Where Are Your Finances Headed After Graduation? | Jefferson Credit Union

While you might think some money paths are best left to those who have been in their career for a few years, the team at Jefferson Credit Union wants you to realize that taking care of your financial health is something you should start before you even graduate from college this spring.

Do You Have Your Financial Cap and Gown Ready?

In a couple months, you’re going to head out into the “real” world. There’s one thing you want to make sure you pack with you when moving on with life after graduation—solid financial health. Here are some tips to help you get started before graduation this May.

First, start counting every penny. Maybe you already have a job lined up after graduation; maybe you are still on the job search. Either way, you will soon find yourself receiving your first “real” adult paycheck, and with that comes added responsibility. Even though your brain might not currently be focused on retirement, one day it will be. Therefore, start contributing to your 401(k) or other retirement fund from the moment you begin your first job.

Second, start a list of all debts you have, including student loans, and figure out how you can pay them back as quickly as possible. Paying down debt isn’t easy, but it’ll be worth it in the end.

Finally, start building a good credit score, if you haven’t already. Do you already have credit cards? If so, that may be one of the items you’re paying down. If not, open one credit card with reasonable fees and make small purchases with it. Each month, pay off the total in full. This will help you build your credit so that you’ll be able to purchase a car or a home in the future.

Are you ready to start saving by putting your graduation money in the bank? Visit our Jefferson Credit Union website to learn about our savings options to help get you started on a healthy financial track in life.