You've done it! You've graduated from college, you have your degree in hand, and you're ready for the next big step. But are your finances?

Getting along in the world after college can be difficult, especially when it comes to finances. Managing money in and money out, getting rid of money owed, and what to do with the money left over are all crucial pieces to understanding your financial future.

Cut Spending!

While a jump in income from your first job out of college can be exciting, the best way to get ahead is to decrease money going out. You don't have to sacrifice your social life, but you will have to manage it. Going out every night may sound better than moving in with your parents, but you will need to make decisions to keep your finances balanced. A great way to manage your spending is to create a budget and stick to it.

Make a Budget!

Money can vanish if you don't watch where it goes. Keep track of your monthly expenses by using tools like your bank's website, mobile apps, or good ol' fashioned pen and paper. Make sure to leave wiggle room for leisure activities! Budgets are best maintained when coupled with specific goals, like saving for a vacation or paying off debt.

Reduce Your Debt!

Reduce your debt to reduce your stress. People that struggle with debt are more than twice as likely to experience mental health issues. Managing credit cards and student loans can go a long way to combating money-related depression and severe anxiety. Focus on one piece of debt at a time, and start knocking out those balances, and be wary of interest spiraling out of control.

Build Your Credit!

This next step is easy if your other building blocks are in place. Paying your bills on time and boasting a great payment history will build your credit score. A solid score will enable wealth-building by allowing you to secure loans for buying a home, starting a business, or furthering your education.

Don't Stop Learning!

Continued education, from seminars to graduate degrees, will lead to higher salaries and more insulation from external forces. Advanced degree holders generally earned more and had lower unemployment rates than recent or experienced college graduates. Build your personal worth to build personal wealth.

Start Investing!

Another great way to build your personal wealth is investing. While it seems obvious that you'll have more if you invest more, compound interest allows early investments to soar. Someone who begins investing at age 45 needs three times as much money to catch up to someone who starts investing at age 25. Take advantage of your employer's 401(k), stocks, and mutual funds. Sit back and watch the money grow! But make sure you just watch, because early withdrawal can lead to hefty penalties.

It's a long road to a bright future, and there is no better time to start than now. Remember these simple steps to start investing in your future to make you happier, healthier, and wealthier.