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Financial Tips for Graduates and Parents

As we applaud academic achievement and success, here are a few financial tips that will help graduates and parents be money smart.
 
Create a monthly spending plan that you can stick to-and save-with every paycheck.
 
Track your spending and find extra money to pay down debt.
 
Although using credit cards for your purchases is easy, it’s better to wait until you’ve actually saved up the money.
 
Use credit cards wisely because this is a chance to establish a solid credit history.
 
Pay down your credit card bill – even $10 will make a difference in your debt.
 
It’s time to get real about your debt. Find out how much living with debt is costing you.
 
Don’t put your financial future in someone else’s hands. Learn to manage your own money.
 
Prioritize your debts and raise your credit score.
 
Stop spending! Making small changes can help in a big way.
 
Set aside money, even a small amount, into an emergency fund every month.
 
If you find it difficult to budget your money, keep a precise record of each of your purchases.
 
Set financial goals to cover payments and obligations. Look for ways to cut basic costs, such as carpooling.
 
It’s important to understand how income taxes work even before you get your first paycheck.
 
You are never too young to start saving for retirement.
 
Understand your spending issues . . . and save! Get to the heart of why you spend by taking the quiz found at http://www.oprah.com/money/Oprahs-Debt-Diet-Step-8/1
 
For more information and financial fitness tips visit http://financeintheclassroom.org , a nationally recognized website where financial education resources are available to teachers, students and parents.
 
Another great financial resource to help graduates and parents increase their savings and reduce their debt is Utah Saves, found at http://utahsaves.org where people can sign up to be Utah Savers by setting a financial goal, tracking their spending and taking control of their financial future.
 
Sign up for Utah Saves in Juab County at the Extension office, 160 North Main, Nephi and receive your free financial calculator, budget envelope, USU water bottle, and free subscription to the ‘Utah Saves’ electronic monthly newsletter. Our office hours are 7 am to Noon and 1 pm – 6 pm, Monday through Thursday.
 

CONGRATULATIONS AND BEST WISHES TO THE GRADUATES OF 2013! From all of us at Utah State University Extension in Juab County. 

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