10 Tips For Managing Your Money After College

  • Use the 6 months before Student Loans come out to pay off credit card debt and to start your savings

    • This is called a GRACE period for a reason. Use it.

  • Don’t immediately buy a new car.

    • if you already have a car, keep using it and save up for a sizable down payment on a vehicle.

    • If you don’t have one, check out public transit options and if you have to buy a car, buy used. Then save for something better.

  • Save, Save, Save

    • You never know when an emergency can happen.

    • Most people out of college job hop, having that extra bit of money will come in handy if you find yourself with a little bit of time in between jobs

  • Know your credit score

    • Most credit card companies have it as part of your account

    • Better scores means more purchasing power

  • Minimize your subscriptions

    • Do you really need Hulu, Netflix, Apple Music, Spotify, ipsy, an unused gym membership? More than likely no. If you don’t think it’s a lot of money. Look at the annual cost for all you have and run the numbers

  • If you have the opportunity, save money by living with your parents for a while

    • Its not the most ideal, but if your parents are as cool as mine, then it’s no problem.

  • Budget, Budget, and budget again

    • If you can maximize your income at any level, you can achieve your goals.

    • If you can manage your entry level income, then you won’t be wasting your 5+ year income

 
 

  • Start investing in your retirement now

    • The more you save now, the more you’ll have in 30 years.

    • Also, as a PSA, learn what kind of retirement plan works best for you.

  • Learn how to save money by not spending money

    • Groupon, Coupons, clearance racks. These are your friends.

  • Enjoy having an income.

    • Be responsible, but know when to treat yourself. You worked hard for this career, celebrate it.

Briana Fountain