Career Woman

Finance tips for early careerists and graduates


Outlines several smart finance tips for those just starting their career paths.

You’ve survived all those semesters in college and landed a job. Now, you’re making pretty good money, or maybe your salary isn’t quite what you hoped it would be. No matter which of these is closer to the truth, you need to start paying attention to your personal finances, which is where the clever finance tips below will become useful to start your career life on a strong money foundation.

You may be surprised to learn that as long as you have enough to cover your basic needs, running into financial problems has less to do with how much money you are making and more to do with how you manage it.

Early career finance tips

The finance tips below can help you manage your finances better.

Finance Tips 1: Make a Budget

A budget can give you clarity about your whole financial picture, starting with your incoming money and outgoing expenses. To start with, your focus needs to be on being able to cover your living costs without going into debt, paying off any existing debt, creating or maintaining an emergency fund with around six months of expenses in it, and putting money away for retirement.

Your first salary may seem like an infinite source of money, but it is possible for it to disappear from your account faster than you think.

To create your budget you will need paper, pen and a calculator.

Start by putting the net salary on paper and not the gross one. The net is the amount you receive after deduction of taxes, benefits and other things. Yeah, you won’t get all that amount – and yes, it’s crying.

Then collect your bills and take the average of what you usually spend on house bills, rent, food, transportation, etc. Then, understand how much you spend on hobbies and social life. You know that movie, the weekend show, the Friday beer? So! Remember to do the calculation by month, okay? If you have any debt, it will enter as an account payable as well.

Of course, there are variable accounts, such as pharmacy or perfumery, which are things we don’t need every month. Also consider these accounts based on your planning. How much time do you need to spend money on them?

Once this is done, voilà, you will have an average of the amount you need to keep the bills up to date and allow certain amusements.

Controlling your “inflow and outflow” means that you will not find yourself in a situation where you have burst two weeks paying for dinners and will not be able to pay your electricity bill.

Pass this information to a spreadsheet and create tabs for each month of the year with the inputs and outputs of your money. This visibility will give you greater control.

Finance Tips 2: Refinance Your Student Loans

Are your monthly loan payments currently higher than you would like? You might be able to get a better deal if you refinance your student loans. If you’re worried that this means reams of paperwork, wasted time and headaches, you’ll be happy to know that you can fill out your application in a matter of minutes, providing personal and financial information and then choosing the monthly payment, loan terms and rate type that suits you.

Finance Tips 3: Investing

You should be maximizing your retirement contributions if you have an employer-sponsored plan. However, as long as you have your debts squared away and a healthy emergency fund, you can also start to look at investing beyond your retirement account. There are many different options, and diversifying is never a bad idea. You can start investing with as little as a few hundred dollars, signing up for a brokerage account and using a robo-advisor to select your investments. You might also want to consider investing in real estate, cryptocurrency or other vehicles.

Finance Tips 4: Set Goals

It’s important to set financial goals, and just as you would do with other types of goals, they can be a mix of small, medium, and long-term. If you’re still working on building that emergency fund, that might be a small or medium-term goal. Saving up for a down payment on your first home might also be medium-term. If you have a kid, you may be putting away money for their college education.

Finance Tips 5: Save

When starting a new career, the trend is that current earnings are much lower than the previous ones. Therefore, try to build, even if little by little, a special financial reserve for some emergencies, such as car maintenance, cell phone or other electronic device repair, purchase of some necessary medicine and unexpected expenses with a veterinarian. This way, you will not be without money and will be able to have a much quieter and fearless change.

Finance Tips 6: Reassess Spending

Each person has their standard of living and their own way of spending and organizing their money. While some find it easy to save, others always give in to impulse shopping and stay in the red before the end of the month.

Given this, it is very important to reassess these issues until you find a financial balance that allows you to save or even invest. A good tip is to write down and monitor your revenues and expenses monthly, thus identifying some cutting possibilities and the best savings potentials for the future.


As long as you are managing your money responsibility, and taking measures to protect and maintain your wealth, keep in mind that those goals don’t all have to be practical ones. You can save up for a car you’ve always wanted, a dream vacation or a sailboat. Some people may want to set aside a certain amount of money to donate to charity. Finally, even if you are young and healthy, it’s a good idea to make an estate plan. This can also involve goal setting and thinking about how you want to manage your assets over the long term.


About Business Woman Media

Our women don’t want to settle for anything but the best. They understand that success is a journey involving personal growth, savvy optimism and the tenacity to be the best. We believe in pragmatism, having fun, hard-work and sharing inspiration. LinkedIn

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