For many college graduates, the first few months in the “real world” can be quite the transition. During this time, grads may be searching for a job, moving out, or moving to a different city. No matter what the plan is for post-graduate life, it’s important to keep finances in check. Here are five simple money saving tips:
1. Move in with Parents
If you have the option, moving in with your parents can save an abundance of money. Even if your parents require you to pitch in, it will still be cheaper than spending money on rent, water, utilities, etc.
2. Create a Budget
As you begin working full-time or part-time, take note of how much money you have coming in and how much you are spending. Creating a budget allows you to stay on track with spending. For more information on how to create a budget, check out this website.
3. Sell Old Items
If you have lived in a dorm or off campus housing, more than likely you have acquired some furniture and decor you no longer need. Hosting a yard sale can bring in extra cash and help you get organized for the future. Get rid of those unused textbooks and sell them to get some extra money.
4. Enjoy Free Events
Instead of going out to eat every night or spending money on summer concerts, enjoy free shows or take advantage of special dinner deals on certain nights of the week. Being aware of special events in your community can help you have a great time and save a fortune.
5. Start Planning for the Future
If you haven’t already, open a savings account that can be your safety net. Start putting money away as soon as you have a job or receive money from graduation, summer job, etc. This account will be helpful in the event of a job change, relocation, or an unexpected charge like maintenance for your car.
Graduating college is a huge milestone and is something to be proud of! No matter what the next step is, getting ahead and saving will allow you to be even more successful in the future.