Money buys you freedom: Advice for new college graduates

The article highlights the impact of student loan debt on personal freedom and career choices for college graduates2. It suggests that having student debt can influence individuals to make career decisions based on financial stability rather than personal interests or passions. The burden of student debt can also delay major life decisions, such as marriage, starting a family, or buying a home, as graduates may prioritize financial stability before taking on such responsibilities3. Furthermore, the article emphasizes that debt can be a roadblock to building a fulfilling life, as it can limit one's options and opportunities.

The author suggests that new graduates should approach setting financial goals by first understanding their money patterns and spending habits. They should then create a budget, prioritizing their needs, wants, and savings. Additionally, the author recommends practicing small, good habits like checking bank account balances and credit scores regularly, paying off credit card balances, and making regular loan repayments5. Graduates should also make a plan to save money, taking into consideration both short-term and long-term goals, and learn about different ways to grow their money over time.