A grad's guide to fiscal fitness

Graduating from college is the easy part. Landing that first job, creating a budget, securing the first real-world apartment, paying off those student loans and somehow managing to stash cash in a retirement account? That's going to require more than a degree.

With such hefty economic obstacles in their path, it's crucial for recent graduates to manage their debt wisely and take active steps to create a healthy financial future.

Plan ahead

To ensure that there's money coming in before you start sending money out, Anya Kamenetz, author of "Generation Debt: Why Now Is a Terrible Time to Be Young," recommends preparing for the job market before you leave campus. "When it comes to the job hunt, you can't start too early," she says. "It's a good idea to try some internships and gain real-world experience, doing as much research as you can in the field."

Studies show that students who complete internships or cooperative learning programs land jobs faster and have more negotiating power when it comes to their salaries than students without training or experience. The National Association of Colleges and Employers reports that more than one-third of the new college graduates companies hired in 2008 came from their internship programs. In addition, more than 60 percent of employers said they offer higher salaries to new-graduate hires with co-op or internship experience than they offer to those without.