Student debt has ballooned by 57 per cent in the last decade, with U.S. students holding a staggering $865 billion in loans, primarily due to college tuition and fee hikes, according to the Consumer Financial Protection Bureau.
Now more than ever, recent grads might need some help getting a hold of their finances. OnlineCollege.org created a personal finance guide to help you get started.
A budget guideline suggests allocating 15 per cent for food, and 40 per cent for debt repayment and savings, per month. (Here’s what you need to know before you start paying down your student loan debt.)
And for those looking to make a move to a big city, the best ones for college grads to relocate to include: New York, Boston, San Francisco, and Washington, D.C. But check the stats: D.C. may have the best income at $40,952 but rents average up to $1,226 per month.
The graphic also includes info about some useful financial apps and sites.
Check it out below: