Five Money Lessons for New College Grads - WSJ.com

• Five Money Lessons for New College Grads - WSJ.com

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  This spring's college grads are heading out into a world where jobs are tough to come by.
  • Here are five broad financial lessons that can pay dividends for a lifetime:
    • 1 Savings matter.
      • People who save, for the most part, have learned to live within their means. Most likely, they have a handle on how to budget and how to shop carefully.
    • 2 Find the fine print.
      • Knowing the significant details will help you make better decisions and avoid much grief later on.
    • 3 Focus on the total cost.
      • Over and over, salesmen will try to lure us into buying a nicer car or house or taking on a longer loan by touting the monthly payment.
      • calculate the full cost including interest and fees before weighing the monthly bill.
    • 4 Debt is the great divide.
      • Pay your bill on time and in full every month, or at least pay as much as you can possibly pay.
    • 5 There is a permanent record.
      • It's not your academic transcript that will stick with you, but how you manage your money.

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