Money After Graduation (Infographic)

This infographic offers helpful advice on managing your money after graduation.

Infographic about Money After Graduation

Cliff Notes for Managing Money After Graduation 

  • The easiest way to set up your money flow is to set up a system of accounts right from the beginning. Explore our Checking Accounts and Savings Accounts to get started. 
  • Set your paycheck up to get directly deposited into your account. 
  • You may be able to stay on your parent's health insurance until you are 26 years old. 
  • Take advantage of any company sponsored retirement plans and match as soon as you can. 
  • Start a simple budget.
  • Work on reducing any debt, including student debt or credit card debt. 

We are here to help you each step of the way. Contact us for assistance wherever you are on your post-graduation life.

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This is a transcription of the infographic above.

Managing Your Money After Graduation

Graduating can have many next steps – Planning for more schooling, starting a new job, or maybe a year of exploring. No matter what you plan to do, this is the perfect time to begin laying the groundwork for your financial future.


The easiest way to set up your money flow is to set up a system of accounts right from the beginning.

  • Checking Account
  • Savings Account
  • Credit Card

For regular expenses varying from daily to monthly, this is usually the place where your work money is also deposited. This is best for known longer term expenses. Also, this can be a place for your rainy-day fund, accruing more interest than a checking account.
Credit cards are smart for most people and can help build credit history. They can be used for everyday transactions, with the balance paid monthly from a checking account. Just be careful not to spend more than you can afford.


  1. 1.Set up direct deposit

    Direct depositing your paycheck has many advantages, but the biggest one is that the money will automatically be in your account. It is safe and easy to set up. Most companies include this in their new hire paperwork and we highly recommend activating this perk.

  2. 2.Maximize your benefits
    • Medical
    • 401K

The Affordable Care Act allows individuals up to age 26 to stay on parent’s health care, so if that still applies to you, consider shifting this money into savings for now.

It’s never too early to start saving for retirement, especially if your new employer does employee matching. Set this up from the beginning and it will just be an automatic deduction from your paycheck that you will appreciate when you are older.


Any life change is a great opportunity to take a moment and reevaluate your budget. A good equation for your take home pay when just starting out is:

  • 40% housing & utilities
  • 15% food
  • 5% personal expenses
  • 10% transportation (including car loan or commuting expense)
  • 10% clothing & entertainment
  • 20% debt repayment & savings


No place in the U.S. is immune from student loan debt.

Rank State % of Residents with Debt Average Debt
1 New Hampshire 74% $36,367
2 Pennsylvania 68% $35,759
3 Connecticut 60% $35,494
4 Delaware 63% $33,838
5 Minnesota 68% $31,915
6 Massachusetts 60% $31,563
7 South Dakota 75% $31,362
8 Maine 55% $31,295
9 Alabama 50% $31,275
10 Rhode Island 61% $31,217

Things you can do immediately after graduation to start paying off student loans:

  • Don’t use the grace period unless you need it.
  • Deduct your student loans from your taxes
  • See if your employer will help
  • If you are moving right into work, then allocate money for your student loans right away, even if you are eligible for a grace period. It will save you money in interest down the line.
  • Usually, the year after graduation is the first time you may be filing for your own taxes.
  • Partner with a tax preparer or use software to identify all of the places where you can save money.
  • Student Loan Interest Deduction is a big place to add an important exclusion to your return.
  • Employer-paid student loan repayment assistance is gaining in popularity, especially among larger corporations. It can’t hurt to ask if your company offers these services, especially as you are in the onboarding process.


CMillennials and Gen Z – the NOW generation – have stated their biggest concerns in life after college are:

  • Finding a job
  • Paying off their education
  • Obtaining personal and financial health
  • Paying for a place to live on their own


Contact us for assistance wherever you are on your post-graduation life.

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