Higher Ed Utah

Post-college life and money. Yeah, it’s kind of a tricky thing to handle sometimes. Being in college, you might be used to living on a shoestring already, and it’s generally a good idea to continue being frugal once you graduate. Once the thrill of being done with all-night studying and last-minute essay writing fades, you’ll probably want to focus on getting a job and settling into whatever it was you were studying for. Here are some excellent tips from a recent New York Times article about how to handle post-graduate finances.

• Health insurance: if you can land a job with benefits, excellent! If not, you might be able to stay on your parents’ health insurance until you are 26. Having an insurance plan is always a good idea, if possible. One big health crisis can set you back financially, sometimes for years.
• Banking and debit cards: read thy disclosures now, and save thyself from pain down the road. Know what kinds of fees are charged, especially if your bank lets you overdraft your account.
• Credit cards: see above. Reading disclosures thoroughly is a very, very good idea. Make sure you know what you’re getting into before you sign up for a new credit card.
• Student loans: know your options! Average student loan debt loads have climbed dramatically in the past years, and handling it wisely can save you a lot of grief, not to mention preserve a good credit score. Keeping in touch with your student loan servicer will give you an avenue to ask questions and find out about the best repayment choices.

No matter what you do, the choices you make with money in your post-graduation months will have an impact on your life for years to come. Put your newly minted diploma to work and make wise decisions!