628 Financial tips and laws for today and tomorrow

Here are the best tips to manage your finances as a new graduate.

Tip 1: Start your retirement savings already

Set up your 401(k), IRA and/or another retirement account and begin investing ASAP. Even small amounts count.

Tip 2: Set aside emergency money

Emergencies come unannounced, so begin saving for that separately, like with a money market fund or high-yield savings account.

Tip 3: Focus on building credit

Make timely bill payments, use credit cards responsibly and maintain sound financial habits to build and hold a high credit score.

Tip 4: Use the Pay Yourself First strategy

Make it a habit to first set aside a small amount each month into your savings account and then pay other expenses.

Tip 5: Learn financial discipline

Stick to your budget, investment and savings plan religiously–consistency builds wealth.