Understanding personal finances and having a plan is so much more than just a math equation.

Your financial future as a recent graduate student will be developed over time and incorporate not only previous experiences with money, but built on what has influenced you, your values, goals and your mindset. In fact, what you tell yourself, and what information you see and hear can set the course for your path ahead.

If you are graduating from high school, you may be considering a bank account, or how you can use your current account more effectively through your next stage in life. If you have income, you may be considering that first credit card and the best way to build credit. Perhaps you are thinking about your financial situation as you head off to college and how to structure a plan for the needs ahead.

If you are a college graduate, you will look at your finances a bit differently.  Do you have a job lined up?  How will you structure your finances that will include living expenses, transportation and possible debt payments?  Do you have a vision of what you want your finances to look like now, and into the future? What is most important to you?

For both stages of life, I say Congratulations to you! Each step in your life journey comes with new choices that will help determine your future.

For any financial education you receive, make sure to utilize reputable resources. Ask questions to make sure you understand your options and the decisions you make.

Some things to consider may be:

• Creating an actual budget or a “money plan”. It takes discipline but it also empowers you to be in control of your finances rather than reactive, when the unexpected occurs (and it will!)
• Create that emergency fund! Start with $1000. That emergency fund will help prevent going into debt for that small need such as a car repair or other unexpected expense.
• Understand your investment options. If you will be working, ask about a 401K or other retirement plan.  Understand your choices and make the best decisions based on your goals.
• If you have student loans, understand the contracts. What do you owe, when and how much will you pay and what is the interest rate?
• Make sure you understand your employment benefit options such as medical insurance, vacation, sick leave, and other benefits you may not be aware of. Don’t be afraid to ask questions.
• With all the media out there about credit scores and reports make sure you have a good understanding from reliable sources. Take advantage of annualcreditreport.com to not only verify your reporting is accurate, but there is also credit education available through their site.

As a Personal Financial Coach, it is my goal to help educate and empower others.  I believe the earlier you get started with good money habits, as well as a good understanding of your personal values and future dreams, the fewer road bumps you will hit along the way.  But we all hit those road bumps, so knowledge and understanding will help you navigate them more easily!

If you’d like to meet, I’d be happy to provide guidance and help you be better prepared for your financial future!

Click HERE to schedule your personal financial coaching session.

Lisa Atkinson
TFCU | Personal Financial Coach
latkinson@tucsonfcu.com

As a Personal Financial Coach, I do not provide legal or tax advice.
Tucson Federal Credit Union does not make any guarantees that this service will achieve any particular objective or outcome. For any legal advice, please seek the advice of an attorney or tax professional.