Managing Your Finances After You Graduate


When you study at university, there tend to be plenty of different resources and professionals at hand to help you manage your finances. You will receive notifications from your institution regarding when scholarships, bursaries, and grants will enter your account. You can access materials that will teach you how to budget. You may also have a student bank account that allows you to monitor your spending. However, when you graduate and leave university, you may feel like you are flung into the big, wide world with little advice or assistance regarding your finances. But not to worry. There are various steps that you can take in order to avoid slipping into major debt! Here are just a few to consider.

Create a New Budget

Whether you head out of uni and don’t have a job, or whether you walk straight into employment, you are going to have to create a new budget. The amount of money making its way into your account will inevitably be a little different. Your outgoings may change too, as graduates have to fork out extra expenses, such as taxes, that students don’t. So, take a look at your income, deduct necessary expenses and note down your new disposable income. If this is more than you are used to, great! If it is less, make sure to avoid overspending. Live within your means! I find that making a spreadsheet of my monthly expenses is super helpful, I can keep track of my bills and how much I make in a month or spend in a month. 

Consider Student Loan Repayments

When you leave university, you’re going to have a lot of student debt to your name. So make sure you are familiar with the process of repaying your student loan. Generally speaking, you will only have to pay this back once you exceed a certain income. If you are employed and exceed this limit, payments will automatically be taken from your wages. If you are self-employed, you will have to put contributions aside and pay these when you submit your tax return. If you come into a lot of money, you can always pay off your student loan in advance. You can find out more about this at

Sell Unnecessary Belongings

Many of us purchase multiple expensive textbooks throughout our university experience. If you are never going to use these again, you should consider selling them to people in the year below you on your course. They will be glad to have a second hand copy at a cheaper cost, and you will free up space and make a little money back at the same time!

Managing your finances following university can be relatively complex – after all, it’s untraversed territory. However, hopefully, the above advice will help to get you started in the right direction! Incorporate them into your financial regime as soon as possible!

I hope you enjoyed the post and learned something from it!

Thanks so much for reading, as always <3

November 30, 2018
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