Financial advice for recent grads
NEW YORK (AP) — After Sandra Hanna graduated from college, she moved back to her parents’ home so she could save some money. A year later, she moved out with a stash of $8,000 to help pay for her new life.
But within several months, she had burned through the cash and was starting to pile on credit card debt.
"It was my first apartment, and I felt I needed to furnish it so it looked like I was successful, career-driven, and had myself together," Hanna remembers. "And, of course, I needed a lot of nice clothes to project my new image."
Thousands graduating from colleges and universities this year will face challenges like Hanna did, but they’ll have an easier time of it if they get going on the right foot by learning early to live within their means, avoid excessive debt and save for the things they want, experts say.
Hanna, 26, a graduate of the University of Western Ontario, found her financial bearings by forming a "money club" called Smart Cookies with four other friends in Vancouver, British Columbia.
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