What should I do with my money after graduation?
So all of your hard work has paid off. You did it! You graduated college. It’s time to celebrate your accomplishment. Have a graduation party! If you’re lucky, you may receive graduation money to celebrate your hard work. What do you do with all that money? Here are five ideas on how to put that money to use.
- Treat yourself. You’ve worked hard these last four years. Time to splurge on a small purchase you want. Go ahead, buy those concert tickets or new shoes you’ve had your eye on. Give yourself permission to celebrate!
- Down Payment for an Apartment. Been living on your own or with friends through college? You may want to continue. Putting some money towards a down payment will help you continue to live on your own. Your parents might thank you!
- Invest. Investing your money into an IRA or 401K means you earn money over time. Consider a meeting with an investment rep. It’s never too early to start saving for retirement.
- Open a Savings Account. Saving money is a good way to have money for future needs – expected or unexpected. Savings accounts earn interest. Savings accounts with a local credit union (like us!) comes with many benefits you may be unaware of.
- Pay off School Debt. Even a small monthly increase in what you pay towards your student loan debt (if you have any) can get it paid off faster!
Graduation money isn’t always guaranteed but if you’re lucky enough to receive a few bucks, consider these options.
If you’re still unsure what to do with your money you can always open a Savings Account at SourceOne Credit Union and start earning interest on your funds.
Along with all the other benefits listed here: www.source1cu.com
For more ideas, take a look at this FastWeb article.
Oh, and if you want to create a Money Lei – here’s how.