## [# Financial Advice for College Grads: 8 Tips From FAs](/sections/advisor-center/financial-advice-college-grads-8-top-tips-fas)
# Financial Advice for College Grads: 8 Tips From FAs
### Financial advisors offer simple but powerful advice for college graduates about to begin their financial journeys.
[](/authors/jeff-benjamin)
[By Jeff Benjamin](/authors/jeff-benjamin)
May 09, 2024
Edited by: Kent Thune
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As commencement speakers across the land dish out profound inspiration, advisors get specific.
The following eight nuggets of advice include a representative sampling from the dozens of suggestions gathered by etf.com to help guide college graduates in what may be the most important phase of their financial lives.
## Live Like You're Broke
From Frank Austin, founder and president of [Sustainable Financial Planning](https://sustainablefinancialplanningllc.com/) in Hopatcong, NJ:
“My best tip for recent college grads is that they should continue to act like broke college students when they graduate and keep their lifestyle expenses as close to their college expenses as possible.
"If they can save a large percentage of their income from their new jobs, they will learn the value of saving money from the onset of their working life.
"It is much easier to increase one's lifestyle but much harder to reduce expenses once a person becomes accustomed to spending money.”
## Save Till It Hurts, Then Save Some More
From Mike Hunsberger, owner of [Next Mission Financial Planning](https://nextmissionfinancialplanning.com/) in Saint Charles, MO:
“Start saving as soon as you get your job even if it’s only a small amount then increase your savings and investing amount every time you get a salary increase.
"Commit to using 25% to 50% of your salary increase to savings. This could be an annual cost of living adjustment or a raise because of a promotion or new position. Increasing your savings before you’ve gotten used to living on it won’t make it seem like you’re having to cut back. You’ll be surprised how quickly you’ll be saving more with this strategy.”
## Budget With Purpose
From Ryan Brueck, lead financial planner at[ ClearWealth](https://planwithclearwealth.com/) in Davenport, Iowa
“Start with a 60/20/20 budget.
"Don't let your living expenses exceed 60% of your income. Save, invest and reduce debt with 20% of your income. Spend 20% on whatever you want!"
## Build Credit, Manage Debt
From Alison James, founder of [WorthWise Financial Partners](https://www.worthwisefp.com/) in Houston, TX:
“Build your credit responsibly.
“Apply for a credit card with no annual fee that provides you with cash back benefits. Discover offers a great first card with excellent cashback rewards. I also recommend Wells Fargo Active Cash to those who qualify. Use this card for all of your purchases as your limit allows and pay it in full every month.
“Set up auto payment for the full statement balance from your checking account. In addition to building your credit, this approach will help you monitor and manage to a monthly budget.”
## Don't Ignore Student Loans
From Crystal McKeon, a regulatory and compliance specialist at [TSA Wealth Management i](https://tsawm.com/)n Houston, TX:
“Have a plan to start paying off your student loans.
“If you have federally subsidized student loans the loans will start accruing interest when you graduate. The sooner you can pay those off the less interest you will pay in the long run.
“If you have multiple loans you can focus on the smaller one first to feel like you are making progress. Or you can focus on the ones with the highest interest rate to pay less interest over time. Having a plan is the first step to climbing that mountain.”
## Prepare for the Worst
From Bryan Cassick, financial advisor at [Warren Street Wealth Advisors](https://warrenstreetwealth.com/) in Newport Beach, CA:
“Save up an emergency fund. It is recommended to have three-to-six months' worth of living expenses in a liquid savings account for emergencies like losing a job or medical emergencies.
“This is specifically an emergency fund and not a travel fund or new car fund that should be saved for in addition to the emergency fund amount you are comfortable having. Then, you should consider saving more for retirement and/or paying down debt if applicable.”
## Mind Your Credit Score
From Laura Barry, managing director at [Wealthspire Advisors](https://www.wealthspire.com/) in New York, NY:
“Make friends with your credit score.
“Get to know how it works and check in regularly. Take advantage of opportunities to strengthen your bond by listing rent and utility bills and utilizing autopayments. If things start to go sideways, get back on track quickly.”
## Learn to Network
From Brad Brescia, senior financial advisor at [Moisand Fitzgerald Tamayo Financial Planning and Wealth Management](https://moisandfitzgerald.com/) in Orlando, FL:
“You'll never have more time in your life than you do right now, use it wisely.
“Make the most of every opportunity to build capacity in your network, your know-how, and your wisdom, before life responsibilities start to stack up. You never know where it will lead.”
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[ Jeff Benjamin Wealth Management Editor ](/authors/jeff-benjamin)
Jeff Benjamin is the wealth management editor at etf.com, responsible for coverage related to the financial planning industry. This includes writing,… [View Bio](/authors/jeff-benjamin)
Related Topics [Advisor Center](http://www.etf.com/topics/advisor-center-0)
[Retirement](http://www.etf.com/topics/retirement)
[Equity](http://www.etf.com/topics/equity)
[Fixed Income](http://www.etf.com/topics/fixed-income)