You have worked hard for the last several years in college while you transitioned from a high-school teenager at home to a full-blown adult. With your new degree in hand and possibly a new employment position with a halfway decent income, it is now when the foundation for your financial future will be laid in place. The mistakes you make financially fresh out of college can follow you around and affect everything else about your financial future down the road. Make sure you get off to a good start by avoiding these financial mistakes after you graduate college:

Mistake: Getting too hasty about paying off student debt. 

Yes, student debt is a big deal that you do have to pay back. However, if you are designating a huge chunk of your income to paying off student loans, it can put you in a financial bind in which poor money choices are easy to make. For example, if you are paying out most of your money for student loan payments and run into an emergency situation, you may have to use a credit card to get by because you don't have any savings available. Set up a payment plan with your loan provider that leaves you with at least a little leeway for savings and enough money to live on.

Mistake: Getting overconfident with where you can afford to live. 

You've got a stable job and your income is looking really nice as it hits your bank account. You may be tempted to spring for that luxury flat that is a little higher because you've been living in a cramped apartment while in college for so long. However, now is not the time to let the stars in your eyes cloud your good judgment. Keep your living arrangement modest. It's okay to treat yourself a little; you deserve it, but don't allow your rent to exceed the recommended 25 percent of your income. 

Mistake: Getting so persistent about saving that you ignore retirement planning. 

Saving money in your personal account is a good thing for sure. This will be the money you can use for life's little emergencies, big investments, and even for vacation. However, don't get so caught up in saving that you neglect your retirement fund. The sooner you start saving for retirement, the better chance there will be that your financial future will be stable. Remember, money in a retirement account can accumulate through the years and even be used as collateral in some cases. 

Contact a company like Family Financial Partners for more information and assistance.