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Budgeting important for young people, which can be provided by consumer credit counseling service
By Sam Craine on May 17th, 2010
Many young people are starting a new part of life's journey having just graduated from college.
With that come important decisions regarding how to manage finances in a way that is feasible in both the short and long term. Recently, the Associated Press noted there are tactics recent graduates can use to make sure they get the most out of their starting salaries.
One key is to establish a budget, which should include monthly expenses like rent, food and transportation. Doing so can allow young people to make sure they live within their means.
The AP said young people should also avoid tapping into credit cards, especially since misusing them can lower their credit score and hurt their chance at getting other loans in the future.
"If you can't pay for it with cash, you don't need it," certified financial planner John Chladek told the wire service.
Young people looking for additional advice regarding their finances may consider visiting with a consumer credit counseling service, which can provide budgeting advice based on their income and expenses.
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