Issue link: https://viewer.e-digitaledition.com/i/847273
AACreditUnion.org | | 09 ou did it. You graduated from college. Congrats! Just because ou did it. You graduated from college. Congrats! Just because ou did it. You graduated from college. Congrats! Just because ou did it. You graduated from college. Congrats! Just because you've put the books behind you and landed your fi rst big job you've put the books behind you and landed your fi rst big job you've put the books behind you and landed your fi rst big job you've put the books behind you and landed your fi rst big job doesn't mean your fi nancial issues are over. In fact, now is the doesn't mean your fi nancial issues are over. In fact, now is the doesn't mean your fi nancial issues are over. In fact, now is the doesn't mean your fi nancial issues are over. In fact, now is the time to ensure you're being smart about your money. time to ensure you're being smart about your money. "You can really set yourself on a path to success by managing your money "You can really set yourself on a path to success by managing your money "You can really set yourself on a path to success by managing your money "You can really set yourself on a path to success by managing your money "You can really set yourself on a path to success by managing your money "You can really set yourself on a path to success by managing your money wisely in your 20s," says Kimberly Palmer, senior money editor at wisely in your 20s," says Kimberly Palmer, senior money editor at wisely in your 20s," says Kimberly Palmer, senior money editor at wisely in your 20s," says Kimberly Palmer, senior money editor at U.S. News U.S. News U.S. News U.S. News & World Report & World Report & World Report & World Report and author of fi nancial guides and author of fi nancial guides The Economy of You The Economy of You and and and and Generation Earn Generation Earn Generation Earn Generation Earn. . After years of bunking in dorms and subsisting on ramen noodles, now After years of bunking in dorms and subsisting on ramen noodles, now After years of bunking in dorms and subsisting on ramen noodles, now After years of bunking in dorms and subsisting on ramen noodles, now After years of bunking in dorms and subsisting on ramen noodles, now After years of bunking in dorms and subsisting on ramen noodles, now that you've got a little cash in your pocket, you may feel the urge to splurge. that you've got a little cash in your pocket, you may feel the urge to splurge. that you've got a little cash in your pocket, you may feel the urge to splurge. that you've got a little cash in your pocket, you may feel the urge to splurge. that you've got a little cash in your pocket, you may feel the urge to splurge. that you've got a little cash in your pocket, you may feel the urge to splurge. that you've got a little cash in your pocket, you may feel the urge to splurge. that you've got a little cash in your pocket, you may feel the urge to splurge. But you need to be sensible and avoid some of the rookie mistakes that a lot But you need to be sensible and avoid some of the rookie mistakes that a lot But you need to be sensible and avoid some of the rookie mistakes that a lot But you need to be sensible and avoid some of the rookie mistakes that a lot But you need to be sensible and avoid some of the rookie mistakes that a lot But you need to be sensible and avoid some of the rookie mistakes that a lot But you need to be sensible and avoid some of the rookie mistakes that a lot But you need to be sensible and avoid some of the rookie mistakes that a lot of new grads make. "The worst things you can do," says Palmer, "are going of new grads make. "The worst things you can do," says Palmer, "are going of new grads make. "The worst things you can do," says Palmer, "are going of new grads make. "The worst things you can do," says Palmer, "are going of new grads make. "The worst things you can do," says Palmer, "are going of new grads make. "The worst things you can do," says Palmer, "are going of new grads make. "The worst things you can do," says Palmer, "are going of new grads make. "The worst things you can do," says Palmer, "are going into credit card debt for nonessentials like travel and not paying off your into credit card debt for nonessentials like travel and not paying off your into credit card debt for nonessentials like travel and not paying off your into credit card debt for nonessentials like travel and not paying off your into credit card debt for nonessentials like travel and not paying off your into credit card debt for nonessentials like travel and not paying off your into credit card debt for nonessentials like travel and not paying off your into credit card debt for nonessentials like travel and not paying off your student loans." student loans." student loans." student loans." student loans." student loans." If you've already acquired a stack of credit card bills, pay them off fi rst If you've already acquired a stack of credit card bills, pay them off fi rst If you've already acquired a stack of credit card bills, pay them off fi rst If you've already acquired a stack of credit card bills, pay them off fi rst If you've already acquired a stack of credit card bills, pay them off fi rst If you've already acquired a stack of credit card bills, pay them off fi rst If you've already acquired a stack of credit card bills, pay them off fi rst If you've already acquired a stack of credit card bills, pay them off fi rst before paying off your student loans. "Student loans generally carry a low before paying off your student loans. "Student loans generally carry a low before paying off your student loans. "Student loans generally carry a low before paying off your student loans. "Student loans generally carry a low before paying off your student loans. "Student loans generally carry a low before paying off your student loans. "Student loans generally carry a low before paying off your student loans. "Student loans generally carry a low before paying off your student loans. "Student loans generally carry a low interest rate, at least lower than credit cards," says Palmer. So just stick with interest rate, at least lower than credit cards," says Palmer. So just stick with interest rate, at least lower than credit cards," says Palmer. So just stick with interest rate, at least lower than credit cards," says Palmer. So just stick with interest rate, at least lower than credit cards," says Palmer. So just stick with interest rate, at least lower than credit cards," says Palmer. So just stick with interest rate, at least lower than credit cards," says Palmer. So just stick with interest rate, at least lower than credit cards," says Palmer. So just stick with making regular monthly payments on your student loans until you've socked making regular monthly payments on your student loans until you've socked making regular monthly payments on your student loans until you've socked making regular monthly payments on your student loans until you've socked making regular monthly payments on your student loans until you've socked making regular monthly payments on your student loans until you've socked making regular monthly payments on your student loans until you've socked making regular monthly payments on your student loans until you've socked enough away to pay them off in full. enough away to pay them off in full. enough away to pay them off in full. enough away to pay them off in full. enough away to pay them off in full. enough away to pay them off in full. Speaking of student loans, consolidating them may sound like a no-brainer. Speaking of student loans, consolidating them may sound like a no-brainer. Speaking of student loans, consolidating them may sound like a no-brainer. Speaking of student loans, consolidating them may sound like a no-brainer. Speaking of student loans, consolidating them may sound like a no-brainer. Speaking of student loans, consolidating them may sound like a no-brainer. Speaking of student loans, consolidating them may sound like a no-brainer. Speaking of student loans, consolidating them may sound like a no-brainer. However, it has its pros and cons. For instance, if you extend the life of the However, it has its pros and cons. For instance, if you extend the life of the However, it has its pros and cons. For instance, if you extend the life of the However, it has its pros and cons. For instance, if you extend the life of the However, it has its pros and cons. For instance, if you extend the life of the However, it has its pros and cons. For instance, if you extend the life of the However, it has its pros and cons. For instance, if you extend the life of the However, it has its pros and cons. For instance, if you extend the life of the loan, you might end up paying more in interest than you normally would have. loan, you might end up paying more in interest than you normally would have. loan, you might end up paying more in interest than you normally would have. loan, you might end up paying more in interest than you normally would have. loan, you might end up paying more in interest than you normally would have. loan, you might end up paying more in interest than you normally would have. loan, you might end up paying more in interest than you normally would have. loan, you might end up paying more in interest than you normally would have. So it is essential to do your research fi rst. So it is essential to do your research fi rst. So it is essential to do your research fi rst. So it is essential to do your research fi rst. So it is essential to do your research fi rst. So it is essential to do your research fi rst. You may also be tempted at this point to go out and buy a new car or even You may also be tempted at this point to go out and buy a new car or even You may also be tempted at this point to go out and buy a new car or even You may also be tempted at this point to go out and buy a new car or even You may also be tempted at this point to go out and buy a new car or even You may also be tempted at this point to go out and buy a new car or even You may also be tempted at this point to go out and buy a new car or even You may also be tempted at this point to go out and buy a new car or even a home. The experts say you should concentrate on eliminating any debt you a home. The experts say you should concentrate on eliminating any debt you a home. The experts say you should concentrate on eliminating any debt you a home. The experts say you should concentrate on eliminating any debt you a home. The experts say you should concentrate on eliminating any debt you a home. The experts say you should concentrate on eliminating any debt you a home. The experts say you should concentrate on eliminating any debt you a home. The experts say you should concentrate on eliminating any debt you may have rather than accumulating more. Some even suggest moving back may have rather than accumulating more. Some even suggest moving back may have rather than accumulating more. Some even suggest moving back may have rather than accumulating more. Some even suggest moving back may have rather than accumulating more. Some even suggest moving back may have rather than accumulating more. Some even suggest moving back may have rather than accumulating more. Some even suggest moving back may have rather than accumulating more. Some even suggest moving back home with the folks for a while. "If living with your parents is an option, it's home with the folks for a while. "If living with your parents is an option, it's home with the folks for a while. "If living with your parents is an option, it's home with the folks for a while. "If living with your parents is an option, it's home with the folks for a while. "If living with your parents is an option, it's home with the folks for a while. "If living with your parents is an option, it's home with the folks for a while. "If living with your parents is an option, it's home with the folks for a while. "If living with your parents is an option, it's a great choice," says Palmer, "because you can save on housing costs and use a great choice," says Palmer, "because you can save on housing costs and use a great choice," says Palmer, "because you can save on housing costs and use a great choice," says Palmer, "because you can save on housing costs and use a great choice," says Palmer, "because you can save on housing costs and use a great choice," says Palmer, "because you can save on housing costs and use a great choice," says Palmer, "because you can save on housing costs and use a great choice," says Palmer, "because you can save on housing costs and use that money to pay off your debt or put it into savings." that money to pay off your debt or put it into savings." that money to pay off your debt or put it into savings." that money to pay off your debt or put it into savings." that money to pay off your debt or put it into savings." that money to pay off your debt or put it into savings." that money to pay off your debt or put it into savings." that money to pay off your debt or put it into savings." "Establishing a savings habit right off the bat is one of the smartest fi nancial "Establishing a savings habit right off the bat is one of the smartest fi nancial "Establishing a savings habit right off the bat is one of the smartest fi nancial "Establishing a savings habit right off the bat is one of the smartest fi nancial moves you can make," insists Palmer. "Retirement accounts should be started moves you can make," insists Palmer. "Retirement accounts should be started moves you can make," insists Palmer. "Retirement accounts should be started moves you can make," insists Palmer. "Retirement accounts should be started as soon as you have access to a 401(k), especially if your employer offers as soon as you have access to a 401(k), especially if your employer offers as soon as you have access to a 401(k), especially if your employer offers as soon as you have access to a 401(k), especially if your employer offers matching funds. The key is to start saving as soon as you have an income. matching funds. The key is to start saving as soon as you have an income. matching funds. The key is to start saving as soon as you have an income. matching funds. The key is to start saving as soon as you have an income. Even a low one." Even a low one." Y