Congratulations on landing your first post-graduation job.
Even if you received a stellar education, university courses don’t usually incorporate information about basic financial literacy.
A few simple steps will help you get on the right track to managing your finances.
First things first: If you don’t already have one,open a checking account.
It’s easy, convenient and can help you avoid a bank’s monthly maintenance fees.
Without a financial game plan, it can be too easy to overspend.
In fact, your budget can be a loose set of guidelines or allocations.
Read more:What Does It Even Mean to Build Wealth in 2022?
Preparation is best when you start early, and you might start an emergency fund with your next paycheck.
And the funds should be easily accessible, kept ina high-yield savings accountor money market account.
Contributions are taken from your pre-tax income and invested in the stock market.
Some employers may match your contributions up to a certain percentage of your income.
If yours does, take advantage of it – it’s free money.
All of them offer tax advantages that will enhance your financial position.
One of the quickest and easiest ways to do it is to get a credit card.
(Here’show to pick the right one for you.)
Credit cards let you borrow money to purchase goods and services.
