Saving Money After Graduation to the real world, you may face new challenges and responsibilities when it comes to managing your finances. But don’t worry, you have the tools to succeed and set yourself up for a long-term financial future. Here are several tips to help you get started.

1. Create or boost your emergency fund.

Life is expensive, so you’ll want to have a cushion for when the unexpected happens. One way to do this is by setting aside a minimum of $500, or the amount of your starting salary, in a savings account that earns high interest so it can grow.

2. Make a budget and commit to it regularly.

You’ve likely mastered the basics of creating a budget during college, but a real-world budget is more than just a list of monthly expenses and income. It’s also a tool for understanding your spending habits and identifying patterns that may not serve you in the future. For instance, if you notice you spend a lot of money on food but don’t eat well at home, adjusting those spending habits can help you save more in the future.

3. Pay down your debt.

If you have student loans, credit card debt or personal loans, it’s important to make payments on time to avoid paying extra interest and minimize the total cost of the loan over its lifetime. This can be done by making a list of all your debts and breaking them down by type, current balance, interest rate and first payment due date.