College Graduates: Build Wealth by Avoiding 11 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.

1. Delaying Investing

A regret I share with many people is not investing earlier. The best time to start investing is now, even in small increments. When you are young, you have time on your side, so don't waste it.

Building a good credit score may not even be on your radar. But if you want to rent your own apartment, purchase a car, or buy a home in the next couple of years, having a good credit score is crucial.

2. Ignoring Your Credit Score

3. Racking up Credit Card Debt

Credit cards can be beneficial but can tempt college students and recent graduates beyond your means. It's fun to collect credit card rewards, airline miles, or cashback. However, they can also be financially toxic if you don't handle them with care.

You're young and healthy and rarely think about big doctor’s bills. Should you break your leg skiing or hurt yourself playing basketball, you may be looking at a very high bill if you don’t have health insurance.

4. Skipping Health Insurance

5. Ignoring Your Company Freebie

Beyond the paid vacation, holidays, and sick time, look for perks like flexible work options, paid gym memberships, professional development grants, or student loan repayment programs that will directly benefit you.

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