College Graduates: Build Wealth by Avoiding 11 Common Money Mistakes After Landing Your First Job
1. No Emergency Fund
Commit to building up an emergency fund that can cover six months of your basic living expenses.
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.
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
Sharing expenses with a roommate, you may not see very much may provide you with worthwhile savings.
5. No Student Loan Repayment Plan
Don't put off paying these loans or extending the time further into the future. Go for the standard repayment plan with equal monthly payments up to ten years.
6. Ignoring Your Company Freebies
There are different types of benefits that add meaningfully to your compensation. As a new employee, you may overlook some essential features trying to make sense of it all.
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