Whether you’re a soon-to-be college graduate or actively looking for your first post-college job, we’ve compiled a few financial tips to help you get started. It’s never too early to learn about money, savings, and budgeting.
Essential Financial Tips
Most of us will undergo some form of financial tutoring while in school, but most schooling systems do not prepare you for financial situations as an adult. We’re here to make up for the failure of modern financial education.
- Start saving for your retirement as soon as you have a stable income. Once you land your first job, consider contributing to the company retirement plan. Even if you’re only putting in $25 a month, that’s something. You can also set up an IRA at a local credit union if your job does not offer a retirement plan.
- Start investing in your savings now. If you’ve never learned about investing, it can be challenging to get started because of your own inhibitions. But leaving your savings in a bank account and forgetting about it allows inflation to whittle away at your money. Instead, consider various forms of investment.
- Early on, you’ll want to create a firm budget and stick to it each month. You can use free budgeting software available online to create a monthly spending report, then track your expenses for absolutely everything.
- Pay down your student loans as fast as possible. Each month, the loan company will send you a bill for a specific amount. If possible, put down more on the loan to pay it off sooner.