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

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Establish credit: While some may want to avoid using credit cards because of the negative connotation that comes along with debt, Boyd advises college grads have one credit card in order to build good credit. “I recommend putting your monthly bills on the credit card and then paying it off at the end of every month,” Boyd says. “This will begin to build your credit.” Boyd advises against carrying an unnecessary balance and to pay everything on time. “I always tell people if you have good credit, it’s like saving money. You’re going to get the best rates on everything,” Boyd says. “When you buy a house, the rate can save you $60,000 to $70,000 over a lifetime.”

Establish credit: While some may want to avoid using credit cards because of the negative…