Don’t get into the habit of paying the minimum amount due on a credit card. It does nothing but charge interest.
Paying only the minimum doesn’t help improve credit scores. Pay the credit card bill on time and in full each month.
5. Create a strategy to pay off student loans
Look at your student loan debt and create a plan for paying it off. Fortunately, many loan providers give a grace period for recent graduates. On average this is the first 6 months after graduation where the newly grad does not have to make a payment, If you are fortunate enough to land a job right off the school, start paying off your loans right away. You’re only going to help yourself pay down the debt faster so why not. This should also be the case if you are pulling in enough income through a side hustle or temporary position while looking for permanent work.
Does it make sense to consolidate? Are student loan forgiveness programs available? Which loans have the highest interest rates? Can you afford to pay a bit more than the minimum to help pay down the principal faster?
