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•  Personal Finance Tips for College Grads
•  Plug into Online Banking and eStatements
•  Could Your Family Make It on One Income?
•  4 Tips for Enjoying Farmers Market Fare
May 2011
 

Personal Finance Tips for College Grads

Graduating from college is a huge accomplishment, but the learning doesn't stop when you receive your diploma. One area you should make a point to learn more about is personal finance.

The Basics

How you manage money now can affect your finances for years to come. By paying bills on time, keeping debt to a minimum and putting money away in savings, you can establish a strong financial foundation. These good habits are recognized by lenders when they decide whether to give you a loan for a new car or your first home – and at what interest rate.

Good money managers can expect to pay less in interest than those who don't pay their bills on time or who max out their credit cards. Try to keep your credit card debt to 10% or less of your available credit. Saving for emergencies will help you avoid using credit cards when times get tough.

Managing Student Loan Debt

A big challenge most college grads face is getting a handle on student loan debt. These loan balances can be daunting, and you will be expected to start making payments on most federal student loans six to nine months after you graduate. In some cases you may be able to defer your loan payments, lower your payments with an income-based repayment plan or be eligible for loan forgiveness. Find out if you qualify by visiting www.studentaid.ed.gov.

In most cases you will end up paying more interest when you extend or defer payments. Stick with your original payment plan if you can manage it.

We're Here to Help

At The First we have the tools to help you establish a bright financial future. Rely on us for great checking and saving products and as a resource when you need to borrow money for those big purchases in life.

Websites not belonging to this organization are provided for information only. No endorsement is implied.

Streamline Your Finances Online

We know time is precious, and getting to a branch isn't always easy to fit into your schedule. Take advantage of these online services to save time and simplify your finances:

  • Online Banking. Manage your checking and savings accounts with the click of a mouse.
  • Online Bill Pay. Schedule and pay bills on time, every time.
  • eStatements. Keep all of your statements together and organized in one spot.

Want to learn more? Just give us a call at 215.860.9100 or visit us online at www.fnbn.com.
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This publication does not constitute legal, accounting or other professional advice. Although it is intended to be accurate, neither the publisher nor any other party assumes liability for loss or damage due to reliance on this material. Images may be from one or more of these sources: ©Thinkstock, ©Fotolia, ©iStock. ©2011 First National Bank and Trust Company of Newtown.
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