Avoid These Common Money Mistakes After Landing Your First Job

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Congratulations! You graduated from college and landed your first job! It’s an exciting and scary new chapter all rolled in one. You’ll be making some serious money for the first time in your life, but you’ll also be responsible for some serious adult bills.

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Before you sign a lease for an apartment or purchase a new car, avoid the most common money mistakes made by college graduates.

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We have assembled a list of blunders to steer you towards a financially fit future.

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No Emergency Fund

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Chances are you were living on a meager financial diet at college, where students find frugal ways to get by. Now that you’re living a more independent life, you need to have a budget and keep your spending in control. Don’t get rid of all your ramen noodles until you have a fully-funded emergency fund set up!

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Living Beyond Your Means

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After graduating college, the last thing you may be thinking about is living with a roommate again. However, your housing costs are going to be a significant portion of your budget. Are you ready to hand over most of your hard-earned paycheck to your landlord?

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Swipe Up

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Avoid These Common Money Mistakes After Landing Your First Job

Congratulations! You graduated from college and landed your first job! It’s an exciting and scary new chapter all rolled in one. You’ll be making some serious money for the first time in your life, but you’ll also be responsible for some serious adult bills.

Before you sign a lease for an apartment or purchase a new car, avoid the most common money mistakes made by college graduates.

We have assembled a list of blunders to steer you towards a financially fit future.

No Emergency Fund

Commit to building up an emergency fund that can cover six months of your basic living expenses. You can open interest-bearing savings account like an FDIC insured money market deposit account (MMDA) just for this purpose. This way, the money is readily accessible and earns a little interest.

No Monthly Budget

Living Beyond Your Means

When you strike out on your own, you may find your newfound freedom is costly. Put the brakes on large or repeated impulsive spending. Living beyond your income is a recipe for financial disaster.

After graduating college, the last thing you may be thinking about is living with a roommate again. However, your housing costs are going to be a significant portion of your budget. Are you ready to hand over most of your hard-earned paycheck to your landlord?

Getting Rid of Your Roommate

Swipe Up

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