money
Saving Tips For Recent Graduates

6.3.07 5:38 PM EDT By consumeristcarey

money spending 401(k) retirement iras the real world

The New York Times has sagely advice for recent graduates wondering how to juggle saving on an entry-level salary. It is easier than you think:

Be mindful of seemingly inconsequential expenditures. Ask yourself each and every time you reach for your money: “Do I need this?” More than not, the answer will be”no”;

Strip your budget to the bare essentials. Not only will you save, but you will become accustomed to enjoying life without extravagant expenses;

Try to save 10% of your take-home pay in a 401k or Roth IRA;

If your employer offers a matching program, use it – it’s free money.

Keep the end goal in mind: “[Money] is most useful when you are old because it makes all the difference whether you wait for a bus in the rain to get to the doctor’s appointment or you ride in a cab.”

Retirement may seem far off, but the sooner you start saving, the easier it will be to grow a nest egg. — CAREY GREENBERG-BERGER

More Advice Graduates Don’t Want to Hear [NYT]
(Photo: JP Puerta)

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