Top tips for recent graduates

Finishing University is a really exciting time but the prospect of finding a job and managing your finances can be daunting. So here I'm going to take you through some great tips on how to make your graduate funds go further.

Emma Roberts gives some handy tips to recent graduates

Get a great graduate account

Don’t feel like you have to stay with your student bank after you graduate. Have a good look around to see what other graduate accounts are on offer. Look for the one with the longest interest-free period but also make sure you know your overdraft limits, as these sneakily decrease every year.  You can compare a range of current accounts right here at lovemoney.com.

Transfer your debts

If you don’t think you’ll be able to pay off your student overdraft in time, you might want to think about getting a 0% purchases credit card. This means you can spend on your card without worrying about paying interest for a year or more. So you could use your card to pay for expenses, whilst paying off your overdraft with any other income you have. Just make sure you pay off the card in full before the interest free period ends.

And transfer your debts again

If you’ve been using your 0% purchases card for your expenses but don’t think you’ll be able to pay it off before the interest free period ends, you can use the secret weapon of a 0% balance transfer card. For a small fee, you can transfer your outstanding debt to this card and enjoy a period of interest-free payments. Just make sure you don’t spend on this card, otherwise you’re likely to get caught out by a nasty trick known as negative order of payment.

Make the most of your discount

And finally, just because you’ve graduated it doesn’t mean you have to abandon the perks of having student discount. Most student discount cards are valid until the autumn, so make the most of it! Discounts can usually be enjoyed at places such as New Look, Tony and Guy hairdressers and even Apple.

So there you go, you don’t need a degree in graduate finance to know that following these tips will save you a bundle of cash!

Compare credit cards at lovemoney.com