It is almost graduation! While graduation is an exciting time, it can also be overwhelming to be thrown out into the “real world”. Getting your financial life in order can help you to feel more prepared for the next chapter in your life. Although this post is geared toward graduating seniors, it is helpful for anyone.
I also want to add that our counselors are here for you. Visit us before graduation and let us help you start post-grad life off on the right foot!
I have compiled a neat checklist for you to follow along with. This list is not exhaustive, but is a great start!
Graduating Senior Financial Checklist:
- Create an online log-in with your student loan servicer
- Set-up an appropriate repayment plan for your student loans
- Open a checking account with no minimum balance and no monthly fees
- Open a high-yield savings account to store emergency fund and other intermediate-term savings
- Perform a credit well check- consider opening a credit card if you do not already have one
- Read your employee benefits- if you are starting your career, spend some time studying your new benefits
- Create a written budget
- Start saving for retirement- utilize your employer match if you are starting your career, or consider opening a Roth IRA
- Write out your short-term, intermediate-term, and long-term financial goals
The WKU Center for Financial Success has resources explaining how to accomplish these items here:
Our counselors can also walk you through this checklist and have you leaving WKU empowered and excited for the road ahead!
Visit our website to set up an appointment: