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Kimberly Palmer: Financial tips for new college grads

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Published 4:00 AM

By KIMBERLY PALMER of NerdWallet

Deciding how to spend your first paycheck after graduating from college can be overwhelming, given the many competing demands on it. In addition to necessities like rent, food and transportation, new grads often also have student loans and credit card debt to pay down. Financial experts suggest first choosing the budgeting style that works best for you. Don’t forget to take taxes and other paycheck deductions into account when allocating funds. Next, start saving for retirement, and put any short-term savings into an online high-yield account. Finally, protect your credit, don’t be afraid to make mistakes and look for additional ways to earn income beyond your paycheck.

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