ACCC Offers Four Money Lessons For College Graduates

ACCC provides four tips on how college graduates can best maximize a new salary in today’s financial landscape.

Boston, MA – May 15, 2018

Money Lessons for College GraduatesThe transition between college and the workforce can be a tricky time financially for recent graduates. Students often graduate with the immense burden of student debt, on top of the stress of finding a job to begin repaying those loans. To help with this, national nonprofit American Consumer Credit Counseling (ACCC) provides four tips on how college graduates can most efficiently maximize a new salary in today’s financial landscape.

“Unfortunately, many students don’t learn basic money management and financial literacy skills before graduation,” said Steve Trumble, President and CEO of American Consumer Credit Counseling. “These skills are vital, and it’s important that recent college graduates get off on the right track when beginning their career by learning how to manage their finances.”

According to the National Financial Educators Council, more than half (57 percent) of college graduates plan to live with their parents following graduation, and 62 percent expect to graduate with over $27,000 in student loan debt. More than three fourths (76 percent) of college graduates wish they had more knowledge on how to prepare for their financial future.

ACCC provides four money management tips for recent college graduates.

  1. Invest in Your Retirement – There are so many reasons to invest early in your retirement. As a younger worker, time and compound interest are still on your side. Every year makes a big difference when it comes to interest building wealth for you. Learning more about retirement now and avoiding some common retirement myths can make a big impact down the line. Most companies offer 401(k) plans. Many employers will also match up to a certain percent of contributions. Make sure you invest as much as you need to get the maximum company match.
  2. Pay Off Student Loan Debt – As you invest in retirement, you also need to figure out a solid student loan repayment strategy. Eliminating those loans as fast as possible is the goal. You will pay less interest and have more funds available to funnel towards travel, a house, a car or other big financial goals. It may seem like you can take as long as you want with low-interest rates, but that’s not the case.
  3. Live Below Your Means – Now is the perfect time to get used to living below your means. Don’t fall into the trap of overspending and developing luxury habits. Commit to saving and paying off debt to give your future-self-financial freedom. It’s much harder to downgrade your lifestyle to accommodate budget changes rather than spending or saving a little more after budgeting responsibly. You might consider using public transportation instead of a car, live with roommates, or find a less expensive apartment. These types of ideas are fairly common for Millennials and help your budget stretch further.
  4. Utilize Budgeting & Other Technology – Millennials have the advantage of technology to aid in financial management and advice. With all the budgeting and other financial related apps, technology can be a beneficial tool. It’s great to be able to easily research financial questions or compare different banks and credit unions. Online banking apps are another great weapon to use. Plus, there are plenty of ways to invest in the stock market from the comfort of your own home. Just make sure you have a budget that you follow and adjust as needed.

ACCC is a 501(c)3 organization that provides free credit counseling, bankruptcy counseling, and housing counseling to consumers nationwide in need of financial literacy education and money management. For more information, contact ACCC:

  • For credit counseling, and student loan counseling call 800-769-3571
  • For bankruptcy counseling, call 866-826-6924
  • For housing counseling, call 866-826-7180
  • Or visit us online at

About American Consumer Credit Counseling

American Consumer Credit Counseling (ACCC) is a nonprofit credit counseling 501(c)(3) organization dedicated to empowering consumers to achieve financial management through credit counseling, debt management, bankruptcy counseling, housing counseling, student loan counseling and financial education concerning debt solutions. In order to help consumers reach their goal of debt relief, ACCC provides a range of free consumer personal finance resources on a variety of topics including budgeting, credit and debt management, student loan assistance, youth and money, homeownership, identity theft, senior living and retirement. Consumers can use ACCC’s worksheets, videos, calculators, and blog articles to make the best possible decisions regarding their financial future. ACCC holds an A+ rating with the Better Business Bureau and is a member of the National Foundation for Credit Counseling® (NFCC®). For more information or to access free financial education resources, log on to or visit