Simple Money Tips for College Graduates

Money Tips for Recent College Graduates

Congratulations on graduating! That is awesome! Now, you are officially a full-fledged adult and you have to start doing adult things, like paying back your student loans. I know the feeling. I am a recent graduate. I dread the fact that I have to start paying back my student loans now that it is November. It is frustrating knowing that this is going to be your life for the next ten plus years. There are some things you can do to make it easier to still save money, though. Here are a few financial tips, from one recent graduate to another:

1.       Refinance Your Loans. Find out what you owe, federal, private and the interest and refinance! There are website and organizations that will help you with it too. You have to do the research to find the source that best works for you, but it will help in the long run when you start paying off the loans!

2.       Save, save, save! I know this one seems like a no brainer, but seriously, find ways to cut your expenses, even if the situation is not ideal. I am living at home again, but I am saving so much by not worrying about rent and utilities! You can also cut on additional expenses too. While I was in college, I was very wary of how I spent my money because I only worked a few hours a week. Keep that same mindset even though you (hopefully) found a job. Just cutting out small expenses can add up and help.

3.       Plan for retirement! I know that your career just started, and last thing you are thinking about is the very end of it, but this is really important. I have been told by SO many people to start planning for retirement right now. (Even my hairdresser told me this while she was shampooing my hair.) This is always overlooked, but it is just as important to think about now. Trust me.

4.       Watch your Credit Card Debt. It might be tempting to use your card for something fun, but be careful how you use your card. Plan and budget for your card so that way you can build up your credit score.

5.       Create an emergency fund and budget too! That way, you can keep track of all of your funds. It can be as simple as making a list of your top money priorities.

It is really important to be smart with how you handle your money, especially now that you are officially a full-fledged adult. And that is scary. But simple tips like these can help shape you into a master with your finances.