Savings accounts earn a higher rate of interest than checking accounts. Using Credit Wisely Student Loans Begin making payments as soon as your deferment period is up. If you default on your student loans, the government will make your life miserable. Auto Loans Don't buy more car than you can afford. Make sure the monthly payments fit in your budget.
New vehicles depreciate significantly in value during the first few months.
Unless you plan to keep the vehicle for 10 years or more, it makes more sense to buy a used vehicle that is already partially depreciated. Never charge something that you can't afford to pay for immediately. If you can't afford it, don't buy it. Credit cards give you the illusion of greater purchasing power, but you can get in over your head very quickly. There has been a dramatic increase in bankruptcy filings among people in their early 20's due to the easy availability of credit cards.