Let's face it, graduating from college or university is a exciting , yet frightening step for many. Our parents have been there to help us along the way and there are many student who graduate and feel that they do not not have an understanding of what a non-school world is.
What's a credit score? Savings account? Mortgage? Loan? Investing?
Here is a list of the best things that all young adults should be doing to set them up for a more financially stable life.
1. Get a savings account. (Look for a high-yield savings account. Your money is not earning interest in a checking account).
2. Have at least one credit card. (Beginning to build a good credit history is important).
3. Start investing, is can be extremely easy. (There are apps where you can invest for very little money).
4. If the company you work for offers a 401k and you qualify for it, do it!
5. If you have student loans, look at how much you owe and make a repayment plan. (The grace period goes by quicker than you would think).
6. Get in the habit of creating weekly/monthly budgets.
7. Have an emergency fund that is enough for a couple of months, and is never touched unless necessary!
There is a lot more to be said on the topic so it is important to become more educated on personal finance.
