Easy to Follow Budget Ideas After Graduation

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You’ve just graduated from college! Congratulations and now it’s time to put those degrees to work and enter the workforce. Many new college grads start entry-level jobs and juggle new expenses like rent, healthcare costs,  and student loan payments. As of 2019, the average American had $37,172 in student loan debt with an average monthly payment of $393. The majority of Americans say that their finances after college were more complicated than prior. So we have compiled some ways to organize your finances and budget to make the most of your new salary.

After graduating, the majority of student loan companies will give you a period of deferment, understanding that it may take some time to find a job. If you are fortunate to have a job upon graduation utilize this time to start paying early or to save additional money you may not be able to save once payments start.

Budget Apps

There are many budget apps out there that are great for budgeting. You can preset your budget into the app on your phone and link it to your bank account. This is helpful because you are able to track real-time whenever you swipe your card how much money you have left to spend on certain things.

Envelope Method

This method has been around for some time now, in this method you get a series of envelopes for expenses and savings goals. Each envelope is for a category of your budget and you fill it with cash until you reach your goal or its time to pay the bill. This method requires you to use cash and also requires for you to periodically recount the contents of the envelope to know where each stands.


This method is simple but still effective, utilizing your computer software you create a simple spreadsheet (there are many templates you can find online). You can then input your variables based on the budget you’ve created. This budget method requires you to periodically input your spending so that the spreadsheet can calculate how much money you have left over in each category.

You may decide to use one or more of these budgeting ideas to get started on a budget. There is no right or wrong way to budget as long as you are aware of the money you are spending and you are saving what you can. Budgeting means being specific about your financial goals and devising a plan to get there.


If you have questions about how you can create a budget to reach your financial goals, give us a call at (800) 835-3400 or visit us online at caminofcu.org. Our team of Member Advisors can help set you up for success.