"Getting used to living beneath your means - it's a great age to get used to doing that," says AJ Flores, Lead Financial Advisor with Portfolio Advisors.
Flores says financial literacy is key in choosing a spending strategy.
"If there's an option to take a personal finance course in your school, do it, because outside of seeking the information for yourself, no one is going to teach you how to do it," he said.
While so-called "fin-fluencers" are growing in popularity on social media, it's important to research who you follow and understand financial advice isn't one size fits all.
"I do think taking everything with a grain of salt, though, because again, not comparing yourself to the successes that show up in other people's reels is a big one," Flores said.
For those with student loans, understand the type of loan you signed onto and what it means for you in regard to paying it back.
Flores says consider not spending the full amount if you have the flexibility.
"Just because the loan amount is, it might be this big number that they put on a paper for you to sign, it doesn't mean you have to take the full amount out," he said. "You can also just take out exactly what you need to pay for your essentials, tuition, books and things like that."
Leverage the perks that come with being a student. Some books are offered "used" or have digital copies.
You can find discounts across retail, entertainment, tech and transportation.
Flores says it's also important to understand the different types of debt you carry.
"If you just graduated and you have student loan payments, but you're also paying credit card loans down, understanding the best way to tackle that," he said. "Which has the higher interest rate? Which one has steeper penalties for not making payments?"
He went on to say that for those who will be paying bills for the first time, you might want to consider automating them, so you don't miss a payment.
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