Whether you're fresh out of high school or proudly holding your college degree, graduation marks a major milestone—and the beginning of new financial responsibilities. It’s an exciting time, but also one where the right money moves can set you up for long-term success. Let’s break it down by life stage:
College Graduates: Building a Financial Foundation
Graduating from college often comes with student loans, job hunting, and newfound independence. Here's how to get ahead:
1. Create a Real-World Budget
Track your income and expenses. Make room for student loan payments, rent, transportation, and groceries. Don’t forget to include savings!
2. Start (or Build) an Emergency Fund
Aim for $500–$1,000 to begin. Unexpected car repairs or medical bills are easier to handle when you’re prepared.
3. Understand Your Student Loans
Know your loan type, interest rates, and repayment start dates. Explore deferment, consolidation, or income-driven repayment plans if needed.
4. Begin Building Credit Responsibly
Consider a credit card—like ALLIANCE’s Secure Credit Card—to build credit with low risk. Use it for gas or groceries and pay it off monthly.
5. Join a Credit Union
We’re member-owned, not-for-profit, and focused on your success—not shareholder gains. Our checking, savings, and loan products are built for real life.
High School Graduates: Starting Smart with Money
If you're heading to college, trade school, or the workforce, now’s the perfect time to start good habits:
1. Open Your Own Bank Accounts
Having your own checking and savings accounts teaches money management and keeps school funds or paychecks organized.
2. Build a Simple Budget
Use the 50/30/20 rule: 50% needs, 30% wants, 20% savings. Start small and build from there.
3. Start Saving for What’s Next
Whether it’s books, a car, or your first apartment—set savings goals and automate deposits if possible.
4. Understand Credit Early
Learn how credit works before you need it. Our team at ALLIANCE can help explain how to build it the smart way.
5. Be Scam-Savvy
Graduates are often targets for phishing emails, fake job offers, and "too good to be true" financial promises. If it feels off, check with someone you trust—or ask us.
Congratulations, Grads! We're Here for your Journey
At ALLIANCE, we believe financial confidence should start early. Whether you’re entering college or your first career, we’re here with tools, guidance, and accounts to help you move forward—your way.
