MACON, Ga. — This time of the year, students across Central Georgia are putting on their caps and gowns, getting their diplomas, and heading into the real world.
That all means more financial responsibilities, like building your savings account, investing in a 401K, keeping tabs on your credit score and paying off student debt.
It sounds like a lot, but Rebecca Wilton with Rosenberg Financial Group says there's no need to feel overwhelmed.
"Be open to change, be patient and just keep moving forward."
Wilton says opening a savings account and investing in your company's 401K are great places to start because it's never too early to start saving for retirement. The money you invest early will grow the most because it has more time to work for you.
"Start saving for moving out or even your future, whatever that might look like. Again, whatever your company might offer, if they have 401Ks, you want to always do the match amount because that is free money that they're giving you."
She also says it's important to understand your company's benefits package.
"Make sure you ask a lot of questions and go through it and just try to take advantage of all the benefits that you can, from the health insurance to the retirement plan," says Wilton.
As for your credit score, she says you've got to keep an eye on it because that could drive up costs in the future or prevent you from getting a loan.
"The bulk of it is by on-time payments and then length of your credit history and just making sure that you don't have any collection bills or any unpaid bills."
One thing on the minds of many recent grads is paying off that student debt.
"Making a plan and a budget so that you know what you have to pay. You want to definitely take care of your rent, your utilities, those things first, but you want to pay as much extra as you can of that student debt to get it paid down," she says. "If you have four or five different loans and you need to make $50 payments on all of them, make that your goal and maybe start increasing and paying $100 to one of them a month, until you get that paid down and then add the extra to the next."
For people who get into state or government jobs, she says there may an option of student loan forgiveness.
Wilton also says avoiding big purchases when you're just starting out will also help keep your budget in check and prevent you from getting yourself into a hole you can't get out of.
These tips aren't just for the class of 2021. She says it's never too late to start saving.