Graduation is a huge accomplishment — whether you’ve just crossed the stage with your high school diploma or finished college and are diving into the working world. It’s an exciting time, but it also comes with some big changes. For many, this is the first time you’re managing your own money, making financial decisions solo, and figuring out how to “adult” in the real world.

Don’t worry — you don’t need to have it all figured out right away. But you can start strong by building a few smart habits early on. This guide walks through some of the most important financial tips to help you navigate life after graduation with more confidence — and fewer money headaches. Let’s jump in!

1. Create a Budget You Can Actually Stick To

We get it — budgeting doesn’t sound like fun. But when you know where your money’s going, it becomes way easier to hit your goals (and still have a little left over for fun).

Start by figuring out how much money you’re bringing in each month (from a job, side hustle, etc.), and then break it down:

  • 50% for needs – rent, groceries, utilities, insurance
  • 30% for wants – eating out, subscriptions, hobbies
  • 20% for savings and debt – emergency fund, student loans, retirement

You don’t have to be perfect — just consistent!

2. Open the Right Bank Accounts

If you’ve been using a student account or shared one with your parents, it’s time to get your own setup. You’ll want:

  • A checking account with no surprise fees and easy access to online or mobile banking
  • A savings account where you can start stashing cash for goals or emergencies

Look for a bank (like us!) that’s transparent, local, and there when you need to talk to someone. And if you’re moving or traveling for work, Ergo Bank’s ITMs and mobile tools help you manage your accounts from anywhere.

3. Start an Emergency Fund — Even if It’s Just a Little

An emergency fund is one of the smartest things you can build in your 20s. It’s your buffer when life throws a curveball — whether that’s a broken phone, unexpected bills, or losing or changing jobs.

Try to start with at least $500 to $1,000, and aim for 3 to 6 months of expenses over time.

Even if you can only put away $25 or $50 a month, that adds up faster than you’d think. Set up automatic transfers from checking to savings so you don’t even have to think about it.

4. Understand (and Manage) Your Student Loans

Student loans can feel overwhelming, but ignoring them won’t make them go away. Take a few minutes to:

  • Find out how much you owe, to whom, and your interest rates
  • Know your grace period—most loans give you 6 months after graduation before payments start
  • Explore income-driven repayment plans if money’s tight

Set up auto-pay to avoid missing a payment, and make extra payments when you can to knock out interest faster.

If you need help building a budget around student loan payments, Ergo Bank’s team is happy to help you run the numbers.

5. Start Building Credit (Without Getting in Over Your Head)

Your credit score affects everything — from renting an apartment to getting a car loan to (someday) buying a home.

If you don’t have a credit card yet, now’s a good time to consider one — but with some ground rules:

  • Only spend what you can afford to pay off each month
  • Set up automatic payments to avoid late fees
  • Keep your balance low (under 30% of your limit is best)

Used responsibly, credit cards can help you build a strong financial future. Not sure what type of card makes sense for you? We can help you get started. Get more info about credit cards here

6. Learn the Difference Between Needs vs. Wants

When you’re finally earning a paycheck, it’s tempting to treat yourself a little too often. And while you should enjoy your hard work, learning to tell the difference between needs and wants will help you stay ahead.

Quick Guide:

Needs:

  • Rent or mortgage
  • Groceries
  • Gas or transportation
  • Insurance and bills

Wants:

  • Streaming subscriptions
  • Daily coffee runs
  • Impulse shopping
  • Upgrading your phone “just because”

You don’t have to cut out wants completely — just budget for them on purpose, not by accident.

7. Save for Bigger Goals Early

You might not be thinking about retirement yet, but saving early — even small amounts—gives your money time to grow thanks to compound interest.

If your employer offers a 401(k) with matching contributions, take full advantage of it — it’s free money. If not, you can look into opening an IRA (Individual Retirement Account).

Also think about other goals:

  • Buying a car
  • Saving for a down payment
  • A wedding, travel, or starting your own business

We’re happy to chat with you about options, even if you’re just starting to save.

8. Stay Scam-Savvy

Young adults are a growing target for online fraud. Scammers are getting clever—posing as employers, sending fake bank alerts, or using phishing links to steal your info.

Red Flags:

  • Messages with poor grammar or strange links
  • Urgent language like “Your account is locked!”
  • Emails or texts asking for personal or financial info

Don’t click. Don’t share. Call us instead. Ergo Bank is always here to help verify something that doesn’t seem right.

9. Ask for Help — That’s What We’re Here For

You don’t need to know everything about money right away. What matters is being willing to learn — and having the right support.

At Ergo Bank, we’re not just here to open your account and send you on your way. We’re your local banking team, and we want to help you:

  • Build a budget
  • Understand your loans
  • Save for what matters most
  • Avoid common financial mistakes

Whether you prefer to stop in, call, or chat online — we’ve got your back.

You’ve Got This (And We’ve Got You)

Graduating is a huge step. Learning to manage your finances is another. And while it might feel overwhelming at first, starting with a few simple habits now will set you up for a stronger future.

If you’re ready to get your accounts in order, set up savings, or just have questions — we’re ready to help. Stop by your local Ergo Bank branch or visit us online to get started.

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