Penny-Pinching Tips for the Fresh Faced College Grad

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Penny-Pinching Tips for the Fresh Faced College Grad

Obtaining your college degree is one of the most important milestones of your life. However, so is managing your money, even if you have landed that dream job. If you have just graduated college, the following tips will be very helpful to you:

Set yourself limits on what you can spend money on. It may be tempting to spend your hard-earned money on every gadget, toy, and trip you want to go on. However, you also need to consider your future-and your future credit report. Therefore, setting monthly limits on entertainment expenses is recommended.

In order to keep your credit clean you need to be careful to live within your means. You may be able to obtain credit easily as a recent college graduate. That does not mean you should respond to every credit card offer you respond to. Think about how much you can realistically pay back in a month's time before you consider tacking on yet another monthly credit payment.

Save money. When you are young, especially if you are still single, this is the best time to save money. If you already have a decent steady job you can put away money in case of a financial hardship and it will help you to get through it easier. Furthermore, if you ever want to get married or have a family you will have funds for all expenses related to those activities.

Humble yourself a little. Thrift stores and discount stores have great merchandise too! There is no need to spend more than you need to on certain durable and semi-durable items. In fact, used items and discount items are available for nearly every purchase you plan to make.

Find an economical cell phone deal. There are actually plans out there that cost only about $50.00 or less. In fact, there is no shame in prepaid phones either, and the rates on those are actually becoming more and more reasonable. Make an overall budget and stick to it. Generally speaking, the amount of money you spend on housing should be about a third of your income. The amount recommended you save monthly is about 10% of your income, and you should try to keep your transportation expenses at about 15% for clothing, entertainment, and other miscellaneous expenses you would set aside between five to ten percent of your total monthly earnings.

Remember also that you are only young once. When you are young it may be hard to think in the future. However, if you take the advice provided in this article to heart you will be less likely to say to yourself 10 to 20 years from now "I wish I would have saved more money" or "I wish I would have invested my money instead of squandering it" or similar statement.

On the flip side, there is no need for you to be so rigid with your money that you can never have any fun. Furthermore, once in awhile it would do you good to help others, as long as you know you can help yourself first. Aside from that, just continue to make choices over the years that you know you will reap rewards from and refrain from choices that have bad consequences.

Invest a portion of your money. Over and above your savings, it is advisable that you invest a minimum of two to five percent of your monthly earnings while you can at this time. If you procrastinate, you may not be able to in the future. So do it now while you can. If you have questions on what types of investments would be best contact a professional or conduct your own research online.

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◦	Saving Money
◦	Living Debt Free
◦	Four Areas of Life to Downsize and Realize Money Savings
◦	Living the Budget Balancing Act and Coming Out Ahead
◦	Many Easy Ways to Save Money and Lighten Your Debt Load
◦	Negotiating Your Way to a Better Deal Without Breaking Your Budget
◦	No-Nonsense Tips for Living Within or Below Your Means
◦	Penny-Pinching Tips for the Fresh Faced College Grad
◦	Shiny New is Overrated: Buy Used to Save Money
◦	Six No-Nonsense Ways for Living Below Your Means
◦	Smart Ways to Cut Costs and Realize Savings Each Month
◦	Don't Deny Yourself
◦	Get Married Without Going into Debt
◦	Having a Bit of Summer Family Fun Without Any Debt on the Run
◦	Helpful Hints on How to Avoid the Debt of the Holiday Season
◦	How to Take a Family Vacation and Still Live Within Your Means
◦	Ways to Find Money For Those "Extras" Without Dipping into Your Savings
◦	Daily Money Saving Tips
◦	Boost Your Savings Account with These Garage Sale Tips
◦	Eight Ways to Save on Your Drug Prescriptions
◦	Five Easy Snack Makeovers to Save on the Grocery Bill
◦	How to Dine Out on Occasion and Still Make Your Budget
◦	Nine Nifty Ways to Earn an Extra $100 Bucks a Month
◦	Seven Painless Pointers for Lowering Bills and Living Below Your Means
◦	Seven Simple Ways to Save Money Today
◦	Stay Financially Fit with These Grocery Shopping Tips
◦	Saving BIG on Household Expenses
◦	Cheapie Ways to Stretch Your Dollar in the Bathroom
◦	Energy Tips to Keep You from Maxing Your Household Budget
◦	Kitchen Item Recycling Tips to Save Some Money
◦	Live Within Your Means and Still Get Good Furniture
◦	Saving Money in the Long Run: Get the Right Home Insurance
◦	Water Saving Strategies to Keep Your Pocketbook Padded
◦	Saving BIG on Car Expenses
◦	Eight Ways to Save Money on Gas Without Going in Debt
◦	Pocket Extra Cash By Avoiding These Silly Car Wastes
◦	Six Savvy Car Shopping Moves to Keep You From Breaking the Bank
◦	Bargain Baby & Child Care
◦	Baby Bargains For the Budget Conscious
◦	Cutting Expense Corners During Baby's First Year
◦	Get Back to Work with These Money-Savings Childcare Options
◦	Saving Money Living Green
◦	Conserve Energy and Reduce Your Bill with This Great Advice
◦	Freecycling a Great Way to Avoid Accumulating Debt
◦	Going Green and Still Living Within Your Means
◦	Smart Money Management Advice
◦	Avoid These Major Money Missteps and Stay Out of Debt
◦	Five Money Ways to Simply Your Life and Breathe a Bit Easier
◦	Importance of an Emergency Fund and Ways to Fund It
◦	Manage Your Money with These Simple Solutions
◦	Realize a Bigger Paycheck by Plugging These Money Draining Holes
◦	Saving Big Time with These Unadvertised Secret Deals
◦	Seven Smart Tips for Living Below Your Means Comfortably
◦	Simple Ideas to Buck the Economic Downturn and Flourish
◦	Ten Ways to Simplify Your Life and Lower Debt
◦	The Wants vs. Needs Battle and How It Affects Your Budget
◦	Three Banking Tips to Keep Money… In the Bank!
◦	Top Ways to Increase Your Net Worth
◦	Saving For College
◦	College Savings/Investment Options
◦	Can You Afford It?
◦	Community College: A Financial Head Start on Education
◦	Get the Family Involved
◦	Getting Started Saving For Colle
◦	How Much Does It Cost?
◦	Important Steps to Take When Saving for College
◦	Is It Too Late To Start?
◦	Options To Think About
◦	Required Steps to Set up a Coverdell ESA for College
◦	Roth IRAs: A Viable Option for College Funding?
◦	Savings Plan Considerations
◦	The Ins and Outs of Controlling a Coverdell ESA
◦	The Pros and Cons of the Coverdell ESA for College
◦	Viability of US Savings Bonds to Fund College
◦	What Are Your Options?
◦	Why Save For College?
◦	Why In-State Colleges Should Be a Financial Aid Solution
◦	College Funding/Grant Options
◦	Federal PLUS Program Smart Move for College Funding
◦	Free Money for College: How to Find It
◦	Funding Options for College Bound Students
◦	Helpful Hints for Identifying College Scholarships
◦	How Federal Work Study Programs Come into Play for College Funding
◦	The Scoop on Pell Grants for College Education
◦	Wading Through the Financial Aid Options for College Students
◦	What About Scholarships?
◦	What Is Financial Aid?
◦	Student Loan Options
◦	Co-Signer and No Co-Signer Loans
◦	Credit History and Student Loans
◦	Interest Rates, Now and Future
◦	No Credit Loans
◦	PLUS Student Loans
◦	Private Student Loans
◦	Seeking Loan Advice
◦	Stafford Student Loans
◦	Subsidized and Unsubsidized Student Loans
◦	The Federal Family Education Loan Program (FFELP)
◦	The William D. Ford Direct Loan Program
◦	Your College Loan Options for the Future
◦	How Students Can Help
◦	Financial Know-How for New College Students
◦	Graduate and Undergraduate Financial Aid: Similarities and Differences
◦	How Federal Work Study Programs Come into Play for College Funding
◦	Paying For College From the Student Standpoint
◦	529 Savings Plan
◦	What Is the 529 College Plan?
◦	A Glimpse into the Independent 529 College Plan
◦	Overall Benefits of the 529 College Savings Plan
◦	The Lowdown On Prepaid vs Savings 529 College Savings Account
◦	The Scoop about 529 Penalty on Refunds
◦	The Skinny on A 529 Plan: What It Is and Where to Fund It
◦	Top FAQs Regarding the 529 Plans
◦	What the Treasury Inflation-Protection Securities (TIPS) Means in the 529 Plans
◦	Important 529 Plan Considerations
◦	529 Plan's Future When College is Not in the Future
◦	Are 529 Plans Necessarily the Best for Everyone?
◦	Getting Past Contribution Limits For 529 College Savings Plans
◦	Keeping Track of your 529 College Plan Contributions
◦	More Than One Kid: Why Two 529 Plans are Better Than One
◦	Opening a 529 College Savings Plan for You a Possibility?
◦	Pros and Cons of Pre-paid Tuition vs. 529 College Saving Plan
◦	Quirks About Getting Education Loans Even with a 529 College Plan
◦	Sound Reasons For Multi-State 529 Contributions
◦	Switching from Your UTMA/UGMA To A 529 Plan
◦	The 529 College Savings Plan as an Estate Planning Move
◦	The Medicaid-529 College Plan Debate
◦	What Contributing Grandparents Need to Know about 529s
◦	Why Prepaid Tuition Plans May Not Be So Great These Days
◦	Your Investment Options with the 529 College Plan
◦	529 Plan and Your Taxes
◦	Changes Made To The "College Kid" Tax Rules
◦	Good News - Bad News on 529 Gift Tax Situation
◦	Learning about State Tax Deductions with 529 Plans
◦	Tax Savings For 529 Plans Even If College Has Started
◦	What the $12k Gift Tax Exclusion is All about in Terms of 529 Plans
◦	State By State 529 Options
◦	A Look at Mississippi's 529 College Plan
◦	A Sunny View on Florida's 529 College Plan Options
◦	States that Come Close to the 5-Cap Rating with 529 Plans
◦	Top Three States With The Best 5
◦	What’s Up with 529 Plans in Texas?
◦	Why Consider Out of State 529 Plans?
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◦	Living Wills
◦	Offshore Banking
◦	Ways to Save Money
◦	401k Plan

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