College Graduates: Avoid 11 Common Money Mistakes After Landing Your First Job

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

1. No Emergency Fund

In this next phase of your life, it’s essential to save money, specifically for emergencies.

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.

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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

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Sharing expenses with a roommate, you may not see very much may provide you with worthwhile savings.

5. No Student Loan Repayment Plan

It’s a good idea to schedule automatic debit payments from your bank account and linking your paycheck deposits.

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