As new graduates prepare to transition into the workforce, Iowa Trust and the Independent Community Bankers of America (ICBA) are providing tips to put them on the path to a successful financial future.

“As financial stewards of our community, Iowa Trust can be a resource for individuals taking the next step in their career journey to help them assess their financial situations and create a plan based on their unique circumstances and life goals,” said Kris Ausborn, Chief Executive Officer.

Iowa Trust offers the following tips to help graduates create a financial game plan to set them up for success through their major financial lifecycle events:

  • Start a budget. Use tools like Iowa Trust’s financial calculators to track your income, expenses, and savings. Establishing a budget early helps build strong financial habits and prevents overspending.
  • Prioritize Debt Management: Consider making extra payments on student loans or refinancing options to lower interest rates. If you have federal student loans, explore income-driven repayment options that adjust your monthly payments based on your income.
  • Build a Credit History: You can start with a low-limit or secured credit card our using student loan payments to build credit. This is critical for future purchases like a home or car and may even impact your ability to secure rental housing or job opportunities.
  • Invest in Yourself: Explore opportunities to continue your professional development and increase your earning potential. Many employers offer education benefits or tuition reimbursement programs that can offset costs and lead to long-term career growth.
  • Automate Savings: Setting up automatic transfers at Iowa Trust to a savings account. Even small, regular contributions can grow into significant savings over time, thanks to compound interest and provide a cushion against unexpected life events.
  • Understand Taxes: For many new graduates, taxes can be confusing. Ask about financial tools or resources available to ensure you're filing correctly and maximizing refunds.

To learn more about how to take control of your financial future, contact us today!