Whether you’re graduating high school or college, your financial journey is just getting started. These top smart money moves will help you build a solid foundation.
#1 Pay Yourself First
Before you buy that celebratory pizza or post-graduate trip, start a savings habit. Even a small amount each paycheck adds up over time. One smart idea is to automate your savings, so you never have to think about it. Out of sight, out of mind!
#2 Track Your Spending (Even the $5 Coffee Run)
It’s not about restricting awareness. Knowing where your money goes each month is the first step to gaining control. Many banking apps (including ours) have built-in tools to categorize spending and set up alerts, so you can catch patterns before they become problems.
#3 Learn How Credit Works
Your credit score may feel like a mystery now, but it plays a huge role in future goals—like renting an apartment, buying a car, or getting lower interest rates. A good rule of thumb is to pay bills on time, keep balance low, and monitor your credit regularly. (Nymeo members can use free credit monitoring through online banking.)
#4 Budget without the Boring
You don’t need a spreadsheet empire to budget. Try the 50/30/20 rule:
- 50% for needs
- 30% for wants
- 20% for savings or debt payments
Bonus: If you ever want a second pair of eyes, credit unions (like Nymeo!) often offer free financial counseling and checkups for members.
#5 Avoid Subscription Overload
Streaming, cloud storage, music, fitness apps—those $5-$15 monthly fees add up quickly. Do a quarterly audit and cancel anything you're not using.
#6 Start an Emergency Fund
Flat tires, surprise textbooks, or phone replacements happen. A $500 starter emergency fund is your best defense against going into debt over everyday chaos. Open a separate savings account just for emergencies and label it clearly—like “Do Not Touch"!
Final Thought:
Graduation is a major life milestone—but so is your first budget, first savings account, and first “I got this” financial moment. No one expects you to be perfect with money right away. Just start small, stay curious, and know you’ve got options—and people—ready to help when you need it.
Also, if you are a Nymeo member, it’s a great time to open a student checking account if you plan on continuing your education. Nymeo pays for your As! Find out more here.
Category: Credit Cards & Loans
