1:  Set Up a Basic Financial Plan Students should write down their short-term financial goals (like paying off credit card debt or saving for a car) as well as longer-term goals (like retirement or buying a house). As time progresses, students will be able to adjust their goals to reflect their current financial situation. FBN Tool: How Does Inflation Impact My Standard Of Living? Tip No. 2:  Set Up a Basic Monthly Spending Plan It’s important for students to plan their monthly cash flow (what’s coming in and what’s being spent) to save for their goals and cover bills and discretionary expenses. There are many online tools that are easy to use that help track spending and build budgets. Establishing a spending plan is also the best way to stay out of credit card debt--assuming you follow the spending plan!  Which leads to Tip No.3… FBN Tool: How Much Am I Spending? Tip No. 3:  Be Cheap During Your First Year Post-Grad Recent grads are used to small living quarters, eating cafeteria food and drinking cheap beer and best way for them to get ahead financially is to keep this mindset during the first year after graduation. Students should live cheaply; get a roommate (or live at home), and save as much as they possibly can (and don’t run up the credit card!).  Students can easily save 30-50% of your take-home pay if they’re really budget conscious, which will go a long way toward funding their goals or paying off credit cards or student loans.  (NOTE:  speaking of student loans, whatever you do, DO NOT default on your student loans. Make your monthly payments or seek deferment or forbearance if you have to, but whatever you do, don’t default--doing so can seriously damage your credit and keep you from being able to buy a car or home in the future.)  Tip No. 4:  Don’t Buy a New Car The worst mistake students can make right out of school is buying a new car.  By “new” I mean brand-new--never been owned, with the new-car smell and “sweet” financing from a friendly local car dealer. New cars lose most of their value in the first two to three years, so they are terrible investments.  And don’t even think about leasing. FBN Tool: How Long Will It Take To Pay Off My Credit Card? Students who already have a car in decent shape should keep driving it (see Ti