I Just Graduated, Now What?

Congratulations class of 2024, you did it! This is a freeing and often confusing moment in life for most. While some may be well equipped to venture into the real world and begin to “adult” most may be in need of some guidance. Whichever category you place yourself in, this blog article will provide you with some direction, so you can be on your way to your next journey.

Establish Emergency Savings Account

First up, you should consider creating (if you haven’t already) an emergency savings account. Life presents with some problems that are–more often than not–unexpected. Thus, opening a savings account will serve as a cushion in times of hardship, allowing you to deal with the issues at hand rather than worrying about money. You do not need to save thousands of dollars a year, in fact saving does need to be a burden at all. A couple of hundred dollars a month or every few months can really add up in the long term and contribute to a meaningful amount. Opening a savings account is also straight forward, especially if you already have a checking account. To open one with HUECU, head on over here to learn more.

Pay Down Student Loans

Some of you may have graduated debt free (woo!), but many graduates often leave with not only a diploma, but a hefty student debt to pay off as well. If you relate to the latter, it is best to start planning how you will pay down your student loans: the earlier the better. Depending on where you got your loan, if your financial institution is anything like HUECU, then they may be willing to work with you to help you customize a plan to pay off your loans.

Build Your Credit and Start to Invest

As you may already know, you need good credit to make big purchases in this country, such as buying a car or a home. If you did not have a credit card throughout college, or if your credit score is not where you want it to be, then now is the time to work on your credit. One of the most critical things to remember about a good credit score is making all your payments on time. In doing so, you will be able to establish yourself as “credit worthy.” To learn more about how credit works and how you can set yourself up for success in this area, check out HUECU’s Wintersession on navigating credit. You should also begin to invest, so that your money can start to work for you and build wealth. To learn more about how to get started in investing, check out HUECU’s Wintersession on investing!

Save For Retirement

And last up, we have retirement. Retirement seems like light years away, but it will creep up on you before you even know it. The wisest thing you can do after graduation is begin to plan for retirement, so that by the time you are ready to enjoy your senior life, you will not have to worry about money. It sounds intimidating at first, but the best part about starting early is that you can get away with saving a bit less every month or so because you have a lot of time for the interest to compound. Therefore, you will be able to have more money to allocate to other parts of your life. Check in with your financial center or GreenPath Financial Wellness to create a budgeting plan to save for retirement.

If you haven’t already gotten a head start on the things mentioned above, no need to fret. This is the perfect moment in your life to begin working on your finances and future wealth. Everyone is on their own path and working at their own pace, so do not feel discouraged if you feel like you are behind, because you are not. We wish you all the best in all your future endeavors and invite you to learn more about HUECU!