Things to know when starting out

The Kiplinger.com's article discusses some of the things that every graduating student should know when entering the real world. One of the reality checks is that the government takes a big chunk out of each pay check. While the expenses are many, the article recommends doing the same thing that the government does to our pay checks - pay yourself first.

The article recommends staring out by building up the short-term emergency savings, and then moving out to investing for the long term. Advantage of starting saving early - a 22-year-old saving $211 every month and earning an average annual rate of 8% is expected to have about $951,000 by the time he turns 65.

For complete article, check out:

Kiplinger.com: Cost-Of-Living Reality Check