5 Money Saving Tips for College Grads

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.

Social Media Security

Welcome to Stock Yards Bank and Trust official blog, SYBSince1904! Join us every other week for great information regarding the financial services industry and tips and tricks to save you time and money. This week, we are focusing on social media security.

Do you have a Facebook account? Twitter profile? While it is great to have these profiles to connect online, it is important to make sure you are doing everything you can to protect your identity and your online accounts. Fraud Prevention Manager, Nancy Flowers, has helped us compile these ten tips to keep you safe on social media:

1. Change passwords frequently. When creating your password, make sure that it is at least eight characters long, and that it includes many letters, numbers, and symbols. To ensure your password is secure, update and change the password every 3-6 months.

2. Be cautious with links. Oftentimes, friends will post interesting video links or news stories on your Facebook newsfeed. Many of these links could contain a virus which can be harmful to your computer or mobile device. Instead of clicking on the link, move out of Facebook and into your internet browser to view the video or article through Google. Typing in the key words should take you to the link you are looking for.

3. Set up Facebook alerts. Enable Facebook to send you a text message, email or notification each time someone logs into your account from a new place.

To turn on alerts:
• Click the drop down arrow at the top right
• Select “Settings”
• Top left select “Security”
• Click the “Login Alerts” section
• Check the box next to the type of alert (ex: text message) you’d like to receive
• Select “Save Changes”

4. Understand your privacy settings. Select a “private” setting and check periodically for changes or updates.

5. Be selective when accepting friend invites.  Ensure that whoever you are adding and accepting as a friend is someone you know and trust as they will have access to your profile.

6. Verify authenticity of messages. Don’t automatically assume that a message is from who it says it’s from.

7. Make sure your security software is up-to-date. Antivirus, anti-spyware, anti-spam, and malware will ensure your safety online.

8. Everything is permanent. Use the mindset that anything you post on social media will be on there forever. Even though you may delete a post or photograph, it is not truly gone.

9. Do not believe everything you read on the internet. Be smart and research!

10. Google yourself. Periodically “Google” your name – web and images.

Visit our website for additional information regarding banking security. How do you stay safe online? Comment below with your tips.