landlord as normal, but you'll really need to trust that the money will be there every week.
The good thing about monthly pay, and there is one, is that there are a lot of things you're probably paying for that come out by month, like gym and Spotify memberships, or your phone bill and insurance. There's so much less brain work required here for that reason, unless it happens to come out somewhere rogue in your pay cycle.
If that's the case, what you'll want to do is work out when all these deductions happen in the cycle and what they add up to, so that you can do the immediate deduction at the start of the month like you do rent. That amount can go into a separate account that will similarly do the deductions for you in the background.
Another good thing about this is that you can get an overall picture of how much your subscriptions and such are costing you all up, and where you could probably be saving. Because once you make all these deductions at the start of the month, how much do you even have left for, you know, life?