1. Get yourself ready with an emergency fund
An emergency fund has always been important, and it doesn't matter how rich or poor you’re, what matters is how regular you’re with the amount you add to the emergency fund. Some people think that emergency fund only helps the poor because they needed more. It may be true that poor people need emergency fund, but it is one of the most effective ways to avoid hitting the panic button when things get out of hand.
2. Being dependent on credit card is not a smart thing to do
With a credit card in your wallet, you might feel richer than what you are. However, it is an Illusion and not a fact. Avoid credit cards to the extent possible. If you have not applied for one, make sure that you do not apply for that in the future even. It is a trap, and you should not fall for it. If you have already taken a couple of credit cards in the past, consolidate your credit cards and try to get rid of the debt as soon as possible.
In the case of college grads, it usually happens at the expenses starts rising once they get out of college and credit cards to turn out to be the easiest way in which they can fulfill their needs and pay for the same on a later date. However, you’ll realize it is a mistake only once you have abused power and things are turning out to be difficult for you.
3. Gift cards are not worth
Once out of college, we all love to express our love monetarily, and in the process, we start looking for different alternatives that are available for us. On the list, we even find gift cards, and it looks like it is one of the best options we have, but it is not. In fact, it is an option that might turn out to be a burden soon. So, avoid gift cards to express your love to anyone.