Fallen tree caving in home Fallen tree caving in home Fallen tree caving in home Fallen tree caving in home Fallen tree caving in home
By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Shop In RIShop In RIShop In RI
  • Home
  • Business Directory
  • Community
  • Videos
  • Articles
  • Contact
Reading: How to Help Recent Graduates Achieve Financial Stability
Share
Font ResizerAa
Shop In RIShop In RI
Font ResizerAa
  • Business Directory
  • Community
  • Videos
  • Articles
  • Contact
  • Business
  • Travel
  • Entertainment
Follow US
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Shop In RI > Business > How to Help Recent Graduates Achieve Financial Stability
BusinessFinanceSeptember 2023

How to Help Recent Graduates Achieve Financial Stability

Ameriprise Financial Services
Last updated: September 29, 2023 10:08 am
Ameriprise Financial Services
Share
4 Min Read
SHARE

Graduating from college often marks a time in life when young adults take on responsibility over their finances. If you’re the parent of a recent graduate who you’ve supported financially through college, you may be looking forward to passing the torch to them – but you may also want to help them get off on the right foot. Here are some tips you can pass along: 

Study your employee benefits. For many recent grads, this is the first time they’ve been offered a 401(k), health insurance or the chance to purchase additional time off. Before enrolling in benefits, graduates should thoroughly research and understand their options. Remind them that it’s okay to have questions, such as whether they should consider disability insurance or if a plan with a Health Savings Account (HSA) is the right fit. Their company’s human resources department or benefits provider may be good resources for information and support.

If they have questions specific to their financial situation, they could consider meeting with a financial professional. A financial advisor can provide objective advice and answers to more technical questions. 

Have a plan for your debt and credit. Graduates today have more student loan debt than previous generations, which means balancing their post-grad lifestyle with student loan payments should be a top priority. They should consider the value of consistently paying above the minimum amount due. Establishing this responsible habit can help them avoid costly interest rate charges and late fees. 

The same thinking should be applied to all forms of credit. It’s important for young adults to establish a good credit history, so opening a credit card can be a wise financial move. In general, however, it’s best to stick to one or two credit cards to avoid overextending.

Develop a budget. Remind your new grad that without careful planning, it’s easy for their hard-earned paychecks to trickle away. Creating a budget can help young adults feel in control and accountable for their cash flow. Budgeting, while often a mundane task, can help ensure their money is being spent on or saved for the items that are most important to them. 

This is exciting time for graduates, but it’s also an important time to get the right financial discipline in place. Your guidance can help them build a solid foundation.  

###

Edward Pontarelli Jr, APMA®, CRPC® is a Financial Advisor and Managing Director with BeaconPoint Wealth Advisors a financial advisory practice of Ameriprise Financial Services, Inc. in Providence, RI. He specializes in fee based financial planning and asset management strategies and has been in practice for 23 years. Please contact him at https://www.ameripriseadvisors.com/team/beacon-point-wealth-advisors or (401)824-2532, 1 Citizens Plaza Ste 610 Providence, RI 02903.

Ameriprise Financial, Inc. and its affiliates do not offer tax or legal advice. Consumers should consult with their tax advisor or attorney regarding their specific situation.

Investment products are not insured by the FDIC, NCUA or any federal agency, are not deposits or obligations of, or guaranteed by any financial institution, and involve investment risks including possible loss of principal and fluctuation in value. 

Investment advisory products and services are made available through Ameriprise Financial Services, LLC, a registered investment adviser. 

Ameriprise Financial Services, LLC. Member FINRA and SIPC. 

© 2023 Ameriprise Financial, Inc. All rights reserved.

John Ippolito
LePoer Podiatry
Meet The Dream Team: Joseph Carnevale
Ocean State Appliance is Priced to Serve
Kristi’s Kraftails
TAGGED:Ameriprise Financial ServicesFinance

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Copy Link Print
Share
Previous Article Think outside the "Box" Boxed in Black products Think Outside the “Box”
Next Article Tips to Prepare for Retirement When You Don’t Have Kids

Stay Connected

2kFollowersLike
- Advertisement -
Ad imageAd image

Latest News

Is it Safe to Exercise with an Injury?
Fitness Health July 2025
July 1, 2025
Why Aren’t YOU Getting Noticed?
Business July 2025
July 1, 2025
Stars, Stripes, and Shorelines – Celebrating July 4th in RI
Culture Holiday July 2025
July 1, 2025
Make Summer Fitness Fun: Embrace the Sunshine While Staying Active
Fitness Health July 2025
July 1, 2025

Sign Up for Our Newsletter

Please enable JavaScript in your browser to complete this form.
Name *
//

Shop In RI looks to create the best business and review network for all Rhode Island-based companies. Join our newsletter today to get the most out of Shop In RI.

Subscribe and get 10% Off*

*At participating businesses located within our Business Directory

Please enable JavaScript in your browser to complete this form.
Name *
Shop In RIShop In RI
Follow US
© 2025 Shop In RI | Designed & Developed By PMC Media Group
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?