大学太棒了

College Was Awesome.Now What? Tips For Recent College Graduates College graduation marks the start of a career with new responsibilitiesand decisions. It can be an exciting time but filled with uncertainty. If you are starting a job it is time to begin planning yourfinancial future. To get started, here are our best tips. Charge only what you can pay off each month. Carryinga credit card balance is a very expensive way to borrow.Remember a credit card isn’t just plastic. It’s money. Budget and spend money wiselyDevelop a monthly budget and keep your expenses under Check your credit score control. Even if you have significant college debt, consider“paying yourself first”—saving a portion of your incomeso you have money in the future for large purchases oremergencies. By signing up for direct deposit of yourpaycheck, you can automatically deposit a portion ofyour check into an interest-bearing savings account. Since your credit score affects your access to credit, youwill periodically want to check your credit report. Scoresrange between 300 and 850, with most falling between600 and 750. A credit score of 700 or above is generallyconsidered good. Knowing your credit history and scorecan be especially helpful if you are applying for a loan orrental lease. Checking your credit report also helps flagif your financial accounts were hacked or identity stolen. Pay down debt Don’t forget your student loans. If you borrowed money forcollege, your first bill is due six months after graduation. If the amount is high relative to your income, look into arepayment plan that is manageable, including schedulesand options for federal loans. Remember a credit card isn’t just plasticIf you are like many recent grads, you want to build credit. Start slow. You may need to create a credit history beforeyou will be approved for a traditional bank card. Onesuggestion is to begin with a store credit card. It is ofteneasier to be approved because store cards tend to havelower spending limits than bank cards. But be mindful ofthe higher interest rates of store cards. Once you build apayment history, it will be easier to transition to a bankcard. And you will be building a history of paying monthlybills such as rent, utilities, and student and auto loans. Do not miss or be late with payments. Just one latepayment can lead to exorbitant fees and affect yourcredit score. A credit score is essentially a report card ofyour credit history expressed as a number. It follows youthroughout life and determines your access to credit aswell as the interest rate you will pay on large purchasessuch as a car or home. Tips For Recent College Graduates(continued) HSAs are growing in popularity because they offerimportant tax advantages. HSA contributions arepretax and tax-deductible, so the money grows tax-free.Withdrawals for eligible health expenses are not taxedand contributions can be invested in mutual funds,stocks, and other investment vehicles. That money cangrow throughout your career for medical expenses.There is no minimum required distribution as withother retirement accounts. You can access your credit score by contacting a creditreporting agency. The three largest are Equifax, Experian,and TransUnion.AnnualCreditReport.comalso offers a freecopy of your credit report every 12 months from each creditreporting company. Credit card companies and reporting agencies offerfraud alerts. Check with your provider on how to sign upfor alerts. Both the HSA and 401(k) will stay with you throughoutyour career even if you change employers. Be sure to checkwith your HR department for more details on these plans. Start saving for retirement As soon as you begin your first job, start contributing toyour company’s retirement plan. Saving just an extra $25,$50, or $75 a month can add up over time due to the powerof compound earnings. For example, saving an extra $50a month can grow to over $8,500 over the course of 10years at 6.5% return. There are several handy calculatorsonline that calculate compound earnings. For example,www.bankrate.com/calculators/savings/simple-savings-calculator.aspx. Evaluate a Roth IRA or traditional IRA forretirement savings A 401(k) is just one retirement savings plan.If you maxout your 401(k) contributions and would like to makeadditional contributions to tax-advantaged retirementaccounts, consider contributing into a traditional IRA orRoth IRA. The main difference between the two vehiclesis the timing of tax advantages. With traditional IRAs,contributions reduce taxable income in the year they aremade (if deductible) and you pay taxes on withdrawalslater. Roth IRAs allow you to pay taxes on contributionsnow and receive tax-free withdrawals later. Consider yourpersonal tax situation to determine the best choice. Understand your company’s benefitsThoroughly explore and understand your company’s benefits, including its retirement plan, insurance options,tuition reimbursement, student loan repayment assistan