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Graduating can feel like a mix of proud emotions and vague uncertainty about the future. Especially when it comes to financial wellness. You walked the stage, tossed the cap, have your degree in hand, but nobody handed you a manual for how to navigate this next chapter of your life.
💡 We believe that schools should be teaching financial literacy as a standard practice. One of the ways we are closing this literacy gap is with our personalized AI tool, WiseOne, which helps you make better decisions with your money. It’s Essential!
Let’s dive into your next steps and help you build a financial plan.
Review Your Financial Health
One thing to realize early on is that financial health isn’t about a one-size-fits-all solution or a quick sprint. It’s about building literacy and stamina.
Review your financial health by taking inventory. Ask yourself: What do you owe? What do you earn? What’s coming out monthly?
The goal isn’t to feel bad about your financial circumstance, but rather, to own it!
Now you can start building strong foundations. Set up a simple budget so you can dictate where your money goes. Money Management can help you get organized with the right tools to see your checking, savings, loans, and investments in one place.
The Loudest Line in the Budget
The average borrower with undergraduate student debt owes $29,300, according to College Board.
Having loans to repay can feel overwhelming. However, you are not powerless.
Here are foundational tips to help you pay off your student loans faster.
- Make a habit of paying more than the minimum when you can. Use any extra cash, like your tax refund, work bonus, or graduation gift, to help here.
- Set payments on autopay to lower your interest rate over the lifetime of the loan.
- Explore repayment strategies and forgiveness options. If you’re in public service or a lower income bracket, these are built for you.
Explore different ways to pay off student loans through side hustles, which help you increase your income!
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