May 17, 2011 | Lindsey Clair, Moms in School | Leave a comment After graduating from college there is a reality that oneÂ must Â face, especially ifÂ there are student loansÂ that must beÂ paid off in the days ahead.Â It may be easier for a young college student with no other responsibilities such as raising a family, but what about moms or dads?Â Let’s face it we have bills to pay, mouths to feed, etc.Â Having children is expensive and gets more expensive the older they get: sports, dance, etc.Â This little word we call aÂ budget must become a big part ofÂ a family’s routine to live wisely and within a means especially when balancing money in so many different directions. Here are a few tips according to R Slager regarding money management, budget, etc. Budgeting Tips Get a bank account thatÂ has no fees.Â If you have a college bank account through the credit union it is advised to just keep it due to the many benefitsÂ including avoiding any of those extra fees.Â This is great advice too if you are a parent of a child that graduated from college. Consolidate!Â When it comes to student loans you will most definitely want to consolidate to make it easier to pay off in time and with a lower monthly payment.Â “If you want to see a lower interest rate it is suggested to consolidate your loans through the federal government, especially if you received a Stafford or Plus loan through the federal government.” Great your budget and stick with it.Â One of the mistakes that families and individuals make is they make a budget but don’t take it too seriously.Â The key is discipline.Â Check out Dave Ramsey’s website on money and budgeting.Â Â Â Dave Ramsey has absolutely amazing tips on how to manage your money.Â I recommend this site to anyone learning how to live and work with a budget.Â This takes discipline but trust me; it is so worth the effort even if you end up ditching all of your credit cards to make it work. Create an emergency fund.Â This is the best money advice I have ever received in my life. Let me tell you, it works.Â How can this be done?Â Create a separate bank account like PayPal etc.Â Just put a certain amount of money into itÂ every week and watch it grow, especially with interest.Â Â The key is to pretend that money is not really there.Â You know it’s there but don’t use it unless you have a major emergency like car issues, hospital bills, home improvements, etc.Â My family started this over a year ago and it truly has made a big difference.Â I highly recommend an emergency fund. Got credit card debt?Â Get out ASAP.Â This means paying them off through consolidation if you have to.Â You can find many programs that will help you get out of credit card debt.Â One I like to refer to is Freedom Financial Network-Debt Relief.Â They have set programs to get you back on your feet. Invest in some sort of retirement like 401K or 403B plans.Â It’s never too early or too late to start planning and budgeting for retirement. OneÂ of the many thingsÂ I have learned about budgeting money isÂ you are not alone.Â There are resources available to help you budget and manage your money wisely.Â Dave Ramsey, previously mentioned in the post,Â offers courses and seminars.Â He even has books worth looking into.Â His words of motivation will most definitely change your way of thinking. Are you ready to budget and manage your money properly especially after college graduation?Â Have you started a plan of how you will go about this?Â I would love to hear from you.Â Please share any thoughts or advice you may have with those ready to make a commitment to money management. Are you still trying to graduate college or about to take that leap?Â Check out our list of online schools here on classesandcareers.com.