Financial Tips for New College Grads

A tassel with 2023 on it rests on a graduation cap as students walk in a procession for Howard University's commencement in Washington, on May 13, 2023. Alex Brandon / AP

For new college graduates, receiving that first post-degree paycheck can be almost as exciting as getting the diploma itself. But it also presents a challenge: Given the many demands on a young person’s budget, how should those funds be managed?

We asked five money experts to share their best personal finance strategies to help this year’s college grads successfully launch their financial lives. Here’s what they said.

Find Your Budgeting Style

To figure out how to allocate your money toward needs, wants, and everything else, Erin Lowry, author of the “Broke Millennial Workbook,” says that instead of following the latest budgeting trend on TikTok, it’s helpful to just sit down with a pen and paper. “Write down what your big expenses are,” she says.