You might not think you have enough income or assets, but now's a good time to meet with a financial planner. A planner, among other things, can help you decide whether to consolidate your student loans, whether to save for retirement using a Roth 401(k) or traditional 401(k), how to invest your money, how much life insurance to buy, and the like.
"Ideally, if you want an A+ in financial literacy from the start," says Campbell. "I recommend that graduates find a way to get or hire a mentor who is a fiduciary to teach them about budgeting, retirement planning, risk management/insurance, and other aspects of financial literacy," says Campbell.
Note to parents and grandparents: A great graduation gift would be a one or two-hour consultation with a qualified and competent financial planner. You can search for a financial planner at www.letsmakeaplan.org, findanadvisor.napfa.org, and www.xyplanningnetwork.com/.