Letter to New College Graduates About Money

To become successful, you’ll need to take calculated risks, learn from failures, build effective relationships, and thrive in a world where the exact path isn’t laid out for you.

Letter to New College Graduates About Money

For individuals in this situation, you have one massive advantage on your side. TIME.

Minimize Lifestyle Inflation

If you are already used to being broke, don’t increase your lifestyle to match your new paycheck. Try to live like a college student for as long as you can.

Automate Your Finances

Automating your finances can be a substitute for a budget if done right. This approach will require more self-discipline, so you’ll have to know yourself before going this route.

Start Investing in Retirement Accounts

Getting started will put you in the habit of investing to hopefully increase your contributions as you reduce debt or increase income.

Pay Off Your Debt

The important point is even if you aren’t paying debt immediately, do your best to set the foundation so you can increase the gap between income and payments as your income increases.

Money Advice for Recent College Graduates

Make a promise to yourself to keep lifestyle inflation low if your income increases in the future.

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