Ready? Set? Go (NOW)!
Virtually every money manager agrees: Don’t wait another moment to start thinking about your finances. “It’s never too soon for young people to start thinking about managing their finances—no matter how difficult that is to contemplate when they’ve just graduated,” says Krista Neeley, a regional vice president of Appreciation Financial a financial services company.
Live on less
Of course, starting to save may be easier said than done. “After four or five years of delayed gratification [during college], there is great temptation to pursue a lifestyle,” says Vic Patel, founder of Forex Training Group. “The problem is, when you have no real purpose for your money other than chasing a lifestyle, you end up using every extra dollar you earn in the pursuit of more.” Patel suggests, instead, a policy of consciously “living beneath your means. Allow some of the frugality you learned in college to spill over in real life…It’s a habit that will serve you well.”