Assess your debt
Along with those new initials you now have behind your name -- MBA, B.S., Ph.D. -- you also may have acquired a heaping pile of debt. It's up to the individual to devise a budgeting strategy that maps out which debts to pay first, Weiss said.
Many 20-somethings coming out of college and graduate school are saddled with a series of student loans. Government subsidized loans may have more favorable interest rates and deferment opportunities, whereas private student loans might have high interest rates.
Also factor in any credit card debt that may have accumulated from all those textbooks and late-night pizzas.