There’s a stereotype that Millennials, also known as “Zoomers,” spend too much of their hard-earned cash on impulsive purchases. This, however, isn’t necessarily true. Their spending habits may be a tad different, but Zoomers have retained the same financial concerns that their parents once had. The concept of debt, especially for young college grads, can be particularly daunting. Debt, however, isn't necessarily a bad thing, and Zoomers shouldn't be gun-shy about taking personal loans - provided that they adopt an old-fashioned Boomer mindset when it comes to managing their finances.

Leverage your student loan!

A student loan shouldn't have to be the proverbial albatross hanging around one's neck. While still finishing college, Millennials should start taking advantage of this interest-free period and pay off their loans in manageable increments. Although it's not necessary to start making payments until after your studies end, building a good credit rating during these early years will not only speed up the repayment process, it'll also generate a financial safety net for that bumpy post-graduation period when you're searching for employment.

Organize your payments and pay your damned bills!

Restructuring your loan payments to fit your bi-weekly or monthly salary will give you enough breathing room to plan for other expenses, such as rent, car payments, or groceries. Since payment history counts for 35 to 40 percent of your credit score, missing even one billing cycle can be utterly devastating to your record. That advice your father or grandfather used to tell you? It's true - pay your damned bills on time and don't skip them.

Spend like a Zoomer. Save like a Boomer.

Let's say you've taken care of your financial responsibilities and have gained a steady foothold. Now what? Spending haphazardly on neat little toys can sink your credit score quickly. This is why it's important to pay off small debts on your credit card in full every month. Soon, you'll notice a massive spike in your credit rating, something that will grant access to larger loans in the future. Interested in learning more about how to keep a robust credit score?

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