How to Avoid 11 Common Money Mistakes
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.
Congratulations! You graduated from college and landed your first job! It’s an exciting and scary new chapter all rolled in one.
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. No Emergency Fund
When you least expect it, your car may need a repair, you need expensive dental work, or you perhaps get laid off from your job.
2. No Monthly Budget
Now that you’re living a more independent life, you need to have a budget and keep your spending in control.
3. Living Beyond Your Means
Living beyond your income is a recipe for financial disaster. Your goal is to spend less than you earn so you can save money and invest some of your earnings.
4. Getting Rid of Your Roommate
By absorbing all of the costs of rent, utilities, and renter’s insurance, you may be deferring other financial goals that you may have.
5. No Student Loan Repayment Plan
Don’t put off paying these loans or extending the time further into the future.
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