YOU’VE GRADUATED. NOW WHAT?

So you've graduated. Now comes that thing you've always worried about... Going to work, paying bills, and essentially becoming an independent person. Sure you've been independent as you went to school, but somehow this is different.

Well don't worry. It really isn't all that different, except if you're lucky, you are making more money. I remember how wonderful it was to get that first real check. What to do with that money!!!! Obviously I am never going to pay off my school debts until I'm 110 so no sense worrying that, but I sure could use a new car.....

Whoa Whoa Whoa.

The biggest lesson I learned is that we quickly live up to our income. The money never seems to be enough and I was quickly wondering when I would get a raise. So what is my advice? Well the best thing I ever did for myself was start to save 10% before I bought or paid anything. This simple concept took me 10 years to figure out, it was my biggest mistake, and the best thing I ever started to do once I figured it out.

Have 10% of your check directly deposited into separate bank account. Commit to yourself you will not touch it for 5 years. You will be amazed what that will do for your comfort level, your financial confidence and in the end for long term financial health.