Graduating From College? Six Financial Steps to Start Now

WDC NEWS 6 STAFF March 20, 2025

15 3 minutes read

Graduating From College? Six Financial Steps to Start Now

Graduating from college is a big step in your life. You have your whole life ahead of you, and you feel empowered to take the world by the reins. There will be many exciting new paths you can take: getting a new job, moving to a new city or state and, for many, maybe even buying your own place. But before you start on this big adventure, it’s important to first begin by getting your finances in order.

While not necessarily as exciting or fun as traveling the world, ensuring you start off adulthood with a stable financial footing can help make sure you’re able to fund all these new opportunities coming your way and still have the safety and security you need to lead a successful adult life.

If you’re graduating within the next few months — or even within the next year or two — consider the following advice from the financial experts of Kiplinger Advisor Collective to start checking off your financial to-do list and get a head start on living the life you’ve been dreaming of.

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Develop a plan for retirement
“The sooner you start investing for retirement, the better off you will be when that day comes. Open up an IRA, Roth and/or a 401(k) and start diligently investing. Even if you can only invest a fraction of the allowed limit, when retirement comes, you will be miles ahead of your peers thanks to the effects of compound growth.” — Greg Welborn, First Financial Consulting

Save cash for emergencies
“These days, having enough cash to ride out emergencies is important. If you can buy high-yield savings bonds, or even yield-enhanced money market funds that are safe to park your cash in without losing it, that would be better. You need to keep some liquidity so you can take advantage of opportunities that may come along in the near future.” — Zain Jaffer, Zain Ventures

Understand how you support your values with your money
“Hone your spending skills by paying attention to how you use money day to day. Start to name your values and keep an occasional spending diary to consider how your spending supports those values. Getting clear on how to use money to support your values early will insulate you from looking to outside sources for the ‘right’ ways to use and manage money, which most likely won’t be exactly ‘right’ for you.” — Dana Miranda, YOU DON’T NEED A BUDGET

Start to pay yourself first
“Build the habit of paying yourself first. A mentor once told me, ‘If you don’t save now, you never will.’ Even if it’s just $20 a month, start early. I’ve seen young professionals delay, thinking they’ll save later — but later rarely comes. Automate savings now, when opportunities, not financial stress, define your choices.” — Bob Chitrathorn, Wealth Planning By Bob Chitrathorn of Simplified Wealth Management

Improve your credit score
“Build your credit as soon as possible. Adulthood hits fast, and your credit score affects everything — renting, buying a car and even some job opportunities. Open a low-limit credit card, use it for essentials and pay it off in full each month. Good credit saves you thousands in interest over time, so start now, be smart and set yourself up for financial freedom early.” — Justin Brock, Bobby Brock Insurance

Build your financial discipline
“Develop a savings and investment plan to prepare for any emergencies and opportunities, and be sure to build wealth for the future. It’s never too early to plan! Financial discipline leads you to higher credit scores and more favorable interest rates for loans.” — Marguerita Cheng, Blue Ocean Global Wealth

The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation.

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