Real-World Finances 101: Smart Money Tips for Recent Grads

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Delay gratification: Boyd reports that he often sees an “I deserve it” attitude from college grads. While graduating from college is an awesome accomplishment, Boyd warns against going crazy with newfound financial freedom your first job can bring. “The biggest mistake is buying the expensive car. There are two reasons why the new car can affect your wallet negatively,” Boyd explains. “First, paying a car note every month really affects your cash flow and can keep you on a tight budget for years. Second, you’re putting your money into a depreciated asset. You have to have some type of delayed gratification for those types of material items early on in your career. If you do it early, you can have a lot of nice material items later on in your career. It’s the one thing that can change from going paycheck to paycheck to building a savings portfolio.”

Delay gratification: Boyd reports that he often sees an “I deserve it” attitude from college…