Financial expert suggests 4 things to do immediately after graduating from college

There are people who immediately go to work, enter a truly independent life, start paying their own bills, find affordable housing, find ways to stabilize their jobs and income...

There are many things that can make new graduates feel overwhelmed, especially when it comes to money matters. However, this is also a golden time to start building a solid financial foundation for the future. This requires young people to know how to start right.

Here's advice from financial experts for new graduates:

Personal financial control skills are very important for new graduates (Illustration: Leoai).

Build an emergency fund

Financial experts always emphasize the importance of an emergency fund, which is money that helps you deal with unexpected situations such as illness, unemployment, broken furniture...

American financial consultant Adrienne Davis advises young people to get used to an effective way of saving money. That is, prioritize depositing money into a savings account as soon as you receive your salary, instead of waiting until the end of the month to see how much is left over from your salary to save.

"When I first graduated, I would rather miss a trip or a dinner date with friends because I needed to prioritize saving on schedule than not have a backup in case of an emergency," Davis says.

Experts often recommend that everyone should have an emergency fund equivalent to at least 3-6 months of living expenses. Learning how to save little by little is a necessary first step for young people to get into the habit of saving for the future.

Take control of your lifestyle upgrades

When they have a stable income, many young people easily fall into the trap of "upgrading their lifestyle". They start spending more on enjoyment, making the extra salary meaningless.

American financial expert Haiyan Huang advises that before young people want to spend on non-essential things, they need to make sure they have fulfilled their financial obligations, such as paying bills, required expenses, debts that are due...

As soon as they generate their first income, new graduates need to create good spending habits (Illustration: Leoai).

Expert Adrienne Davis also encourages young people to use spending management apps to understand their cash flow and income and expenses. Expert Davis herself also went through a period of wasteful spending because she did not know how much she spent and what she spent it on.

Save money for retirement as early as possible

Although retirement may seem far away, saving money to prepare for a financially secure old age is something you should do as soon as you start earning an income. You should also participate early in pension and insurance programs at your workplace.

Consider the financial trade-offs

Expert Adrienne Davis notes that personal financial security always requires trade-offs. You may want to buy a new car or rent a nicer apartment, but if it puts you in debt, is it worth it?

You need to think about your future self. Will your current choices lead to financial crisis in the future?

Expert Haiyan Huang suggests that young people should make a habit of writing down their daily expenses to have a clearer view of how they spend their money. From there, they will make better decisions from going out, shopping to making long-term financial plans.

Source: https://dantri.com.vn/giao-duc/chuyen-gia-tai-chinh-goi-y-4-viec-can-lam-ngay-sau-khi-tot-nghiep-dai-hoc-20250507153717344.htm