Financial Tips for New College Graduates – A Cheatsheet for Managing Your Money

April 30, 2008

Were you in class the day they handed out the financial tip sheet?  You know, the one that covered how to buy insurance, invest your money, pay off your student loans, manage your credit cards, and budget out your new salary?  I think most of us missed that day so here’s another copy you can use to make your money work for you.

They say it’s pretty easy for college students to manage money. When you’re in school, you’re usually so broke that there’s no money to manage!  The thing about college is that everyone pretty much expects you to have no cash, to scrape by on a part time job and student loans.

Suddenly, after graduation society instantly wants you to become financially responsible:

  • No more sleeping through class, now you have to get up and go to work. 
  • No more borrowing thousands of dollars a year, now you have to start paying back your student loans.
  • No more student tax credits, now you’re earning real money and the government wants their cut.

These realities can be a rude awakening, some mornings you’ll think about adding another major and going back to school for a few more years, just to get away from all that responsibility.

Making Your Money Work for You
Of course, the good news is that now the money’s rolling in.  You spent all those years learning a profession and now you’re hard work pays off each month when you get a paycheck.  If you have to get up and go to work every day, why not make the money you earn go as far as it can?

This financial cheat sheet series can help you with that.  We’ll cover some things you may not have picked up in school or maybe tips you already know but could use a refresher.  The good news is that a lot of personal finance just boils down to understanding the key concepts and using common sense.  Below are the topics we’ll take a look at, stay tuned for the financial coverage:


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Ben Edwards, the founder of Money Smart Life, saved up enough to buy a Nintendo back when he was 12 years old. When he used the money to buy shares of Wal-Mart stock instead, he knew he wasn't like the other kids... His addiction to personal finance has paid off for his family and now he's helping you to afford the life that you want. Check him out on the web at Google Plus, Twitter and Facebook.

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