3 Important Finance Tips Help Graduates Succeed

Woman sitting in a meeting

By Mary Jo Healey, Market Manager – Des Moines, Marine Credit Union

Out on your own financially for the first time? Got a new job with a steady paycheck? Make sure you understand your options to finance your expenses so you don’t get in over your head.

  1. Accessibility is not affordability – With your first credit card, your limit will probably be higher than you can afford to repay. Understand that because you have access to buy something, does not mean you can afford to buy it.
  2. Wants are not needs – The truth of the matter is that once you have access to things you want, you may see them as a “need” and no longer a “want.” An attitude of gratitude is extremely important – be happy with the things you have. It affects every area of our lives every day, including finances.
  3. Credit cards are not money – Credit cards are as convenient as using cash, so it seems like you are spending money when you use them. In reality, you are borrowing money. Credit cards leave you owing money and create debt just as a loan would.

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