Congrats — you did it! Whether you’re graduating high school, college or graduate school, there’s lots to celebrate. You’ve worked hard to earn your diploma or degree, spending years studying for exams, keeping up with your coursework and writing research papers, or even a thesis, to reach the goal you’ve accomplished today.
You may be enjoying parties with your family and friends and along with those celebrations often come gifts in the form of cash or checks. The instinct may be to splurge on an item for your dorm room or apartment, concert tickets or a weekend trip. While all those ideas sound like fun, you should consider your long-term financial goals while making a decision on what to do with the monetary gifts.
“Adulting” isn’t always fun, but it is necessary, especially when it comes to money. Depositing your graduation cash and checks into a savings account is a smart thing to do. You can build your “rainy day fund” for items you may need down the road versus spending on a whim today.
We’re here for you for every step of your financial journey.
Congratulations on your accomplishment, Graduate!