You've just graduated, and now you're facing something you didn’t learn: how to manage your finances. This article will go over 20 financial tips for new college graduates to start good financial habits.
Tip #1: Make a Solid Budget
The first step to sound financial management is creating and sticking to a budget. I know the word budget is a four-letter word to some. I like to call it a spending plan.
Tip #2: Keep an Eye on Your Debts
Write all your debts that have a remaining balance and their interest rate. You want to have your eyes opened and aware of all your debt so you can see where you can make positive progress.
Tip #3: Don't Ignore Your Student Loans
Student debt is not the first thing you think about after college graduation. Recent college graduates should apply for an income-driven repayment plan. Talk to your student loan servicer to lower your student loan payments.
Tip #4: Clarify Your Goals
As a college student, you had goals about your major, GPA, and graduation goals. Now it’s time to start thinking about what you want for your personal finance future.