graduateLife after college is bittersweet. This time, you’re on your own, you cannot ask for financial assistance from your parents, you need to do things on your own, find a good job, make more money, etc. However, there are college graduates who still fail and end up struggling in life, because saving money is not on their priority list. Do you happen to be one? Here are some of the essential money saving tips for you:

1. Start your budget - the first step for you to handle your money is to understand where it is coming from and where it should go. You need to stick to your monthly budget plan for a long-term financial health. Since you are a member of the modern generation, you should put your phone to a good use, download a useful personal finance app and track your spending, account balances as well as a credit on the go.

2. Live within your means - it’s tempting to go for happy hours, dine out and expensive exercise classes are fun and tempting, most especially when you start receiving your paychecks. However, these are luxuries and it could blow off your budget fast. It’s not bad to treat yourself, but you should do it responsibly.

3. Pay off your student loans - While it is a bit tempting to make the minimum monthly payments, you can always consider the aggressive repayment plan. When you pay off your loans sooner, you’ll be paying less interest, and that you can have extra money that you can put into your saving or give yourself a good treat.

4. Establish your emergency fund - emergency funds are essential for your life. There will always be unexpected as well as costly events, so it’s always ideal to have one. Whenever you lose your job, you got injured, your emergency fund is the safety net that will surely give you a peace of mind.

5. Start planning for retirement - this may sound a bit odd to you, but it’s never too early for you to start saving. You should automate your savings so that a portion of every paycheck directly goes into your savings account.

6. Pay bills on time - you should make your payments on time in order to avoid late fees as well as negative impacts on your rating. In order to avoid these late payments, you should consider scheduling some sort of automatic payments and set calendar reminders before your due dates.

7. Track your credit - you should start building credit and a good credit score. This will show that you’re a responsible borrower and somewhat worthy of loans for purchases such as a car or a home. In order for you to maintain a good credit, you should keep your oldest credit card open and pay your bills on time.

Taking these tips is essential to help you get a good and stress-free life after college.

/wp-content/uploads/2015/08/graduate-110x110.jpg/wp-content/uploads/2015/08/graduate-110x110-133x133.jpgMartin B.Financial Literacy
Life after college is bittersweet. This time, you’re on your own, you cannot ask for financial assistance from your parents, you need to do things on your own, find a good job, make more money, etc. However, there are college graduates who still fail and end up struggling in...