Graduate with Money!

It has been a long four years, but the day has finally come: graduation day! Finally, you will be out in the workforce, making money, and living your own life! But before you start running out shopping for a new car, a new home, a new wardrobe, it is time to start thinking as an adult—which means getting smart about spending your money.

Start Saving Now

For some, the first paycheck you obtain from your first job will be the largest amount of money you’ve ever received. Therefore, it can be tempting to go out and vigorously spend all the money you just made, especially since you are thinking the next big payday is just around the corner. However, thinking like this and starting these bad money habits can cause a lot of financial distress in the future, even though it provides immediate gratification.

Instead, start exhibiting smart money habits from the moment your first paycheck is in your hand. Begin by putting a certain percentage back from each paycheck for a rainy day. Keep this money in a designated spot, such as a savings account, so that you are not tempted to spend it.

Also, invest in a retirement plan. You may not be thinking about retiring right now, but one day, you will. And when it comes to your retirement account, time is money! The more time you invest, the more money you have for your retirement. So start putting back retirement money now to enjoy the fruits of your labor later.

Do not put off investing in yourself when it comes to earning your money after graduation. We offer a number of personal savings options, including IRA, money market accounts, and personal savings accounts, to help you build your cushion. Contact us today to learn more!