How do I start saving after college?

Create an emergency fund and save six months of expenses.

quote:

---

I'll likely be back with my parents for the first year of my work

---

quote:

---

How do I start savings after college?

---

well basically you take this money you would be spending and then save it.

I got to do the free living thing out of school for a year as well. It was HUGE for me. I lost all of that money when I bought an engagement ring and put a down payment on a house , but it got my life started down the right path. Get your 401k match, but put money in a Roth IRA if you qualify. I'm fairly certain any principal you pay into it can be taken out without penalty. Therefore, it jumpstarts you retirement, but you still have the safety net.

If you are saving for a house of your own, find a high interest checking account. At the time, I found a 4% checking account where I just had to have 10 debit transactions and a direct deposit to qualify. It's since moved down to 2%, but still not a bad deal. Just have to be safe with your debit card and checks if you have a lot of money there.

The best way to start saving is to do just that, start. Burn it into your mind that you need to save more than spend and the rest will come after that. Beyond that, listen to these other guys about education and strategies. But remember, there are basically just thise who save, and those who don't. The former is always better off than the latter, regardless of how the saving is actually done.

quote:

---

How do I start saving after college?

---

Live with your parents.

My first year out of college I lived in my grandmothers old house which is paid off and no one was living there. It was a hour drive from my job, but it was better than shelling out 1k plus in rent. It is worth the sacrifice if you can bare to live with a family member for free for a year. I saved nearly 80% of my take home salary buy not paying rent. If I wouldn't have gotten married and let my wife talk me into living closer to the city we could have bought a start home cash. Instead of renting for a year and getting a mortgage.


Once you build a nice sum of money in your savings accounts, saving will become an addiction. Well at least it did for me. I hate shelling out $1700 a month in rent because my wife didn't want to live in Lafourche Parish.