The Best Money Advice When You Don’t Have Any Money
By Judith Ohikuare
Recent grads who are working full-time for the first time may be thrilled to see steady paycheck deposits in their accounts. But where there’s income, there are always expenses. Do your best to make sure that your spending and debt payments add up to what you make, right out of the gate.
“No matter the size of your salary, it’s important to assess your monthly spending and make paying at least the minimum amount(s) due on your debt obligations a top priority,” says Chrissy Celaya, a certified financial planner at Betterment. “Not doing so can lead to penalties, extra interest, and higher finance charges, not to mention negatively impact your credit score.”