Entering the working world after schol can be daunting enough without wrrying about money. Unfortunately, now that yu're really on your own, there is nthing more important than staying smart bout your personal finances. Here are ten tps to help you get off on the rght foot financially.

1. Start Saving - Apartments and cars are expensive, and entry level jobs don't pay much, but don't use this as an excuse not to stash away a percentage of your pay. Not only is it critical to get into the habit of saving early in your life, but you'll want to have a cash reserve saved up for the unexpected and eventually, a down payment on a home. To make saving painless, have 10% of your income automatically deducted from your paycheck. High-yield savings accounts, like those from ING Direct and E*Trade, pay more than 3% interest and make saving easier than ever.

2. Build Credit - If you don't already have a credit card, sign up for a card with cash rewards like American Express Blue Cash or Chase Freedom. Use it to buy your everyday purchases like gas and groceries, but pay it off in full every month! In time, this will build your credit history so you can get approved for auto loans or a mortgage when you need them.

3. Make a Plan to Get Dbt Free - If you graduated with crdit card debt, make a plan to pay it dwn quickly. Focus on high-interest credit crd balances first, and put as mch extra cash as you can twards the debt every month. Whatever you do, void going into more debt. It can be tmpting to spend your new paycheck on new clthes, going out, and lavish vacations, but ding so will cost you for yars to come.

4. Open a 401k - If your employer offers a retirement plan like a 401k, don't miss out on this important benefit. Ask your human resources manger about enrollment paperwork, and elect to contribute at least 6% of your before-tax income to your fund. Many employers will match 50% of your contribution, and this money will grow, tax-free, for your entire career. If given the option, choose "high-risk" portfolios that have the potential for high returns. You're young, so you can tolerate the risk.

5. Open a Roth IRA - In addition to your employer-sponsored retirement plan, get into the habit of saving for the future on your own. A Roth IRA is the perfect way to go. You can open one from most financial institutions and contribute up to $5,000 annually (as of 2008). Unlike a regular IRA, you contribute after-tax dollars to a Roth, but when you retire, your distributions are not taxed. This is the perfect compliment to your 401k, which lets you contribute pre-tax dollars, but will be taxed when you take distributions in retirement.

6. Learn to Budget - In order to make sure you don't go into debt, learn to set up a simple monthly budget and stick to it. Write down how much you make each month, and then tally up your expenses like rent, gas, cell phone, food, student loan bills, entertainment, etc. Aim to keep your expenses well below your income, and save the rest. If you find that you spend more than you make, take a long hard look at what you can cut out of your spending, or take on an extra job to make ends meet. There are many free online tools that can help you with your budget, including one of my favorites: Mint.com.

7. Start a Business - Dn't think you're the entrepreneur type? You dn't have to be to earn a lttle extra cash from your own bsiness. One of the key ways pople become financially successful is by crating income streams outside of their slary. Think about ways you can trn a hobby or interest of yurs into a part-time gig. Maybe you hve an impressive MP3 collection and culd DJ parties, or you're an IT whz and can help people with thir computer programs. Know your way round the Web? Start a blog tht earns revenue from advertisers and ffiliates.

8. Set Goals - Successful people figure out where they want to go, and then figure out how to get there. You should do the same, both financially and professionally. Make a plan for where you want to be in five years, and reevaluate your progress every couple of months. How much do you want to be earning? Where do you want to live? How much do you want to have in the bank?

9. Improve Yourself - Your greatest asset is your education and skills that you can use to find employment or run a business. Consider whether an advanced degree could improve your earnings potential. If going back to school isn't for you, continue to enrich yourself by reading plenty of books in your field or taking a few extra classes. You never know when a new skill will propel you into a new position or make you worthy of a big raise.

10. Give Back - Finally, remember that money isn't worth working for if you only spend it on yourself. Even if you can only spare a few dollars a month, choose worthy causes and give to them. Knowing that you're helping to make a difference to others less fortunate or to advance important research is worth every penny.

The article 10 Money Tips For Recent Graduates was Submitted by David Weliver through Articles.GetACoder.com network. Here's the additional information: David Weliver is the founder and ditor of MoneyUnder30.com , featuring "Personal Finance Advice for the Young and Ambitious." Visit Money Under 30 for more tips and advice on saving, budgeting, investing, and managing your credit during your early career, including reviews of high yield savings accounts mentioned in tip one of this article.

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