I was lucky enough to have the financial support of my parents throughout college, and though that helped big time, I still struggled with money after graduation. And if I had a hard time, then I’m sure those supporting themselves during college have it even tougher (p.s. respect!). Looking back, there are so many things I wish I would have known, or did know and wish I had done. From being smarter about credit cards to making extra cash, here are general tips on being smart with finances after graduation. I hope they help!
For most of us, this is brutally boring information, but it’s something you’ll need to know throughout adulthood—no matter what. Whether it’s recruiting your parents or the cute money-savvy boy next door, listening to seminars, or finding your own financial advisor (maybe you and a friend can split the bill?)—educate yourself. The more you understand about debt-to-income ratio and your credit score, the better, and the more painless the rest of your financial journey will be. I promise!
Avoid (more) credit card debt
It’s crucial that you take steps forward not backwards in being financially successful once you graduate. This means your credit cards should be used sparingly unless your post-grad income allows you to pay off your balance in full every month. (Something I learned the hard way—don’t spend what you don’t have, it’s as simple as that!) If you have debt that you racked up in college, don’t freak out, a lot of people do, but there are resources to help you knock it out ASAP. I’ve heard Dave Ramsey’s Total Money Makeover is a little cray, but that his plan is effective....