Graduating with financial honours

How today's graduates can get themselves into good financial shape.
With many recent UK graduates starting new jobs this autumn, credit reference agency Callcredit has developed some top tips for graduates to help them best manage their finances.
Owen Roberts, head of Callcredit Check, the consumer arm of Callcredit comments:
"For many graduates, starting their first, full-time job can be a daunting prospect, and worries about money will only add to the stress.
"Our own research has shown that 71pc of young people aged 18 - 24 are more concerned today about their financial future than they were 12 months ago. However, by taking control and taking an active interest in their finances, this year's new graduates can minimise their money worries.
"Checking your credit report is a quick and easy starting point as it gives you a comprehensive view of your financial commitments and a better understanding of your financial status."
Callcredit's top financial tips for graduates
Budget…and stick to it. Your biggest outgoing if you live away from home is likely to be your rent/ mortgage. Make sure you can realistically afford the repayments. Split the bills…not just the cost, but also, the responsibility. Make sure that if you live in a shared house, not all the bills are in your name. If there are any problems with repayment this will affect your credit rating, even if you are not the one at fault.
Organise…make sure you and your housemates set up standing orders for repayments. That way you don't have to chase them for payment when a bill comes in and house relations will remain harmonious.
Talk…to your employer. Many offer 0pc interest for annual railcards or bike loans with the pay deducted from your monthly salary. This can be a cost effective way of paying for transport.
Don't…go too mad on payday. Having too much month at the end of your money is never an enjoyable experience!